Lessor GTLK Europe’s liquidators offer five A220-300s for sale

Joint liquidators of Russian-affiliated lessor GTLK Europe have initiated a sales process covering five Airbus A220-300s. The process – which commenced on 16 July – involves five 2019 airframes, all of which are based in the Netherlands. Interested parties are being invited to submit expressions of interest to IBA, the exclusive remarketing agent for the jets, by 30 July. International sanctions imposed as a result of the conflict in Ukraine ultimately forced the liquidation of Dublin-based GTLK Europe, which was a division of Russian state lessor GTLK. Teneo Restructuring Ireland, which is overseeing the liquidation, says the A220s will be sold lease-unencumbered and offered in “as is, where is” condition. According to the joint liquidators, Damien Murran and Julian Moroney, the aircraft are a “premium offering” given their “excellent condition”, and they expect the sale process to conclude by the end of this year. “We are confident this sales process will be a successful one, adding to the positive interest we have received in other aircraft launched for sale since the start of the summer,” they add. “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 GTLK Europe’s creditors.”<br/>