ITC-AeroLeasing has successfully executed a cross-border aircraft remarketing transaction for a YOM 1976 DHC-6-300 Twin Otter, which had previously been used for government contracts in Southeast Asia.
After the lease termination, the aircraft had gone through extensive heavy maintenance in Australia while being marketed, and the aircraft will now be serving tourists in the Maldives.
“Aircraft of this vintage, with extensive maintenance and modification history, always present challenges for remarketing due to buyer/customer and importing aviation authority requirements. This project allowed ITC to draw on its full range of in-house technical expertise to create a maintenance program work scope necessary to obtain airworthiness certification with a top tier regulator in CASA Australia. It was a somewhat protracted process, partly due to COVID-19 restrictions imposed domestically within Australia, engineering/design changes, major disassembly of the airframe etc., but with the support of our strong Australian network, partnered with our in-house capabilities, we delivered a fully compliant aircraft to our customer. Very few of our aircraft marketing projects demand this level of asset knowledge and understanding, so its pleasing to get this one over the line and utilize our wide-ranging skills in the process.” said Steven Nixon, Director, Asset Management & Trading of ITC.
“We have the right internal capabilities that bolster our meaningful support to customers and partners in the industry. These capabilities, coupled with our vast network and long history, mean that despite the difficulties brought about by COVID-19 in recent years, we are positioned as one of the leading general aviation trading partners, not only in the Asia Pacific region, but for all of our international customers” added Mirika Nakayama, ITC’s President and CEO.
In parallel with this transaction, ITC’s team of professionals successfully closed three aircraft lease transactions with partners in North America and Europe. ITC expects to close another aircraft remarketing deal along with further new leasing transactions in the coming months.
About ITC-AeroLeasing, Inc.
ITC-AeroLeasing is an aircraft leasing and sales company based in Tokyo, Japan. ITC’s team of dedicated and experienced professionals aim to provide tailored aircraft financing and sales solutions to operators worldwide.