IDB Holding Corp. Ltd chairman is putting his private jet up for sale

IDB Holding Corp. Ltd. (TASE:IDBH) chairman Nochi Dankner is putting his private jet, a Bombardier Challenger 604, up for sale. The company bought the plane for $26 million a few years ago. IDB said in response, “In the difficult economic conditions, which are challenging even for IDB, there is no justification for keeping a private jet, and it is therefore up for sale.”

The 12-seat Challenger 604 has a range of 7,400 kilometers. IDB and its subsidiaries used the second-hand plane for their operations in the US, Europe, India, the Far East, and South America. A new Challenger 604 cost $34 million when IDB bought the plane in 2008.

The estimated cost of an hour’s flight time is $6,000, and the cost of a round trip to the US reaches $150,000. The overnight cost for the plane and its crew abroad is $1,800 for the first night and $2,700 for each additional night. The IDB public companies also pay fees, taxes, and various compulsory charges for private jets.

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