If AIG’s bonus-bingeing sparked fury with the American public last week, then Monday’s corporate aviation scandal involving JPMorgan Chase added jet fuel to the fire. ABC News reported that the investment bank–the beneficiary of $25 billion in Troubled Asset Relief Program (TARP) funds–planned to spend $138 million for two new luxury corporate jets and a new aircraft hangar. JPMorgan dismissed the report and disavowed any plans to purchase new aircraft or gussy-up the hangar.

Not until after it pays off the bailout money, is what they failed to mention.

A spokesman for JPMorgan announced that once the TARP funds are reimbursed, the bank could purchase new jets to replace existing ones. These will be upgrades, not additions to the fleet. The state-of-the-art hangar remodel would also occur only after the loans get repaid. Among the proposed accouterments: quarry tile throughout, reclaimed wood embellishments and a rooftop garden.

ABC reported that the upgrade would include “nearly $120 million for two Gulfstream 650 planes and $18 million for a lavish renovation of a hangar at the Westchester Airport outside New York City.”

Westchester County officials postponed voting on whether or not the bank will be awarded the lease at the county’s airport. This prompted JPMorgan Chase spokesman Joseph Evangelisti to make a statement asserting that no TARP money would be used to make any payments for new jets or jet hangar improvements. However, he also refused to comment on whether JPMorgan had already put a down payment for new planes.

The Westchester Board of Legislators were scheduled to vote Monday night on the city’s recommendation that JPMorgan be awarded the 30-year lease starting April 1, 2010, at a cost of $1.1 million annually. But Legislator Gordon Burrows “overed” the vote, meaning that board members will have the opportunity to further review the bank’s proposal.