Page 40 - World Airnews Magazine December 2020

NEWS

FIRST ONLINE AVIATION

AUCTION

lobal AVX, a digital auction

Gpla� orm for transparent aircraft

transactions, held its first online aircraft

auction recently. Dedicated to supporting

international aircraft sales and two years

in the making, it is the brainchild of corpo-
rate lawyer Robert Bourke.
The concept was conceived to enable
bankruptcy professionals to adequately
address their disposal obligations and

duties by ensuring the distressed aviation
assets were receiving a fair market price.

The platform addresses this critical need by
establishing an independent market-based ership interest as a result of the pandemic. maintenance tags, and technical information

price through a global auction process. about the engines which are supplied by

Combined with Global AVX’s industry-first Calgary, Alberta and Scottsdale, Arizona the broker. Buyers remain anonymous, the

full transparency report, bankruptcy profes- based Hopkinson Aircraft Sales is the debut auction is automated to ensure fair bidding,

broker looking to maximise the opportunity
sionals can now deliver complete account- presented by Global AVX, listing a 1997 and lasts for a period of two days to ensure all

ability to all of their transaction stakeholders. Cessna Citation Ultra aircraft for auction. genuine global bidders have the opportunity

The Global AVX online mechanism to participate. The sale must complete within

To eliminate time wasters Global AVX vets

supports aircraft transactions between all potential bidders, while looking to also two months of the auction taking place.

motivated aircraft brokers, as well as direct deal with qualified acquisition consultants on “We want brokers, owners or operators to

sellers, and international purchasers in a behalf of proposed purchasers. see this as a viable medium which extends

transparent, accountable and trustworthy their global capabilities for aircraft transaction

This pre-qualification is further enhanced

online environment. by anti-money laundering interrogation, and a activity. We are focused on helping them

With travel restrictions limiting physical achieve the deal no matter where the aircraft

sales negotiations Global AVX noted an validation of adequate funding. Each potential is parked. Our aim is to seamlessly integrate

purchaser is also required to place a certain

increased interest in high-value deals being percentage of the minimum reserve price into the business aviation community with

conducted online and is now acting as a in an escrow account prior to becoming a our innovative new technology platform,” said

market driver stimulating aircraft sales qualified bidder. global sales director Stephen Kelly.

internationally. “Our process also eliminates the tyre-kickers

The technology aims to complement and Bidders and/or their acquisition consultants, and ensures the aircraft for sale are qualified

enhance traditional broker activity and is are then given access to the Global AVX se- by professional data reports. In essence we

cure data rooms where they are encouraged

already attracting professionals seeking new to examine the aircraft specifications and are a software as a service platform enabling

and innovative ways to promote, market and relevant documentation including airframe aviation transactions between willing buyers

sell aircraft assets to a market which has seen logbooks, flight manuals, interior manuals, and sellers at prices determined by peer to

a spike in business and corporate aircraft own- peer interaction.” Q
HOW CAN WE ACCELERATE THE ciated with your ticket, and we think these

Continued from page 36 GROWTH OF SAF? are really positive initiatives.

There is real commitment from the The key to greater acceptance and de-
became the first aviation fuel supplier to industry to reduce carbon emissions, but ployment of SAF is reduction in costs. Over

be independently certified carbon neutral governments also need to create the right the long term, that will require investment

for into-plane fuelling operations at 250 policies to accelerate the growth of SAF. in advanced technologies to process feed-
locati ons. Increasing production requires long-term stocks more efficiently at greater scale and

SO WHY AREN’T MORE AIRLINES policy certainty to reduce investment investment in the development of sustain-

USING SAF? risks, as well as a focus on the research, able and scalable feedstock options.
However, in the short-term, interim sup-

Production of SAF is limited as the higher development and commercialization of port from governments and other stake-

improved production technologies and
cost for SAF is preventing wider uptake. innovative sustainable feedstocks. holders through policy incentives is needed.

Air bp is working on helping create more On an individual level, some airlines are This support needs to be part of a
demand in the short-term which will lead now providing passengers and corporate

to more production and hopefully customers with the option to fund the use long-term framework to give investors the

lower costs. confidence to make the big investments
of SAF in order to reduce emissions asso- required to grow supply. Q
World Airnews | December 2020
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