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  • Exposure that Evergrande Xu Jiayin sold two private jets and cashed in $50 million to repay debt
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Exposure that Evergrande Xu Jiayin sold two private jets and cashed in $50 million to repay debt

Andrew 11/11/2021 1 min read

A US aircraft investor bought the two aircraft, both of which are Gulfstream small business jets. The transaction was completed in October. In the same month, Evergrande paid two overdue bond interest payments.

According to reports, of the two aircraft sold by Evergrande, the more expensive one is the Gulfstream G650ER ultra-long-range aircraft, which can accommodate 15 passengers and sells for US$40 million. The buyer is Earth Air Inc., a private company. Airlines, operating routes from Los Angeles to other cities.

In addition, Earth Air has listed the aircraft that the company purchased from China’s Evergrande for sale. An online advertisement mentions that the aircraft has flown for more than 1,400 hours. The interior is magnificent.refrigeratorand aoven, Quote: 43.9 million U.S. dollars.

The other aircraft has a longer service life and sells for approximately US$15 million. However, the details of the transaction were not disclosed.

People familiar with the matter said that China Evergrande has at least four aircraft in its Shenzhen headquarters, and the two recently sold are small aircraft. Evergrande is currently looking for a buyer for a larger Airbus ACJ330 aircraft.

The plane is currently parked at China’s Hong Kong International Airport, and Evergrande spent $220 million to purchase it a few years ago. The aircraft has a customized “VVIP Airport”, which is extremely luxurious.

However, Evergrande Group did not respond to the rumors of the sale of private jets.

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