Selling of aircraft for less than outstanding loan amount

English Boards Community Support
1

Hi

I have unfortunately purchased an aircraft on credit without thinking it through properly.

It would appear that it is only feasible sell a used aircraft at a wildly discounted price, otherwise it never sells.

At the moment there is no way I can pay off the loan and I can only sell the aircraft for less than what I still owe.

Is this possible for me to sell the aircraft and retain the difference between the selling price and loan amount as an outstanding loan? The reduced weekly repayments is what I'm after, I can't afford the current instalments.

Thanks

2

Someone more advanced will be able to give you an answer. I have to ask though has your airline grown to a point that restarting is not feesable?

3

Actually just checked out your airline… I would restart personally. To lease roughly your fleet again on the used aircraft market it would cost about 4.6mil (2x E195s, 1xE135 and 2xDH4s) of the 10 mil

4

Thanks, decided to restart.

Not making that mistake again  :wacko: