IBA Group Announces New Contract With Export-Import Bank of the United States

IBA Group has been awarded a five-year contract to complete scheduled and unscheduled inspections of aircraft for the Export-Import Bank of the United States (EXIM)

EXIM provides export credit guarantees, to financiers of Boeing and other US manufactured aircraft. It currently has a portfolio of around 1,250 aircraft, comprising commercial aircraft, bizjets and helicopters, typically ranging in age from new to around 12 years old.

Under the terms of the award, EXIM will require operators to provide access for periodic routine inspections. These Scheduled Inspections will consist of sampling checks and include inspecting the aircraft, checking the records and verifying the maintenance status, with the costs to be paid for by the operators.

IBA will also undertake Unscheduled Inspections, at the request and expense of EXIM, which may arise as a result on an event (such as an accident or damage), a default by the operator, or a major concern that requires a more detailed assessment. Unscheduled inspections require a rapid response team to attend the operator to inspect the assets and also undertake an Operator Assessment. In extreme circumstances, such work may also lead to IBA Group assisting in all aspects of aircraft repossession, post repossession management and remarketing.

To participate in the Award Process, IBA Group was assessed on its track record and experience, technical skills and appraiser qualifications.

Owen Geach, IBA’s Chief Commercial Officer commented on the contract win. “We are delighted to be working with EXIM again and this contract continues a successful business relationship, as IBA Group has worked consistently for the organisation since 1994. We have supported EXIM with inspections and projects in multiple locations including Mexico, Senegal, Nauru, Ukraine, Brazil, India, Korea and Indonesia and we look forward to another five years of delivering high quality and responsive services to support EXIM’s asset management program.”