Cherokee Nation Businesses Sells Its Corporate Airplane

Cherokee Nation Businesses says it has sold its corporate airplane to a private buyer.

According to a news release CNB, which is the business arm of the Cherokee Nation, sold the plane as part of an effort to cut costs.   The news release says sale will save the tribe more than $400,000 annually.

"As the economic engine of the Cherokee Nation, it is the responsibility of CNB to be fiscally conservative in order to maximize our contributions to the tribe," said Shawn Slaton, executive vice president of CNB. "When Chief Baker took office he asked us to look for ways to streamline business costs and become more efficient. After examining our historical usage of the plane, we found the ongoing maintenance and associated expenses did not warrant CNB owning and maintaining a C90B Raytheon King Air."

The Raytheon King Air C90B was purchased in 2007.  The Cherokee Nation says the plane's Net Book Value is $1.3 million.

The airplane was sold for $1.58-million to a demolition company based out of New York via a broker.

The release goes on to say CNB will save the money through elimination of the plane and hangar's associated expenses, including maintenance and fuel.

"The proceeds from the sale of the plane will go directly into contract health," Principal Chief Bill John Baker said. "There is always a real need to better serve the health concerns of the Cherokee Nation and this sale will help a few more citizens receive desperately needed services."