Gov jet sold for €418,000 has insurance value of $5m

The luxury Government jet sold to a US firm in January 2015 for just €418,000 without any formal cost assessment is now insured for $5m and has recently flown from New York to Paris and Barbados, writes Fiachra Ó Cionnaith, political correspondent.

The situation was revealed at the latest Dáil public accounts committee today, amid ongoing concerns the taxpayer needlessly lost out on badly needed funds when the plane was sold two years ago.