Acquisition Agreement
Early in 2021 I was contacted regarding a Phenom100 which had been parked 2 years ago. The owner disclosed it was due a 120 Month Inspection, Gear Overhaul and double Engine Overhaul. Combined costs are nearly the value of the aircraft. I was unsure of the actual condition of the aircraft. My next step was to find a buyer with the willingness invest in time and cost required to return this aircraft to service.
I found two! Two offers were brought to the seller. The owner chose. Acquisition was not without its complications. Multiple liens, satisfied years ago, were not properly removed from the International Registry and FAA Registry. Removal of the satisfied liens presented a particular challenge due to action needed from the satisfied parties and time since satisfaction.
Two freshly overhauled engines were installed and the aircraft ferried to Naples Jet Center for its 120 Month Inspection and Landing Gear Overhaul. The preflight and ferry flight proved the aircraft to be in good condition in spite of the extended parking. By the close of 2021, I’m proud to report the removal of the liens from registries are nearly resolved and the aircraft is well on its way to return to service.
