COVID – 19 Problem Statement for Insolvency Practitioners/Agents and Global Accountants involved in the Recovery and Restructuring of AviationInfrastructure/MROs/ Airlines
COVID-19 has changed and will continue to change the face of all industries for months and years to come, the “good old days” are no more. The effects do not discriminate between Flag Carriers, Low Cost Carriers, Executive Charter, Training Schools and General Aviation as everyone has been affected. These are the headline casualties; our industry is built on a huge number of supporting Maintenance Repair and Overhaul (MRO) facilities; aircraft and component overhaul facilities; continuing airworthiness management organisations; modification design and production houses; pilot and crew training schools; engineering training schools and ground handling suppliers. There will be an increasing number of highly regulated and interdependent MROs for whom the end of the road has come, abruptly!
Compliance management is often paid lip-service to during corporate re-structuring, it is often seen as a hindrance to the business, where in fact it is keeping the business alive. Regulatory compliance, which is not discretionary, does in many cases distort the “traditional” administrators’ image of a business, what might be seen as an indirect employee, may be a post required by Regulation.
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IAG can support you when you are appointed as we have defined above. Our Team have held senior regulatory vetted appointments, in some cases, in some of the biggest names across our industry.