Luxury Jets Linked to Formby’s Webster Family Put Up for Sale as 79th Group Collapses

Planes up for sale as asset management firm collapses under £200m debt

Two luxury private aircraft linked to the Webster family from Formby, who ran the now-collapsed 79th Group, have officially been placed on the market — a development that many investors will welcome as one of the first real steps toward recovering lost funds.

Provisional liquidators have confirmed that the aircraft, both held through Isle-of-Man companies connected to the 79th Group, are now available for purchase as part of the asset-recovery process. They include:

2008 Learjet 45XR – Eight-Seat Executive Jet

This was the group’s flagship aircraft — a sleek, high-performance business jet typically associated with top-tier executives and high-net-worth individuals.

Inside, Learjet 45XRs are known for their luxurious leather seating, polished wood finishes, soft cabin lighting, and a spacious aisle layout that seats eight people in comfort. Many models feature a private rear lavatory, a compact galley for refreshments, and noise-reduction design for a quiet flight experience.

Learjet 45XR (similar to the 2008 jet the 79th Group put up for sale)

It is the kind of aircraft you’d expect to see transporting CEOs, elite clients or VIPs between international destinations — a symbol of the wealth and success the 79th Group projected in its earlier years.

2005 Cirrus SR22 GTS-G2 – Premium Four-Seat Aircraft

The second aircraft is a high-spec Cirrus SR22 — one of the most popular high-end personal aircraft in the world. It offers a stylish modern interior with comfortable, contoured seating, digital flight displays, and a sleek cockpit.

Although smaller than the Learjet, it is still regarded as a luxury aircraft within its class, used by private owners, entrepreneurs and flying clubs for short-range trips.

The sale of the jets comes as the 79th Group continues to unravel under debts reported to exceed £200 million. Earlier this year, the City of London Police launched an investigation into allegations of suspected widespread fraud involving the business, run by the Webster family.

For the estimated 3,700 investors, including many across Formby and the wider region, today’s update is a glimmer of progress. The two aircraft represent some of the most valuable remaining assets linked to the group, and their sale could help recover at least part of the money owed.

Liquidators warn that the recovery process will be lengthy due to the complicated network of companies within the group, but the sale of these high-value aircraft is viewed as an encouraging first step.

The Webster family, once known locally for their bold global ambitions, are now at the centre of intense legal and financial scrutiny. Formby Bubble has been contacted by numerous affected investors seeking clarity over the ongoing situation and what each new development means for them.

Today’s news is a concrete movement in a case that has seen months of uncertainty — and many investors will be relieved to see tangible assets finally being marketed for sale.