Flotation documents reveal Digicel’s jet set numbers

Some folk who remembered how the O'Reilly clan battled Denis O'Brien for control of Independent News and Media (INM) back in 2007 were mightily amused on Twitter last week by a line in the flotation documents filed by O'Brien's Digicel.

The filing revealed Digicel made payments over the last three years of $26.5 million to AC Executive Aviation Services, a company controlled by O’Brien, for the use of his corporate jet.

Readers might recall that, when he was trying to topple Sir Anthony O’Reilly, O’Brien wrote him a series of letters lambasting INM over its corporate governance.

One particular item that seemed to irk O’Brien was the use by O’Reilly of INM’s corporate jet, and whether the company had ever been stuck with the cost of flying O’Reilly around on non-company business.

There is no suggestion, of course, that O’Brien and Digicel’s current aviation arrangements are in breach of any corporate governance codes. No siree Bob.

Still, the scale of the costs borne by Digicel raised a few metaphorical eyebrows, especially in light of the billionaire’s past vexation at the flying habits of his erstwhile rival.