A Hawker 900 XP luxury private jet, which Romanian businessman Ioan Niculae used for business trips, was put up for sale by local lender Banca Transilvania in a foreclosure action through which the bank tries to recover debts from insolvent company Interagro, founded by Niculae, local Economica.net reported.

The date of the auction was not set yet but the starting price is USD 5.17 million, according to the announcement posted by Banca Transilvania.

“Equipped with large cabin space, the ability to fly at high altitude, autonomous flight distance up to 5463 km. The interior configuration is 8 passengers, a pilot, a co-pilot and a cabin crew. The aircraft's facilities are specific to the services provided for the segment of business trips. Number of hours of flight performed: 2250h:17 min,” reads the presentation. The jet was manufactured in 2011 and has two Honeywell engines.

The aircraft is registered with Interaviation, a company owned 51% by Adina Niculae, the youngest daughter of Ioan Niculae, the remaining 49% belonging to Interagro, according to local Economica.net.

Ioan Niculae was Romania’s richest but his empire began to shrink after he was sentenced to two years and six months in jail in April 2015. He was found guilty of illegally financing local politician Mircea Geoana’s presidential campaign in 2009. However, he was released conditionally in July 2016.

Last summer, Niculae was sent to court in yet another case, for setting up an organized crime group and embezzling money from state-owned gas producer Romgaz.

Irina Marica, irina.marica@romania-insider.com

(opening photo: Vanzari.bancatransilvania.ro)