AJW Group signs consignment agreement for A340-500
AJW Group has signed an agreement with a leading aircraft lessor to take on the consignment of an Airbus A340-500 MSN 572.
As part of the agreement AJW Aviation will consign the complete airframe, APU and engines, beginning the teardown December 2016. The aircraft teardown is being performed by Tarmac Aerosave in Spain, Europe’s largest aircraft storage company, with full traceability on all components involved.
AJW’s consignment business has completed over 50 individual projects to date, including airframes and engines. It specialises in extracting components and major assets from the aircraft and monetising them to achieve a higher return for the consignee through resale of the parts into the market.
AJW, which has an office in Dubai, was selected because of its technical expertise, global stock locations, sales teams and knowledge of the marketplace – making it a reliable partner to ensure the assets provide a good rate of return.
Conrad Vandersluis, vice president strategic of material and asset management at AJW, said: “This is an exciting opportunity for AJW, as our consignment team has a wealth of experience in this area and the part-out will help bolster our A340/A330 stock, benefiting our existing Airbus customers by increasing our service capability.”
When aircraft leasing companies consign an aircraft with AJW, the entire process is managed on their behalf, from customer requests to the sale, exchange and loan of components. This includes the tracking of parts, monthly sales reports and no additional administration fees – all of which is extremely popular with lessors and operators looking for a reliable partner.