Recovery & Repossessions

Managing swift, positive, and secure asset retrieval

IBA has extensive global experience in aircraft and engine repossessions in both work-out and default situations. Our experienced remarketing team appreciates the challenges behind repossessing assets. Whether it's aircraft repossession, engines, or landing slots, this complicated procedure has multiple interdependent aspects.

 

If repossession is unavoidable, we'll effect the best outcome quickly to preserve asset values and protect interests. Meticulously weighing precise circumstances, we'll recommend whether regaining control of assets or agreeing operations can continue presents the wisest choice.

Case Study: Aircraft Repossession

IBA were asset managers for an A320 aircraft on lease to Monarch Airlines, owned by Investec Global Aircraft Fund. We were already aware of the tenuous financial position of the airline, and as a result, had a team on standby, should the worst-case scenario of airline collapse actually happen.

 

We had been tracking the aircraft movements on a 24/7 basis and were fortunate that the aircraft had just returned to Gatwick airport when the airline called in administrators.

 

Given the locality to IBA HQ, the repossession was relatively calm and easy compared to other scenarios we had previously experienced. However, Eurocontrol and two other suppliers of services were keen to withhold clearance to fly for our ferry crew until outstanding debts had been paid. This is a typical situation which most lessors have to agree or negotiate to arrange hassle-free access to aircraft, and to transfer them from expensive airport parking, into less costly storage facilities.

 

Meanwhile, the remarketing team were already talking to potential new lessees of the aircraft and quickly placed the aircraft.

Case Study continued...

 

That part of the transaction went relatively smoothly, despite several interior changes being demanded and a fresh C check being required before delivery was finally made.

The planning required is intense and requires significant resources to arrange maintenance release for the aircraft - In this case, it was to fly from Gatwick to the storage facility in Kemble, along with bringing a flight crew and arranging fuel uplift.

 

Meanwhile, another team were accessing the technical records that were being held at Luton Airport by the airline's MRO facility, Monarch Aircraft Engineering Limited, which was not in administration at the time. Various work was required on the aircraft to achieve a delivery condition to the new lessee, Iberia, which involved further ferry flights to Birmingham and also FL Technics for C check, reconfiguration and painting. Fortunately, the engines were in fine order.

 

IBA handled all the tasks, from initial security at Gatwick, ferry flights, fuel and subsequent spares acquisition for the C check and reconfiguration work.

11億米ドル

IBA資産管理プログラムの下での航空機の数

330+

航空機およびエンジンの年間検査数

300+

2019年のバイサイド・デューデリジェンス件数

30+

引渡と回収の数

Responding at speed is essential

 

Repossession events demand a swift response; we can deliver one. Reinforced by Insight's strategic capability and our technical knowlege, IBA can hit the ground running. Our experts will arrange re-registration and conduct exhaustive assessments of an asset's condition upon its return.

 

 

IBA's global reach supports smooth repossessions

 

Where assets must be retrieved from sites within overseas jurisdictions, we can quickly evaluate the local legal systems and their robustness. We'll also assess those that apply in the asset's subsequent destination. Though intricate, IBA's experience means the necessary processes are fully completed without lengthy delays.

 

 

Truly bespoke repossession support 

 

No two cases are alike. Our team crafts truly bespoke guidance for each of our clients, mindful of the significant costs that can be involved. IBA keeps extensive industry repossession data covering commercial, private, and business jets, engines, helicopters, and landing slot valuations. These help us power a detailed, swift repossession cost analysis when you need it.

 

 

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