Summary

  • RBS purchased a Dassault Falcon private jet in 2002 under CEO Sir Fred Goodwin but sold it in 2009 due to financial issues.
  • The bank had plans to order a replacement Falcon 7X, but the order was canceled in 2008.
  • Adlaur Aviation LLC now owns the jet, which has been spotted in various locations in the US and Europe in recent years.

The Royal Bank of Scotland (RBS) owned a Dassault Falcon private jet from 2002 to 2009. It was used by CEO Sir Fred Goodwin and other senior executives but did not last long. Following government bailouts and cost-cutting measures beginning in 2008, it was sold the following year. Plans for future aircraft were dropped at the same time.

Selling the RBS private jet

The Royal Bank of Scotland purchased a private jet, a Dassault Falcon 900EX, in 2002 under the leadership of CEO Sir Fred Goodwin. The bank purchased the aircraft new from the manufacturer in October 2002, the year after Goodwin became CEO.

A Falcon 900 flying in the sky.
Photo: Kevin Porter | Shutterstock

The Falcon 900EX is a large, three-engined long-range private jet. The 900EX is a long-range variant, though now further improved with the 900LX, with a range of up to 4,501 nautical miles (8,336 kilometers). It flew with RBS with the very appropriate registration G-RBSG.

Inside the cabin of a Dassault Falcon 900.
Photo: Dassault

However, the jet did not last long. The bank (like many others) was hit hard during the financial crisis in 2008. This led to massive reductions in profits and large government bailouts. Stephen Hester replaced Sir Fred Goodwin as CEO, and the bank undertook significant cost-cutting. As part of this, the private jet was sold in May 2009 - reportedly at a considerable discount.

Canceling a future order for a Falcon 7X

Before the troubles of the financial crisis, RBS was actually planning to renew the aircraft. Sir Fred Goodwin ordered a replacement as CEO, but his successor, Stephen Hester, canceled it.

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Regarding this matter, the bank would have stayed with Dassault, having placed an order for the Falcon 7X. This aircraft is a further development of the Falcon 900, slightly longer and with increased range. The order was canceled in October 2008, with the bank confirming it had ordered the aircraft several years before.

A Dassault Falcon 7X flying in the sky.
Photo: N509FZ via Wikimedia

The bank claimed it was able to sell the order on, so it did not make any financial loss (it is usual, of course, to make deposits and partial payments in advance when ordering). RBS was not alone in canceling orders at this time - US bank Citigroup also canceled an order for a new Falcon 7X.

Changing ownership

After the Royal Bank of Scotland sold its Falcon 900EX, the aircraft was listed as owned by Davco Partners LLC (based in Massachusetts, USA) in 2009 and re-registered as N121DF. Since September 2016, however, it has been owned by Adlaur Aviation LLC, with registration N497SB. It is based in St Thomas, in the US Virgin Islands. It is not possible to track flights, but there are reports of it flying in several locations in the US in 2019 and 2020, as well as to Europe in 2022.

Have you seen this Falcon 900EX - either in the past or recently? Or would you like to discuss more about its ownership with RBS? Let us know in the comments section below.