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Home Page > News > Formerly Ireland’s richest man, Sean Quinn grounded as chopper sells for more than $1 million

Formerly Ireland’s richest man, Sean Quinn grounded as chopper sells for more than $1 million

Private jet also on sale

By
KERRY O'SHEA,
IrishCentral Staff Writer
Published Tuesday, February 7, 2012, 7:54 AM
Updated Tuesday, February 7, 2012, 9:43 AM

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See more: Sean Quinn  

Sean Quinn photographed outside court in December
Sean Quinn photographed outside court in December
Photo by journal.com


A helicopter which was used regularly by Ireland’s former richest man, Sean Quinn, was sold off recently for a cool €1m. On the market since last year, the chopper has been sold to British helicopter operator and trainer Castle Air.

The Independent reports that the chopper, an Agusta AW109E which seats eight, was used regularly by Sean Quinn, though he also lent it out from time to time. Former Taoiseach Brian Cowen used it in 2002 when he flew to Donegal for campaigning.

The chopper, bought as new by the Quinn Group, accrued 2,145 hours of flying by the time it was put up for sale last year.
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Read More:
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Also on sale from the Quinn Group is their private jet, a 2005 Dassault Falcon 200EX, for $17.5m (€12m). The luxury private jet is outfitted with golden fixtures on the interior, and can carry 10 people. It was used almost weekly for the six years it was in the possession of the Quinn Group.

The sale of the aircraft comes just after the Quinn family made a legal action against IBRC (formerly Anglo Irish Bank) in the hope of saving some of their wealth.

The Quinn family claimed in court last week that “Anglo ‘shovelled’ €2.34bn in loans toward Sean Quinn after discovering his ‘towering’ stake in the bank, which threatened to collapse it.”

Lawyers for the Quinn family found the loans to be an "egregious, and we would say, almost deliberate breach" of company law and market rules.

​
See more: Sean Quinn , News from Ireland , Irish economy , Irish business news
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2 Comments

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IrelandNorth | Feb 08, 2012, 06:02 AM EST
Ohh! The hazzards of casino capitalism. When do the gamblers unanimous of the Irish private banking sector get busted, Enda? Have you got the balls to move in on them, unlike your predecessor, or are you all compromised by the loansharking culture. Or is it just easier to squeeze Joe Sixpack on the street to make up the shortfall in Government receipts.

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CaptainCon | Feb 07, 2012, 01:44 PM EST
An unusual form of intimidation with menaces. 'Here- have these billions of euros in loans and make sure you fly a plane with gold fittings- or else.' Anyone else experienced this particularly nasty form of aggression from their local bank branch?

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