Bankruptcy procedures

Started by Kazari, May 29, 2009, 07:26:11 PM

Kazari

When I went bankrupt today, I know that my ordered planes just vanished and that eventually the people behind me will work up the queue (and, yes, I know that we aren't on the new ordering system).

But I also was leasing a bunch of planes and owned some.

* I don't see the owned planes appearing in the used plane as Kaz Air (bankrupt) like I used to.

* I don't see the leased planes being distributed into the mix yet.

Can someone go into what I should expect to see? Because I'm not understanding what I am seeing.

Sami

Leased / owned planes go to the 'pool' of available aircraft (owned by brokers) and they are released to the market every daily a few planes at a time. To avoid for example just this overflooding of 50 planes of the same type when some big firm goes bust.

The planes don't disappear anywhere (that's a new thing too, no plane ever disappears from the world, even if it's scrapped the data is still there) but they just don't instantly appear on the used market.

Kontio

And these are very good changes, although bad for those who plan to lease their old aircraft after they declare bankruptcy.  :D

Kazari