Irish Government jet sold for €420k in 2015 now insured for €5m

A luxurious authorities jet offered to a US agency two years in the past for lower than €420,000 is now insured for $5m (€four.7m) and has just lately flown from New York to Paris and Barbados.

Final yr, a Comptroller and Auditor Common report famous that regardless of the air corps pricing the 14-seater Gulfstream IV jet at €750,000 and associated spare elements at €405,000, the jet and tools had been offered in January 2015 for €418,000 and €53,000, respectively.

The sale to US firm Journey Aviation got here after issues over the age of the aircraft, which had travelled 21,000km since turning into operational in 1992. It was grounded in 2014.

Regardless of widespread criticism of the cut-price sale and the very fact no clear try was apparently made to hunt a variety of different affords, the Division of Defence strongly insisted on the time that it obtained one of the best deal doable as a result of age, repairs required, and situation of the aircraft.

Nonetheless, addressing the deal throughout a four-hour PAC assembly with the division’s common secretary, Maurice Quinn, Sinn Féin’s David Cullinane mentioned the identical aircraft is now insured by Journey Aviation for $5m and is being utilized by high-level executives to journey the globe.

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