Seeking Liquidity, Iberia Offloads 1.5 Million Parts To AvAir
U.S.-based aftermarket inventory specialist AvAir has completed its largest parts transaction to date by acquiring 1.5 million consumable components from Iberia Maintenance.
The deal to buy the parts from the Spanish MRO provider also includes 30,000 rotable components and will see multi-year MRO support for CFM56, V2500, RB211 engines. Iberia maintains the three engine types from its specialist facility in Madrid.
“AvAir created a strategic solution that addressed our needs,” said Iván González Vallejo, director of strategy and supply chain for Iberia Maintenance. “This agreement not only provides liquidity, but a rapid adjustment of our asset needs going forward…”
In the past year, Chandler, Arizona-based AvAir has made several additions to its parts stock as both airlines and MRO providers have sought better liquidity during the novel coronavirus crisis.
These have included 9,000 line items valued at $10 million from Lufthansa Technik, A320 rotable pool from HAECO, and surplus inventory from Sabena Technics.
Mike Bianco, CEO of AvAir, told Aviation Week last month that the company has maintained growth over the past three and is now looking at acquisition targets.
These targets, according to Bianco, will include “smaller parts suppliers with a unique geographical position we don’t have or perhaps close ties with an operator we aren’t actively involved with.”