Co’s attempt to deregister helos blocked

The government has blocked an attempt by companies linked to resigned Ako Bicol Partylist Representative Elizaldy “Zaldy” Co to deregister three helicopters, or helos, which the Department of Public Works and Highways (DPWH) said would have paved the way for their sale despite a pending request to freeze billions of pesos worth of air assets tied to the embattled lawmaker.

In an interview on Tuesday, Public Works Secretary Vince Dizon confirmed receiving reports from the Civil Aviation Authority of the Philippines (CAAP) about attempts to strike Co’s assets off official records.

“I received a new report from the CAAP that three choppers were attempted to be deregistered by different companies connected to Congressman Co,” Dizon said.

“CAAP told me the reason for deregistering was that they planned to sell them. You cannot sell those helicopters to a buyer unless they are deregistered in the Philippines,” he added.

The attempt to cancel the registrations came just days after the DPWH asked the Anti-Money Laundering Council to freeze $74.65 million — about P4.3 billion — worth of aircraft linked to Co and his brother, Christopher.

At the center of the controversy is Misibis Aviation, controlled by Co’s son, Michael Ellis Co, which boasts a $36-million Gulfstream 350 executive jet, a $16-million Agusta Westland AW1399 helicopter, two Agusta Westland AW1398 helicopters also worth $16 million each, two Bell 4017 helicopters at $3 million apiece, and a Bell 206B3 tagged at $650,000.

Dizon said regulators intervened before three helicopters could be removed from the registry.

“What is important is we were able to stop the deregistration, and CAAP now has standing orders that all identified air assets cannot be deregistered,” he said.

The government has also trained its sights on $7.94 million worth of aircraft tied to Christopher Co’s Hi-Tone Construction and Development Corp., including a $6.9-million Agusta A109E helicopter, as well as a $2-million Bell 505 under QM Builders, one of the top 15 contractors headed by Allan Quirante and earlier flagged by President Ferdinand Marcos Jr.

The high-stakes tug-of-war over the air fleet erupted just as Zaldy Co bowed out of Congress, resigning under the weight of corruption allegations tied to flood control projects and budget insertions — charges he has repeatedly denied while remaining abroad.