Steve Giordano
👤 SpeakerAppearances Over Time
Podcast Appearances
It's not like anybody can just go to an airport and say, I'm here to repossess a Spirit airplane.
It's not like anybody can just go to an airport and say, I'm here to repossess a Spirit airplane.
I mean, let's hope, right?
So the security is tight, and we had to find the right people involved, collect documents, and then be in touch with our clients' legal departments to get powers of attorney, letters, orders from the courts.
In cases, we had to present them to county sheriffs to gain access.
Spirit doesn't actually own most of the planes it flew.
The majority, more than 60 planes, nearly two-thirds of its active fleet, were leased.
And the owners want those planes back.
Steve Giordano is the managing partner of the Nomadic Aviation Group.
He says the first challenge for companies that are trying to repossess Spirit's planes is
Right now, they're parked at the gate or wherever they happen to be when Spirit went out of business.
Spirit is also looking to monetize anything it can.
Planes, engines, gates, even coveted landing slots at congested airports.
The biggest problem may be timing.