Technical Due Diligence: Inspected the aircraft portfolio on-site to audit, digitalize, and secure all maintenance records.
Data Room & Asset Valuation: Prepared a comprehensive technical data room and detailed remarketing specifications to advise the lender on market value.
Strategic Claims Negotiation: Negotiated with local airport and MRO claimants to secure significant discounts, recovering several hundred thousand dollars for the bank.
Successful Portfolio Exit: Marketed and sold all three aircraft to a lessor within the same jurisdiction, ensuring a seamless register transfer and a full exit for the lender.
A European lender had extended senior debt financing to Armavia against a security package of three Boeing 737-500 aircraft. In 2013, Armavia filed for bankruptcy and was subsequently liquidated, leaving the lender exposed to storage, preservation, parking, and insurance costs; and to recovering and remarketing the assets.
While two of the three aircraft were parked in Yerevan and were relatively straight forward recovery cases, the third aircraft was parked at an airport in Poland with several claims against the asset from the local MRO and airport authority. Furthermore, there was little clarity over the physical condition of the aircraft and whether it was airworthy and adequately preserved.
ACC Aviation was engaged to manage the recovery and remarketing of these assets.
Our approach to the aircraft recovery and remarketing project consisted of three work streams: Technical, Valuation, and Remarketing.
ACC Aviation successfully recovered and remarketed the aircraft portfolio. The claims amounted to a material portion of the asset value, and ACC Aviation arranged discounted settlement agreements, increasing the bank’s recoverable proceeds by several hundred thousand dollars.
All three units were eventually sold to an aircraft lessor and operated by an airline in the same jurisdiction as the previous operator, enabling the aircraft to remain on the same aircraft register and easing the transfer and subsequent maintenance processes.
“We didn’t just look for a signal; we created a private sky-network that moved with the client.”
A respected industry professional, D’Urso brings extensive experience across…
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The perfect solution for this urgent charter, the Beechcraft King Air 200, is a versatile and reliable turboprop aircraft. Known for its ability to operate efficiently on short runways—ideal for regional airports like Guernsey—it offers:
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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