Retail tycoon Mike Ashley splashes £1.3m on private jets

Jet-setter Mike Ashley spent £1.3million using a private jet and helicopter last year despite a troubling time for the High Street.

Mike Ashley’s Mash saw profits fall to just under £100m from £200m the year before

The aircraft is owned by Ashley’s investment vehicle Mash Holdings, which includes his retail empire Frasers Group, the owner of brands including Sports Direct, House of Fraser and Jack Wills.

The bill, revealed in Mash’s delayed accounts for the year ended 25 April 2021, was lower than the £2million sum Ashley clocked up the previous year.

Ashley’s lifestyle appeared unchanged despite profits for Mash falling to just under £100million from £200million the year before as lockdowns caused shops to shut

Revenue dipped to £3.8billion from £4.1billion. The numbers included £146million from Newcastle United FC, which Ashley sold to a Saudi-Arabia-led consortium for £305million last October after long-running criticism by fans.