CAAP data confirms P4.7-B air assets of Zaldy Co – Dizon
MANILA, Philippines — Controversial congressman Zaldy Co has about P4.7 billion worth of air assets, Public Works Secretary Vince Dizon said on Wednesday, Sept. 24, 2025.
Citing information from the Civil Aviation Authority of the Philippines, Co, party-list representative of Ako Bicol and chair of the appropriations committee, has 11 registered air assets.
Through his company Misibis Aviation and Development Corp., Co owns the following:
- AgustaWestland AW1398 ($16 million)
- Augusta Westland AW1398 ($16 million)
- Gulfstream 350 ($36 million)
- Bell 407 ($3 million)
- Bell 407 ($16 million)
- Bell 206B3 ($650,000)
This amounts to $74.650 million, or about P4.28 billion.
Co also allegedly owns Hi Tone Construction Corp., which has air assets worth $7.94 million, or P455.6 million.
Another firm, QM Builder, holds a Bell 505 valued at $2 million, or P114.8 million.
Dizon said that his team has sent a letter informing the Anti-Money Laundering Council (AMLC), the Department of Justice and the Independent Commission on Infrastructure—the body probing the corruption scandal and flood project fraud—of their findings.
"We will leave it up to them what to do with these assets,” Dizon said.
The AMLC has earlier froze Co’s assets following revelations from former Bulacan district engineer Henry Alcantara that the lawmaker allegedly had P35 billion in budget insertions tied to kickback schemes.
Co has denied the accusations. Still, the DOJ is preparing indirect bribery and malversation charges against him and other lawmakers implicated in the scandal.
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