Jet owned by supermarket goes on sale for £23m. Every little helps!
Tesco executives enjoyed a Hollywood lifestyle flying around the world in this luxury private jet, now on sale at £23million.
It is one of four put on the market after new chief executive Dave Lewis took over the troubled grocery giant – which ended last week with its share price at an 11-year low.
Faced with a £263million accounting black hole and a 92% drop in half-year profits, the boss is now putting a stop to the high life enjoyed by executives at the firm.
The seven-year-old jet in the picture is one of two Gulfstream G550s owned by the company.
It was put up for sale in August to make way for a brand new £30million model. But now that is also on sale.
The first Gulfstream could carry up to 14 Tesco executives and their entourage, plus crew.
On journeys, the employees settled back in large beige and cream leather armchairs, with plenty of space to stretch out.
And meals were served on maple wood-look tables and prepared in a plush galley with an oven and two coffee machines.
Photographs show cabinets full of wine glasses, perfect for sampling a Tesco Finest bottle of red.
For entertainment, the plane has two DVD players and several TV screens.
The Gulfstream – which flies up to 580mph and boasts full-length beds – ferried bosses between Tesco businesses in Europe and Asia, as well as taking them to visit suppliers.
As of August 6 this year, the aircraft – powered by two Rolls-Royce engines – had flown 3,444 hours.
Gulfstream, which is brokering the sale, said it already had a “letter of intent” from a buyer.
Tesco also has a Hawker and a Cessna, worth up to a total of £10million.
Sale of the fleet is all part of Mr Lewis’s bid to recover from a profit scandal which led to the suspension of several top staff and caused chairman Sir Richard Broadbent to quit last week.
Mr Lewis – who replaced axed Philip Clarke seven weeks ago – has vowed to take Tesco back to what made it a success before.
The ex-Unilever executive takes the train from Tesco’s Hertfordshire HQ when possible, instead of using a chauffeur-driven car, to save money.
Mr Lewis is also reviewing executive bonuses and insisting they understand the needs of customers.
While getting to know colleagues on a recent company think tank in self-catering accommodation, he asked them to take turns shopping for meals at supermarkets.
He has also insisted staff spend time in stores before Christmas, away from the head office in Cheshunt.
Want to read more like this? Mirror Money is now on Facebook...
