10 October 2022
Team Acumen
Acumen Aviation and Global AVX Announce Collaborative Agreement
Dublin - 10-10-2022 – Acumen Aviation (“Acumen”), a leading global Asset Management Company and Global Aviation Exchange Limited, trading as Global AVX (“Global AVX”), are excited to announce their collaboration agreement with the intent to provide digital asset management to customers throughout their asset trading activities.
As a seasoned aviation sector asset manager, Acumen possesses a wealth of solutions at its fingertips, specifically designed to manage assets through the course of their lifecycle. Within Acumen’s core competencies is its digital success advisory (DSA) which specialises in bringing the latest in digital techniques and architecture to provide an array of solutions to the sector. Complimenting these competencies, Acumen's SPARTA digital platform comprises a variety of applications which can be deployed to augment aviation asset management processes and deliver efficiency, reliability, and accuracy to platform adopters in an intuitive and user-friendly manner. Through this collaboration, SPARTA will be an available option to customers for managing assets throughout the entire trading process.
Global AVX is the first of its kind, aviation asset auction house, providing the Aviation Industry with a transparent and accountable platform that delivers fund approved sale, purchase, and lease of aircraft. The Global AVX platform is independent with no ties to third parties and is dedicated to providing a clear and transparent process to enable vendors to achieve the best asset price within the global marketplace. Fundamental to this is the singular online digital auction process.
Through this exciting collaboration between the two companies, Global AVX will be able to offer a greater level of client transactional and post transactional technical and commercial data management and asset management assistance through the SPARTA platform, while Acumen will be in a position to offer a robust solution to meet a growing demand for digital asset trading.
Acumen’s Chief Technical Officer – Digital, Ameya Gore stated “This is an excellent opportunity for Acumen to further expand our digital solution offerings to the aviation leasing and financing community. Global AVX's trading platform is an ideal partner in our quest to make digital asset management a mainstream activity during asset trading whilst, at the same time delivering greater value to our customers.”
Global AVX CEO, Robert Bourke stated “This is a very exciting opportunity for both companies to leverage upon their respective platforms to provide increased ease in the disposal of an aviation asset. The mission of the Global AVX platform is to allow for the global market price to determine a true market price delivered through transparency, independence, and exclusivity. This is central tenet of the DNA and principles of Global AVX.
Core to the transfer of any aircraft, and fundamental to its value is the technical data and certification of the various technical works on the aircraft. Managing mass amounts of data is core to Acumen and allows Global AVX to leverage upon Acumen’s platform which has traded over $6 billion in aircraft. Acumen has the heritage and wealth of in-depth experience in dealing with large data with aviation assets through their SPARTA technology. The combination and collaboration of both companies creates an ability to provide prompt and efficient marketing and sales services to assist in the disposal of aviation assets.”
About Acumen Aviation
Acumen is an aircraft asset lease manager with a global platform, established in 2009, headquartered in Ireland with offices in India, China and the USA. Acumen’s management team has over 300 years of cumulative experience with a permanent staff of over 90 people. Acumen offers a full range of services throughout the lifecycle of the aircraft including aircraft sourcing, pre-purchase inspections (physical and records), project management, lease management, re-marketing, fleet audits, aircraft trading, powerplant management, aircraft valuations and CAMO services. Acumen embraces new technologies and has a dedicated digital business arm providing market driven products and services to the sector. This includes Acumen’s state-of-the-art asset management ERP platform, SPARTA, as well as its digital success advisory (DSA), offering specific software development and design solutions to help clients meet the challenges and requirements of the digital age. Its customers include aircraft lessors, airlines, banks, private equity and investors.
About Global Aviation Exchange Limited
The Global AVX vision is to enable Vendor’s to sell an aviation asset to a Global Market, while enabling the proposed Purchasers to complete a comprehensive due diligence of an asset so that they can become a fully informed buyer prior to considering a bid on an aircraft. Being an independent platform means that no conflict exists with any vendor’s and purchasers.
