Whilst we would always advise that repossession be considered as a last resort, our remarketing team is always on hand to provide a wealth of technical and strategic support to help you when it comes to recovering or repossessing assets.
At IBA, we have an extensive, in-depth, practical experience of repossessing aircraft and engines in both work-out and default situations. As we have an extensive amount of resources which allows us to respond quickly, this also enables us to re-register the aircraft, further assess the aircraft’s return conditions as well as the robustness of the local legal systems where the aircraft is currently sited and at its future destination with minimum delay. This means that the extensive but required processes are finished and completed without our clientele having to wait for long periods of time.
We pride ourselves in approaching each situation on a case by case basis, as we know that no case is the same. This is where we provide recommendations to either repossess aircraft and engines or allow continued operations. This is done by taking into full account the high-cost implications of repossession. Even when an airline is not making lease rental or debt payments, it may be preferable for the lessor or lender to have a monitoring team on site, for a fixed period of time, so that aircraft and engine records, manuals and technical logs, can be fully recovered.
We are custodians of industry benchmark repossession data, and our team can rapidly provide detailed repossession cost analysis at your request.Read More
Example Case Study
A financier became concerned over late payments of a B737-600. The operator had sub-leased the aircraft to a North African airline. The situation became politically complex and IBA was appointed to ensure asset value was not at any greater risk and any costs would be minimised.
IBA had copied records the previous month as part of risk monitoring escalation. A team was sent to ensure the aircraft was made secure and worked with the legal advisers to ensure an appropriate court order was arranged. A flight crew, maintenance release, insurance and clearance of liens was arranged in under a week in order to gain custody and safe storage of the aircraft and its records
IBA recovered the asset and also managed to sell the aircraft in as-is condition for part-out, creating a sale at above book value for the financier.