GTLK Europe liquidators offer one A319 up for sale

Teneo, the liquidator appointed to wind down operations of GTLK Europe and GTLK Europe Capital, has launched a sales process for one A319 aircraft on August 14, 2024. The aircraft is based in the Middle East and will be sold lease unencumbered. All aircraft will be offered in ‘as is, where is’ condition for outright sale. “With the launch of our latest sales process for an Airbus A319, we now have 12 aircraft available on the market, many of which have received strong interest from bidders,"" said joint liquidators to GTLK Europe DAC & GTLK Europe Capital DAC – Damien Murran & Julian Moroney of Teneo Restructuring Ireland. They continued: ""We continue to progress the realisation of GTLKE assets in line with the sanctions regime and will launch further aircraft for sale in an efficient manner in the coming months."" GTLK’s parent is Russian state-owned leasing company JSS GTLK, but the majority of the aircraft leasing business was run by Irish-registered firms, GTLK Europe and GTLK Europe Capital, which operated out of its Dublin office. GTLK operations were halted almost overnight following sanctions imposed on Russian-owned companies by the European Union and the United States following the invasion of Ukraine on February 24, 2022. Teneo continued in its statement: “Our ability to continue recovering assets and bring them to market reflects the progress we are making with the liquidation process, working in conjunction with regulators and operating within the sanctions regime to realise the best possible asset value for GTLKE’s creditors.” IBA acts as the remarketing agent for the aircraft. It is welcoming expressions of interest first round initial bids by September 13, 2024. The sales process is expected to conclude by the end of 2024.