Repossession & Liquidation Services From Sage-Popovic, Inc.
Sage-Popovich, Inc. has completed over 2,000 self-help repossessions of aircraft, helicopters & engines, along with numerous large-scale liquidations of aircraft fleets & parts. We offer comprehensive support for repossessions, including ferrying, storage, repair management, remarketing & assistance with import/export & registration issues globally.
Description
We operate 75,000 square feet of temperature-controlled warehouse space for the storage & liquidation of aviation assets & manage aircraft disassembly with qualified contractors. In the previous year, we have repossessed aircraft across Africa, Europe, Asia, North America & South America.
Major Liquidation Projects
Ravn Air Group – Liquidation Advisor providing oversight of assets, consulting services for personnel issues, maintenance/storage, information technology, audit & collection of aircraft, spare parts & associated records & management of sales of operational assets.
Retention by the US Bankruptcy Court, Northern District of Texas, as inventory appraiser for CHC Group, including sampling & valuation of inventory worldwide.
Independence Air – Repossession & liquidation of CRJ rotable inventory; return of Jetstream 41 & Dornier 328 aircraft & engine fleet to the owner/lessors.
Inventory liquidation of surplus materials of Turbine Engine Resources & its secure lender.
Silver State Helicopters – Appointed by the bankruptcy trustee & the secured lender to repossess the fleet of 198 helicopters & fixed wing aircraft & associated inventory, tooling, GSE, automotive fleet & FFE from 53 stations nationwide one offshore, including movement of the collateral to central locations for storage & remarketing of aircraft & inventory.
AAR Airlift – remarketing of six complete Bell 412 helicopters, part out of nine Bell 412s & liquidation of supporting inventory.
Cost projections for Hamden Aviation leased commercial & business aircraft.
Business Jet Portfolio (2018-2020) – Liquidated a portfolio of 24 business jets for a major International Bank. The aircraft were based in Europe, North America, South America & China. The liquidation process was a ‘hybrid’ of straight forward remarketing, repossessions & finding new lenders for refinancing. The portfolio was at a $12m loss when we got involved, but SPI turned it into a $10m gain over 24 months.
RAVN Airlines (2020-2021) – Airline filed for Ch. 11 bankruptcy protection. SPI helped facilitate the going concern alongside the Board & Trustee. As part of our work scope, SPI liquidated the airlines 73 aircraft, all spare parts, all equipment & GSE & closed all bases across Alaska.
Erickson Inc. (2022) – Remarketed S64 Sky crane helicopter, B214ST helicopters & spare parts inventory & SA330J Puma helicopters, spare engines & spare parts inventory.
Odyssey Leasing / Miami NDT (2022-2023) – Entities filed for Ch. 7 bankruptcy. SPI was brought in by lenders to value, inventory, pack & remarket +20 spare commercial engines & spare parts inventory.
