Joint liquidators seeks GTLK Europe A319 sales
Teneo joint liquidators have launched another sale process, this time covering three 2010-vintage Airbus A319s belonging to GTLK Europe.
IBA was appointed through an exclusive mandate to remarket the three aircraft along with two Boeing 737-800s offered last week.
The aircraft will be sold lease unencumbered.
“We are pleased to launch another sales process to realise the value of GTLKE’s asset portfolio for creditors. We have made significant strides in recent months progressing the liquidation process while working closely with regulators and operating within the sanctions regime. It’s positive to see this momentum now enabling us to bring a range of assets to market including these three A319-111 aircraft,” the joint liquidators said in a statement.
Bids are due by 15 July 2024. The sales process is expected to conclude by November 2024.
Damien Murran and Julian Moroney of Teneo Restructuring Ireland were appointed as joint liquidators to GTLK Europe and GTLK Europe Capital last year.
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Regional Snapshot
Transactions
| Transaction Name | Stage |
|---|---|
| Norwegian Air Shuttle AOC AS | A/c purchase | 07-25 | 3x737-800 | Finance mandated |
| SDH Wings | A/c sale (RFP) | 07-25 | 5xA/c | RFP |
| AJet | Operating lease | 07-25 | 5xA320neo | Finance mandated |
| SAS | Operating lease | 06-25 | 3xA320neo | Finance mandated |
| Braathens | Sale leaseback | 06-25 | $30m (est.) | 3xATR72-600 | Finance mandated |
| Turkish Airlines | ECA guaranteed loan | 07-25 | 777F | Financial close |
| Turkish Airlines | ECA guaranteed loan | 07-25 | 777F | Financial close |
| Turkish Airlines | ECA guaranteed loan | 07-25 | $498m (est.) | 3x787-9 | Financial close |
| Avolon | Bond issue | 07-25 | $650m | Financial close |
| GTLK Europe | A/c sale | 07-25 | 1xA319 | Financial close |
Related Data
Regional Snapshot
Transactions
| Transaction Name | Stage |
|---|---|
| Some Air | Finance lease (RFP) | 03-23 | $1.35bn (est.) | 21xA/c | RFP |
| Some Airlines | Operating lease | 03-23 | 2x737-800 | Finance mandated |
| someJet | Bond issue | 03-23 | €850m | Financial close |
| Airsomething | Operating lease | 03-23 | 1x737-800 | Financial close |