Petrol station empire lends money for personal aircraft

  • Issa brothers borrowed £7m from EG Group for private jets
  • Loans were given to personal private jet companies controlled by the brothers
  • Total amount owed to the petrol forecourt’s business increased to £39.83m
  • Loans were provided at commercial rates of interest
  • Zuber Issa plans to step down as co-chief executive of the petrol station empire

The Issa brothers borrowed an additional £7m from their petrol stations empire last year to pay for their private jets. The loans were given to personal private jet companies controlled by Mohsin and Zuber Issa, located offshore in the Isle of Man. This follows their previous borrowing of £5.6m in 2022 to repay debt for the purchase of two private jets. The total amount owed to the petrol forecourt’s business has now increased to £39.83m in 2023. The loans were provided at commercial rates of interest and will be repaid in due course. In related news, Zuber Issa plans to step down as co-chief executive of the petrol station empire.

Factuality Level: 8
Factuality Justification: The article provides specific details about the borrowing of £7m by the Issa brothers from their petrol stations empire to pay for their private jets. It includes quotes from an EG Group spokesman and mentions the total amount owed by the brothers. The information seems to be based on documents and reports from The Telegraph, providing a factual account of the situation without significant bias or sensationalism.
Noise Level: 3
Noise Justification: The article provides specific details about the Issa brothers borrowing money from their petrol stations empire to pay for private jets. It includes information on the amounts borrowed, the companies involved, and the loans’ purpose. The article also mentions the brothers’ plans within their business. However, the article lacks in-depth analysis, accountability, or broader implications of the borrowing behavior.
Financial Relevance: Yes
Financial Markets Impacted: The article provides information about the borrowing activities of the Issa brothers from their petrol stations empire, which may have implications for their business and financial standing.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article focuses on the borrowing activities of the Issa brothers and does not mention any extreme events.

Reported publicly: www.retailgazette.co.uk