The joint liquidators of GTLK Europe DAC and GTLK Europe Capital DAC have completed the sale of three Boeing 777-300ER aircraft. The sale comprises of two aircraft in the United States and one aircraft located in Spain.
The three aircraft were sold to MTU Leasing. The engines are in full-life condition and will be leased out, while the airframes will be utilised for parts and materials recovery.
The transaction will see six GE90-115B engines redeployed, supporting increased engine availability.
The sale is part of the ongoing liquidation of GTLK Europe.
The sales processes were launched in September 2025 following the successful recognition of the Irish liquidation proceedings under Chapter 15 in the United States.
This allowed the Irish-court appointed liquidators to be recognised by the US bankruptcy courts and enabled the unblocking and sanctions-compliant sale of the US-based aircraft.
“The completion of this complex transaction represents a significant milestone in the liquidation process,” said joint liquidators for GTLK Europe DAC & GTLK Europe Capital DAC, Damien Murran and Julian Moroney, Teneo Restructuring Ireland. "Securing Chapter 15 recognition in the United States was essential to facilitating the sale of these aircraft within the relevant legal and sanctions frameworks, enabling the delivery of strong returns for creditors.
“Moving forward, we remain focused on maintaining momentum and continuing to realise assets for the benefit of creditors.”
IBA acted as the exclusive remarketing agent for the transaction, managing the marketing and sale of the aircraft on behalf of the joint liquidators.