The problem: their most prized air assets appear to have slipped out of the country, while Rep. Zaldy Co’s own whereabouts remain unclear.
During a press conference on Wednesday, Public Works and Highways (DPWH) Secretary Vince Dizon said six Philippine-registered planes and choppers were traced to Zaldy Co’s Misibis Aviation.
Another three were found registered under Hi-Tone Construction and Development Corp., founded by Christopher.
Business jet, choppers transferred overseas
But an aviation industry source said only three of the six Misibis Aviation aircraft remain in the country.
Those missing are the Gulfstream 350 business jet worth $36 million (about P2.1 billion), and two AgustaWestland AW139 helicopters, valued at $16 million (around P900 million) each.
Together, the three aircraft are worth about P3.9 billion brand new, representing 90 percent of Misibis Aviation’s fleet value.
Did Co know his assets were being targeted?
A separate insider said the Gulfstream was previously maintained at Clark International Airport in Pampanga before being flown out.
Its last recorded trip on flight-tracking service Flightradar24 showed the mid-range business jet departing Manila for Singapore on Aug. 16.
This happened weeks before Zaldy Co’s name surfaced in the Congressional flood control inquiry.
The two AW139 helicopters, which have longer range than Bell models, are also unaccounted for.
“They have the range. These are bigger, more reliable aircraft,” the first insider said.
Plane featured in family vlog still in the country
The remaining three helicopters—two Bell 407s and a Bell 206B worth about $6.65 million (P380 million)—are still in the Philippines, the insider said.
Hi-Tone’s fleet includes a Cessna 414A Chancellor valued at $700,000 (P39.9 million).
This appears to be the same plane featured in a video by Christopher’s daughter, Claudine Co, an influencer whose luxurious lifestyle posts have drawn scrutiny.
Hi-Tone also owns an Agusta A109E ($6.9 million) and a Piper PA-31-350 Chieftain ($340,000), both still in the country.
During the briefing, Dizon said a third company, QM Builders, also a top flood control contractor, owns a Bell 505 worth $2 million.
He said the freeze order means the assets can no longer be sold or transferred to another owner.
But with some already beyond the reach of Philippine authorities, their recovery remains up in the air.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
