Emerald Airways Limited

Wyles Hardy & Co. were appointed by the Administrators and a leading UK finance house to value, market, and manage the realisation of Emerald Airways’ fleet of thirty regional freighter aircraft. This complex assignment required valuation of the aircraft, parts stocks and strategic planning due to varied aircraft types, condition and locations. The goal was to protect the assets’ value and achieve a disposal in line with stakeholder requirements.

The turboprop aircraft fleet included:
Five British Aerospace (BAe) ATP
Fifteen Hawker Siddeley HS748
One Shorts 330
Ten Shorts 360

Working closely with Stakeholders, we assessed the varied fleet aircraft types in different operational conditions, ranging from airworthy to essentially only being spare parts. With the fleets condition, undergoing major overhauls/refurbishments and some having structural reconfiguration modifications in Europe – the task was a significant challenge.

The scope of our instruction was carefully agreed to meet the Stakeholder’s needs and the practicalities of the immediate scenario, enabling strategic marketing and potential outcome advice to be provided in a timely manner. This enabled a realisation programme to be implemented and executed by the Stakeholders team.

This project illustrates Wyles Hardy’s expertise in valuing and realising complex aviation assets under challenging conditions highlighting our capability in managing both operational and valuation needs for distressed aviation assets across various locations. It also reinforces our experience in supporting finance houses and administrators through structured realisation programmes, contributing positively to Stakeholders’ outcomes.