The platform is exclusively independent with no ties to third parties, the focus of the company is to provide a clear and transparent process to enable vendors achieve the best price within the global marketplace. Fundamental to this process is the singular online auction process where bidders are required to complete a registration process to permit them to engage in an auction, everything is completed online, including the bids, no telephone or email bids are permitted and each bidder has immediate viability of the bidding room and will also receive a notification of increased bids.
At the end of the bidding process all bidders receive a record of all bids that were placed on the aircraft, these bids a time stamped to the second and notes the unique reference number of the bidder and counter-bidding parties.
Auction
The principles and powers of auction have been around since the beginning of commerce to create an environment for two or more parties that wish to acquire the same asset and determine what price each party is willing go to achieve the winning bid.
Mitigation of Litigation
When professionals have been appointed by charge holders, their fundamental obligation is to secure the sale of assets to release funding that was previously provided. In achieving the balance owed does not extinguish the professional’s obligations to the original borrower, in certain circumstances the original borrower could have invested substantially in the asset with the balance being borrower and the security of the charge holder being established to enable enforcement.
When enforcement is commenced it is the obligation of those professionals to not only realize the amount owing but also to realize and release any balance back to the borrower. In failing to achieve market value, this creates a potential cause of action against the appointed professional, unless they can comprehensively illustrate their sales process in a transparent way.
Auction as a medium for a sales process can create a market price once marketed in the appropriate manner. In dealing with an aviation asset, one has the opportunity to market the aircraft to the appropriate global audience over an appropriate time frame.
Due Diligence – Data Rooms – Informed Bidders
Acumen Aviation provides a platform for proposed buyers to complete analyse of the technical data, Vendor’s, or professional parties instructed in the disposal process, must provide the critical data for review of proposed purchasers to complete their due diligence. A core obligation of any Vendor is to provide an accurate and informed position in respect of asset.
The collaboration of our two respective companies provides Vendors’ and third party professionals with the confidence that the asset can be brought to market with the data that creates an aviation assets true value.
For more information please contact:
Acumen Press Office: America
Location: Florida, USA
Phone: +1 954 999 8060
sean.oconnor@acumen.aero
Acumen Press Office: China
Location: Beijing, China
Phone: +861062434080
livia.liu@acumen.aero
Acumen Press Office: Europe
Location: Dublin, Ireland
Phone: +353 86 2424777
martin.corcoran@acumen.aero
Acumen Press Office: Central Asia
Location: GIFT City, India
Phone: +91 9004689225
ankit.harbhajanka@acumen.aero
Acumen Press Office: South Asia
Location: Bangalore, India
Phone : +91 8800701356
kumar.narayanaswami@acumen.aero
Disclaimer:
Cautionary Note Regarding Forward-Looking Statements; The statements contained herein may include statements of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. In addition to statements, which are forward-looking by reason of context, the words "may", "will", "should", "expects", "plans", "intends", "anticipates", "believes", "estimates", "predicts", "potential", or "continue" and similar expressions identify forward-looking statements. Actual results, performance or events may differ materially from those in such statements due to, without limitation, (i) general economic conditions, including in particular economic conditions in the Acumen Aviation Europe Ltd core business and core markets, (ii) performance of financial markets, including emerging markets, and including market volatility, liquidity and credit events (iii) the frequency and severity of insured loss events, including from natural catastrophes and including the development of loss expenses, (iv) mortality and morbidity levels and trends, (v) persistency levels, (vi) the extent of credit defaults, (vii) interest rate levels, (viii) currency exchange rates including the Euro/U.S. Dollar exchange rate, (ix) changing levels of competition, (x) changes in laws and regulations, including monetary convergence and the European Monetary Union, (xi) changes in the policies of central banks and/or foreign governments, (xii) the impact of acquisitions, including related integration issues, (xiii) reorganization measures, and (xiv) general competitive factors, in each case on a local, regional, national and/or global basis. Many of these factors may be more likely to occur, or more pronounced, as a result of terrorist activities and their consequences. The company assumes no obligation to update any forward-looking statement.