Experience

Industry

Aviation, Receivership

Appointment Type

Receivership

The Situation

We were appointed Receivers & Managers of Australia's second oldest continually operating air transport company and associated airline (Air South), with a fleet of commercial aircraft based in Adelaide and Perth.

The Solution

At the time of our appointment much of the fleet was not in active service and steps had to be taken to preserve and maintain the fleet on the ground to maintain its value. The fleet of aircraft were offered for sale on a global platform, but due to the impact of COVID on the transport industry over this time, interest in the planes and parts was subdued. Sales of all aircraft, parts and spares occurred over an extended timeframe with assets being sold to all parts of the world. To maximise asset value great care was taken to keep maintenance up to the aircraft so they remained flight worthy .

The Outcome

Through persistent effort and a patient sales strategy, we were able to achieve asset sales that resulted in a substantial return to our appointor.