Sigrún Davíðsdóttir's Icelog

Wandering assets

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At the height of the Icelandic boom, in 2007, the newly rich Icelandic Viking raiders bought loads of trophy assets. None more so than Jon Asgeir Johannesson of Baugur fame. A black Dassault Falcon 2000EX Easy, registered 30 November 2007 as G-OJAJ, named 101 like the Hotel 101 owned by Johannesson’s wife, came his way, owned by BG Aviation Ltd, c/o Baugur UK Ltd. According to news in Iceland in January 2008 the then newly-wed couple flew to Jamaica to test their new yacht, the 101 Heesen yacht. The jet purchase was financed by GE Capital. But GE lent and GE took back, or rather repossessed the jet, on July 20 2009 when the owner could no longer meet the repayments.

BG Aviation also owned a helicopter, G-PLPL, glistening black with the bold Baugur logo. The blackbird was registered with BG Aviation 4 June 2007 – but luckily there was Iceland Food to buy it off BG Aviation when the owner could no longer afford it. So now Iceland Food owns the black Baugur Helicopter, as yet another reminder of the Baugur owner’s previous ties with Iceland Food. Whether Iceland got it at a friend’s price or if it paid a good price for it isn’t known but the Baugur UK administrators probably know.

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Written by Sigrún Davídsdóttir

October 23rd, 2010 at 12:24 am

Posted in Iceland

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