The presidential jet of the Republic of Congo, a Dassault Falcon 7X, was recently auctioned off for a mere 7.1 million euros (approximately USD 7.4 million), a fraction of its estimated market value of around 20 million euros (USD 21 million). The quick and unexpected auction took place in Bordeaux, France, and lasted just 20 seconds, leaving many baffled by the low selling price.
The saga began in 2020 when a French court enforced the seizure of the government’s Falcon 7X upon the request of businessman Mohsen Hojeij. Hojeij claimed that the Republic of Congo owed him one billion dollars for construction work dating back to the 1980s. As a result, the aircraft, with the registration TN-ELS, found itself grounded at Bordeaux-MĂ©rignac airfield while in maintenance.
Government Threats and Legal Battles Impact Sale Price
The auction, which lasted a mere 20 seconds, raised eyebrows as the aircraft had only accumulated 1,181 flight hours since its purchase. The primary reason for the low sale price was the interference of the Congolese government, which did everything in its power to dissuade potential buyers.
As reported by France 3, Vincent Pestel Debord, the auctioneer overseeing the sale pointed out that the Republic of Congo had actively discouraged potential bidders by openly declaring that the Congolese civil aviation authority Anac would “never” remove the jet from its registry —an act that defied international conventions.
According to Pestel-Debord, without the government’s threats and obstructions, the jet could have fetched a much higher price. Despite these challenges, he remained hopeful that the new owners would pursue the legal process necessary to secure the plane’s new registration.
At the auction, creditors from the Republic of Congo expressed their astonishment at the sale’s meager price. A representative from Berrebi AssociĂ©s, which also had outstanding liabilities in the country, deemed it a “ridiculous price” for an aircraft that originally cost around 60 million euros (USD 63.2 million) when new.
The sale proceeds from the presidential jet will be directed toward settling the Republic of Congo’s debts with Commisimpex, the construction company behind the legal dispute. However, uncertainty still surrounds the jet’s future usability, given the ongoing hurdles presented by the Congolese government. President Denis Sassou Nguesso has held power in the Republic of Congo for decades.
Featured image: FlickrÂ
