Issa brothers finally repay EG Group loan used to buy private jet

cityam10-14

The billionaire Issa brothers founded their empire in 2001 with a single petrol station. The Issa brothers have finally repaid the huge loan they borrowed from their own forecourt and retail empire to...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2575252983?lang=en_US&edition=fundamental","thumbnail":"https://www.cityam.com/wp-content/uploads/2025/08/issa-brothers-e1651486631155.jpeg.webp?w=824&h=463&crop=1","is_english":true,"pubTime":"2025-10-14 12:36","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2575252983","market":"nz","top_or_hot":-1,"title":"Issa brothers finally repay EG Group loan used to buy private jet","media":"cityam","content":"<div>\n<p>The billionaire Issa brothers founded their empire in 2001 with a single petrol station. The Issa brothers have finally repaid the huge loan they borrowed from their own forecourt and retail empire to...</p>\n\n<a href=\"https://www.cityam.com/issa-brothers-finally-repay-eg-group-loan-used-to-buy-private-jet/\">Source Link</a>\n\n</div>\n","source":"cityam_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Issa brothers finally repay EG Group loan used to buy private jet</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIssa brothers finally repay EG Group loan used to buy private jet\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-10-14 12:36 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cityam.com/issa-brothers-finally-repay-eg-group-loan-used-to-buy-private-jet/><strong>cityam</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The billionaire Issa brothers founded their empire in 2001 with a single petrol station. The Issa brothers have finally repaid the huge loan they borrowed from their own forecourt and retail empire to...</p>\n\n<a href=\"https://www.cityam.com/issa-brothers-finally-repay-eg-group-loan-used-to-buy-private-jet/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4019","symbol_name":"再保险","start_time":0,"source_url":"https://www.cityam.com/issa-brothers-finally-repay-eg-group-loan-used-to-buy-private-jet/","article_id":"2575252983","we_media_id":null,"thumbnails":["https://www.cityam.com/wp-content/uploads/2025/08/issa-brothers-e1651486631155.jpeg.webp?w=824&h=463&crop=1"],"rights":{"source":"cityam_highlight","url":"https://www.cityam.com/issa-brothers-finally-repay-eg-group-loan-used-to-buy-private-jet/","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2575252983","pubTimestamp":1760416560,"columns":[],"sourceInfo":{"source_id":"cityam_highlight","name":"cityam"},"weMediaInfo":null,"summary":"The billionaire Issa brothers founded their empire in 2001 with a single petrol station. The Issa brothers have finally repaid the huge loan they borrowed from their own forecourt and retail empire to buy a private jet, City AM can reveal.The billionaire duo had owed as much as $41m  to EG Group via an Isle of Man-based company they controlled called Clear Sky 2, which was used to acquire a Bombardier Global 6000 jet.The pair took out the loan in 2018, initially on an interest-free basis. But the terms were later changed after the arrangement was flagged up by auditors, with the company instead charging what it called a “commercial rate” of interest.In accounts published in June, EG Group said the loan was “past due” and warned that it would seek to “exercise its guarantees” to recover the amounts due if the brothers did not pay up by the end of the second quarter of its financial year.","collect":0,"end_time":0,"defaultTopTitle":"cityam.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4019":"再保险","EG":"Everest Group","BK4122":"互联网与直销零售","IE00B19Z3581.USD":"Legg Mason ClearBridge - Value A Acc USD","BK4094":"服装零售","IE00B19Z3B42.SGD":"Legg Mason ClearBridge - Value A Acc SGD","BK4588":"碎股","LU0211331839.USD":"FRANKLIN MUTUAL GLB DISCOVERY \"A\" (USD) ACC","IE0002270589.USD":"LEGG MASON CLEARBRIDGE VALUE \"A\" (USD) INC","BK4585":"ETF&股票定投概念","LU0077335932.USD":"FIDELITY AMERICAN GROWTH \"A\" INC","PIK":"Kidpik Corp."},"translate_title":"伊萨兄弟终于偿还了用于购买私人飞机的EG集团贷款","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"EG":1.5,"PIK":1},"content_text":"The billionaire Issa brothers founded their empire in 2001 with a single petrol station. The Issa brothers have finally repaid the huge loan they borrowed from their own forecourt and retail empire to buy a private jet, City AM can reveal.The billionaire duo had owed as much as $41m (£31m) to EG Group via an Isle of Man-based company they controlled called Clear Sky 2, which was used to acquire a Bombardier Global 6000 jet.The pair took out the loan in 2018, initially on an interest-free basis. But the terms were later changed after the arrangement was flagged up by auditors, with the company instead charging what it called a “commercial rate” of interest.In accounts published in June, EG Group said the loan was “past due” and warned that it would seek to “exercise its guarantees” to recover the amounts due if the brothers did not pay up by the end of the second quarter of its financial year.\n\nSubsequent accounts published this month by EG’s finance arm, EG Finco, show that Clear Sky 2 has now paid off the loan “in full.”\n\n\n\n\n\n\nNews Updates\nStay ahead with our three daily briefings delivering all the key market moves, top business and political stories, and incisive analysis straight to your inbox.\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nEG Group declined to comment on the loan.High flying execsThe Bombardier jet, which although not owned by EG Group, was emblazoned with a vanity call sign ending in EG and would periodically charge EG when it was used for business travel purposes.The jet, together with another owned by the duo, was also used for leisure purposes, flying between London and the Caribbean more than 50 times over a two-and-a-half-year period, City AM revealed last year.\n\nEG Group, which is co-owned with private equity firm TDR Capital, is no longer run by the brothers, who have both stepped back from day-to-day operations over the past year.The loan repayment comes amid a challenging period for some corners of the brothers’ sprawling business empire.A Scottish zero-emission vehicles company which the Issas had invested millions of pounds in was this week rescued from collapse in a pre-pack administration deal, City AM revealed yesterday, while a credit card company co-owned by the pair last week warned on its future as a going concern after it took out a high-interest payment-in-kind (PIK) loan to pay off outstanding debts.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.35.12","shortVersion":"4.35.12","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2575252983","isCrawlerRequest":true}