Debt

Fearing Seizure Over Outstanding Debt, Argentina President Grounds Plane

That won't stop a real repo man

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For her upcoming trip to Asia and the Middle East, Argentine President Cristina Fernández de Kirchner will be flying first class in a private plane.

The plane, however, will not be her traditional presidential jet, Tango 01, but a privately charted jet due to concerns that creditors might try to seize her official aircraft.

The charted plane will cost the Argentinean government $880,000 for the weeklong trip – approximately 20 percent more than it would cost to travel in the presidential plane, a Boeing 757. The Southern Cone nation charted a similar plane from the U.K.-based company Chapman Freeborn for Fernández de Kirchner's trips in 2010 and 2011 throughout South America and Europe.

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