Essex Aviation Group, Inc. (Essex) recently completed a technical audit on a GIV-SP in order to determine for the lender whether the aircraft currently met the expectations of its condition and presumed market value.
In order to perform the audit, Essex completed a physical inspection of the aircraft, as well as providing an extensive research of the aircraft’s maintenance records. Of major concern was ensuring that modifications and installed equipment were properly approved as well as methods of repairs caused by damage. With the aircraft rarely on the ground, Essex was required to inspect the aircraft at a distant geographical location while performing an extensive records research at its home base.
In addition, due to the aircraft having been registered and operated in a total of four (4) separate foreign countries, Essex had to provide a high degree of effort to ensure all maintenance entries, recorded in various languages, were complete and offered required traceability.
“A few unique twists required us to devote some additional time and effort to complete this audit,” says Lee Rohde, President & CEO, Essex. “However, all parties involved were very satisfied with the end result.”
Essex Aviation Group, Inc. was founded in 2013 with the primary goal of providing clients with the most current industry knowledge and experience, a vital component in evaluating the many options available to meet their business and private aviation transportation needs. Essex has experience advising and representing clients in a wide range of services, including: New or pre-owned aircraft acquisitions, new aircraft completion management, pre-owned aircraft refurbishment and upgrade management, block and ad hoc charter services and more.