The government has blocked an attempt by companies linked to resigned Ako Bicol party-list Representative Elizaldy “Zaldy” Co to deregister three helicopters, which the Department of Public Works and Highways (DPWH) said was meant to pave the way for their sale despite an ongoing 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 off Co’s assets from official records.

“I received a new report from the Civil Aviation Authority of the Philippines (CAAP) that three choppers were attempted to be deregistered by different companies connected to Congressman Zaldy 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 blocked bid to cancel registrations came just days after the DPWH asked the Anti-Money Laundering Council to freeze some $74.65 million, about P4.3 billion, worth of aircraft linked to Co and his brother Christopher.

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

Dizon said regulators stepped in before three of the helicopters could be stripped from the registry. 

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

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, as well as a $2-million Bell 505 under QM Builders, one of the top 15 contractors earlier flagged by President Ferdinand Marcos Jr. and led by Allan Quirante.

The high-stakes tug-of-war over the 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 staying overseas.