Industry

Published on May 3rd, 2021 | by Alan Dwyer

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Aergo Acquires 20 Dash-8’s

Dublin based Aergo Capital Limited has completed the acquisition of twenty 2003-11 vintage Bombardier Dash 8-Q400 aircraft. This comes as Irish aircraft lessor, FPG Amentum secured a successful repossession of twenty aircraft from their previous operator Flybe. The sale was completed in the last week of April. FPG Amentum acted as technical servicer and remarketing agent on behalf of the senior financier of the aircraft. The aircraft were acquired ‘naked’ as they are all stored at various airports around the UK and Europe. In parallel, Letter of Intent (LOI) negotiations for the lease of a number of these aircraft are progressing.

CEO of Aergo, Fred Browne

Commenting on the deal, Chief Executive Officer of Aergo, Fred Browne said, “In the near-term future, there is growing appetite from the regional traffic sector and we believe the sector will lead the recovery post COVID. As part of Aergo’s strategic focus, investment in the regional and turboprop space presents great opportunities. We are confident in our ability to place these Aircraft in the near term and are in discussions with a number of players to quickly deploy a large proportion of this fleet.”

The former FlyBe aircraft have been stored since the airline ceased operations in March 2020. A number of their former aircraft are currently stored at Newquay, Exeter, Birmingham and Aberdeen in the UK, Saarbrucken and Weeze in Germany and Maastricht in Holland. A newly formed airline from the ashes of the previous airline by the administrators ‘FBE Realisations 2021 Limited (in Administration)’ will now change its name to ‘Flybe Limited’ and has recently been awarded numerous slots at Heathrow for routes to Edinburgh and Aberdeen in Scotland as well as three pairs of slots on the Heathrow to Newquay route. A spokesperson for the new Flybe has said, “We are extremely excited to announce the conclusion of almost six months of dedicated hard work by the great team at Flybe, the UK Civil Aviation Authority, the European Commission, and many others who made this announcement possible. This news represents a critical first step in our mission to accomplish the first-ever rescue of an insolvent British airline. Subject to further success with vaccinations and relaxation of travel restrictions, we plan to launch a new and much improved Flybe sometime this Summer on many of our former routes where there remains a critical need for a strong, reliable, and customer-focused airline. While our company will initially be smaller than before, we intend to grow, create valuable jobs, and make significant contributions to essential regional connectivity in the UK and EU.”

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