THE man Jack appointed to run his airline eight years ago today described him as a "businessman without equal."

Under Jack's guidance, Jersey European, recently renamed British European Airlines, had grown into a £100million-plus business which he owned the vast majority of.

Barry Perrott explained: "He was not only very good in business but very lucky -- something he would have been the first to admit that you need in business."

Jack was a popular figure among staff at its Jersey and Exeter sites.

"He was very hands-on with the airline and was well known and liked by our staff here. We issued a statement to them yesterday about his death and the atmosphere was very subdued."

And Mr Perrott revealed Jack's generosity to the airline's staff.

He said provision had been made for them to own a share in the company which they would be able receive when it floats on the stock market.

Although he wouldn't say how much of the company the 1,400 staff would own he did say it was a "generous amount." A planned flotation of the airline -- said to be worth more than £100million -- was put on ice after the stock market fell, raising fears that the company wouldn't raise as much as it was worth.

Barry added: "Jack was never one to undersell something!"

He regularly flew with the airline to Exeter and to London on business and to the Midlands where his wife's family are from.

But he used a private jet to fly up to Blackpool for Rovers games because the airline doesn't fly there.

Mr Perrott stressed the company would continue as normal and, although no date had been set for the flotation, it was still on the agenda.

The airline is just one part of the huge fortune Jack had accumulated and his death will lead to the distribution of one of the country's largest estates. Today, Philip Beresford, compiler of the Sunday Times Rich List, admitted the £600million estimate he had put on the family fortune could be a significant underestimate. "When you add in all the proceeds from his property portfolio and interest accruing on his money it would well be substantially more than that."

And Mr Beresford said Jack's decision to move to Jersey in the 1970s would have had given him a final victory over the taxman.

"Jersey has a much lighter tax regime than in the UK. I am sure that the British taxman will be gnashing his teeth!"

He added that in future Rich Lists, Jack's brother, Fred, would be named as the figurehead of the Walker empire.