Romualdez, Co Probed Over Luxury Jets and Choppers Amid Flood Control Scam Crackdown

MANILA — The skies are buzzing with scandal. House Speaker Martin Romualdez and Congressman Zaldy Co are now in the hot seat as investigators zero in on their alleged ownership of multimillion-dollar private jets and luxury helicopters.

According to insider reports, Malacañang has been tipped off about Romualdez’s supposed purchase of two high-end Gulfstream private jets. One is a pre-owned G150, said to cost up to $8 million, and the other a G550 with a jaw-dropping price tag of $35 million. Both jets were reportedly acquired from billionaire tycoon Lucio Tan and remain parked in his hangar.

Co, meanwhile, is accused of trying to outfly the storm. Sources claim he has begun moving his prized air fleet out of the country before authorities launch a full-blown crackdown on personalities tied to the multi-billion flood control scam.

Paper trails reveal that Misibis Aviation & Development Corp.—allegedly under Co’s control—has already requested the deregistration of its prized Gulfstream G350, worth $36 million. In a letter dated August 18, Misibis Aviation’s chief pilot asked the Civil Aviation Authority of the Philippines to approve the jet’s export certificate and deregistration papers.

Records show the G350, tail number RP-C8575, was acquired in June 2024. The 18-year-old aircraft has changed hands from U.S. and offshore operators before landing in Co’s hangar. His son, Michael Ellis Co, is said to be running the aircraft-leasing business.

But the G350 is only the beginning. Investigators have also uncovered images of five more private jets and five luxury Bell helicopters linked to Misibis Aviation. The choppers are allegedly reserved for VIP guests flying straight into Co’s lavish five-hectare Misibis resort in Albay.

As the storm brews, questions mount: are these luxury birds a symbol of power—or the smoking gun in a scandal set to explode?