A consortium of lenders, led by one of the largest financial institutions in the Caribbean, had provided a lending facility to a national carrier based in the region, secured by a portfolio of 11 aircraft assets. Due to several market factors, the debtor airline suffered significant financial distress, leading to its collapse and rendering it unable to maintain the aircraft or service its debt obligations to the lenders.
The consortium engaged ACC Aviation to provide a range of asset management, technical, valuation, and advisory services in relation to the aircraft portfolio.
The lenders found that the aircraft were not operational, parked at various locations at the airport, and the airline had not honoured its debt obligations for a considerable period. Furthermore, the lenders had little knowledge of the aircraft’s technical condition and current market values, nor the best approach to recovering their investment.
ACC Aviation deployed a team of technical resources to perform technical inspections on the aircraft and the airline’s technical capabilities. The condition of all assets was meticulously documented, a technical data room of aircraft records was prepared, and inspection reports were presented to the consortium. Our technical team reviewed the assets’ condition and compliance with the applicable storage programme, providing recommendations on remedial actions to improve storage condition and value preservation for future sale. A timeline of the technical and operational status of the portfolio was mapped against the lending transaction, auditing the transaction history against representations made by the airline. Based on the findings of the inspection reports, ACC Aviation’s appraisers provided the lenders with their opinion on the current market value of the aircraft and the likely disposal proceeds upon liquidating the portfolio.
The lender consortium gained a full understanding of the technical condition and current market value of its aircraft collateral, as well as how the transaction timeline mapped against the aircraft’s technical status.
With confidence in the likely sale proceeds, the consortium decided to liquidate the portfolio. ACC Aviation recommended the optimal remarketing strategy, prepared the technical specification for each aircraft, sourced offers from interested parties, and project-managed the transaction process.
As a result, ACC Aviation successfully disposed of the 11 aircraft, enabling the lenders to exit their investment entirely.
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Director of Operations, ACC Aviation
ACC Aviation operates internationally, with teams supporting clients across Europe, the Middle East, Africa, North America, and Asia.
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