THREE of the ten air assets reportedly linked to former Ako Bicol Party-list Representative Zaldy Co have been flown out of the country, the Civil Aviation Authority of the Philippines (CAAP) confirmed.
CAAP Director General Raul Del Rosario said the aircraft have been traced to Singapore and Malaysia. However, he clarified that the assets cannot be sold as long as they remain registered in the Philippines.
“They attempted to deregister the aircraft, but since these are already under investigation, CAAP did not process the request,” Del Rosario said in Filipino.
He explained that each aircraft can only hold one nationality registration, meaning it cannot be registered in another country until deregistered locally.
According to CAAP records, two AgustaWestland AW139 helicopters, each worth around $16 million, were located in Kota Kinabalu, Malaysia, while a Gulfstream 350 jet valued at $36 million was flown to Singapore.
Del Rosario said CAAP believes the attempt to deregister the aircraft indicates an intention to sell the assets. However, the agency currently lacks the authority to restrict their movement, as it has yet to receive a freeze order from the Anti-Money Laundering Council (AMLC).
“As of now, we are monitoring their movements, but we have not received any notice of a freeze order from the AMLC,” Del Rosario said.
He added that if a freeze order is issued, the government could coordinate with foreign civil aviation authorities to extend the order abroad.