Speculation is rife in the City today over the fate of Malcolm Walker’s corporate jet.

Prior to his abrupt resignation amid a shares sale scandal on Tuesday (30 January), former Iceland chairman Walker maintained that the £6m Citation jet was a “serious business tool,” essential to his task of keeping up with the news at frozen food outlets around the country and meeting his employees.

Down to earth new CEO Bill Grimsey is not as keen to be seen flying about in such grand style, which could be viewed as politically incorrect. Yesterday, he admitted that the fate of the jet was “under review” but it was too early to say whether the jet will be sold off.