Reigate, 29 May, 2024 – ACC Aviation, a global leader in aviation consulting, is pleased to announce the successful sale of a Dornier 328-100 aircraft, along with a spare engine, propeller assembly, and a comprehensive spares and tooling package, for Eagle Air Iceland. This transaction exemplifies ACC Aviation's expertise in remarketing niche aircraft and delivering value to its clients.
Eagle Air Iceland, a prominent commercial airline operating domestic flights, charter services, and adventure tours, found the 32-seat Dornier 328-100 aircraft too large for its operational needs after a fleet restructuring in January 2023. The airline engaged ACC Aviation’s consulting team to oversee the remarketing process, seeking to offload the aircraft efficiently.
The consulting division at ACC Aviation conducted a thorough analysis of the market and proposed a structured private Request for Proposal (RFP) process. This targeted approach involved identifying and reaching out to all Dornier 328-100/300 operators, lessors, and investors globally. The comprehensive remarketing campaign included leveraging ACC Aviation's strong presence in the ACMI and Charter segments, where they maintain a robust network of suppliers and customers.
"Our team’s in-depth market knowledge and strategic approach ensured that Eagle Air Iceland achieved optimal results," said Rob Watts, Director of Consulting at ACC Aviation. "Through rigorous analysis and negotiation, we increased the gross sale proceeds by 38%, demonstrating our commitment to maximizing value for our clients."
The RFP process was meticulously structured around preset criteria, ensuring comparable bids and facilitating a transparent selection process. ACC Aviation shortlisted and analysed offers, assessing the credit quality of bidders and presenting detailed market feedback and pricing to Eagle Air Iceland. During the best and final offer stage, ACC Aviation's team influenced shortlisted bidders to improve their offers, ultimately driving additional value for the client.
"We are very pleased to have entrusted ACC Aviation with remarketing of our D328 aircraft. The ACC team ensured that the aircraft found a suitable owner at a price reasonable for both parties. We would, without hesitation, recommend ACC Aviation’s services to anyone," said Sigurdur B. Jonsson, Chairman of Eagle Air Iceland.
The winning bid proposed a transaction structure involving a standard sale of the aircraft, spares, and tooling, along with a deferred sale agreement for the spare engine and propeller assembly. ACC Aviation, in collaboration with Eagle Air Iceland’s legal counsel, successfully structured and negotiated the transaction, ensuring a seamless process from start to finish.
The sale marks another milestone in ACC Aviation’s ongoing efforts to provide comprehensive consulting services, including aircraft valuation, deal structuring, and transaction project management, to the global aviation industry. The successful transaction also allows Eagle Air Iceland to streamline its fleet to a single aircraft type and enlist ACC Aviation’s consulting division to assist in sourcing additional Jetstream32 aircraft.