Timchenko sold the Gulfstream G650 business jet

To help Putin's oligarch came the state: the plane was bought by the Cyprus structure of the Russian Direct Investment Fund (RFPI). It was impossible to use business joke Timchenko because of US sanctions.
Russian billionaire Gennady Timchenko is no longer the owner of the business jet Gulfstream G650, writes Reuters. A representative of a businessman told the agency that Timchenko and his companies had nothing to do with this plane for several years. The representative of Timchenko did not answer the calls of Vedomosti.

According to Reuters, now the owner of the aircraft is a subsidiary of the Russian Direct Investment Fund - Cyprus's Amerivo Holdings Limited (100% owned by RFPI). Information about the change of ownership appeared in the aircraft registry of Luxembourg in June this year, the agency said. The RFPI representative declined to comment on the information on the purchase of the plane to Vedomosti.

As follows from the Reuters material, the RFPI structure did not buy a business jet from Timchenko. Executive Vice President of the Boutsen Aviation broker Mathieu Pesin told the agency that his company was hired to sell the aircraft in 2017, and at that time the plane was already owned not by Timchenko, but by another Russian businessman. He acquired the Gulfstream G650 from a billionaire under US sanctions in mid-2016, Pesin said. Pesin refused to give the name of the businessman.

 Six months after buying the aircraft, the businessman asked Boutsen Aviation to find a buyer, the source said. According to him, there were no suitable offers at the time and eventually the aircraft was sold without the participation of a brokerage company in March or April 2018. In September 2016, Boutsen Aviation estimated the cost of the aircraft at $ 50 million, Pesin said. Reuters reports that it was not possible to find out how much the aircraft was valued when dealing with Amerivo.

Timchenko bought a business jet in 2013, a year before falling under US sanctions. The catalog cost of the aircraft at that time was $ 64.5 million, wrote TASS. In an interview with this agency, Timchenko said that because of sanctions, he can not use a business jet - the American company Gulfstream stopped servicing the plane "bought from her for quite a bit of money." "The equipment is not serviced, it's worth it ... <...> My Gulfstream can not be exploited, because the company does not provide it with spare parts, pilots do not have the right to use navigation, built-in maps," complained Timchenko.

The representative of the billionaire could not promptly answer Reuters on the question of how many aircraft now owned by Timchenko. In 2016, Russian Forbes wrote that Danzi Investments Limited, owned by Timchenko, ordered a Gulfstream aircraft with delivery in 2017 and made an advance payment of $ 7 million. After the imposition of sanctions against Timchenko, Danzi created provisions for prepayment, reporting this as extraordinary expenses . "If sanctions are not lifted, then it will be possible to consider that money is written off at a loss," said a man from Timchenko's circle. The press service of Gulfstream then refused to comment on the relationship with customers.