r1200gs
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Post by r1200gs on Sept 9, 2022 13:45:46 GMT
Well, despite extensive searches to find where these might be for sale and complete failure to find them, it seems an offer has been made and we are back to a new inspection. How many years is this now? I suspect any offer will be derisory, the buyers will no doubt know the score. Pessimistic?
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Post by turton on Sept 9, 2022 14:30:30 GMT
I sent you a PM on June 28th , with the locations and photos of both of them. check your messages?
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r1200gs
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Post by r1200gs on Sept 9, 2022 14:47:04 GMT
I sent you a PM on June 28th , with the locations and photos of both of them. check your messages? Yes, I got them, thank you. I still could not find them for sale anywhere though.
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r1200gs
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Post by r1200gs on Nov 4, 2022 11:42:47 GMT
Nearly two months later and still nothing, no updates and no sign of these for sale anywhere that I can find. What the bloody hell.....
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Post by turton on Nov 6, 2022 18:28:58 GMT
Considering these are Russian built aircraft, with Russian engines, obtaining spares may now be a further difficulty and a reason not to want to buy them, or even offer them for sale. Also the airframes are now 40.5 years old, there must be more attractive options available to aircraft buyers and lessors.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Nov 6, 2022 20:43:15 GMT
Considering these are Russian built aircraft, with Russian engines, obtaining spares may now be a further difficulty and a reason not to want to buy them, or even offer them for sale. Also the airframes are now 40.5 years old, there must be more attractive options available to aircraft buyers and lessors. Most of them were apparently built in Kyiv ... so yes difficult but maybe not as impossible
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r1200gs
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Post by r1200gs on Nov 6, 2022 21:36:34 GMT
Considering these are Russian built aircraft, with Russian engines, obtaining spares may now be a further difficulty and a reason not to want to buy them, or even offer them for sale. Also the airframes are now 40.5 years old, there must be more attractive options available to aircraft buyers and lessors. The age of an aircraft like this means little to nothing if they are maintained, and spares are available all over the world. Are you for real? Why would there be any reason not to offer them for sale? On some sort of principle or what? The point is, where are they offered for sale?
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r1200gs
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Post by r1200gs on Dec 16, 2022 18:09:29 GMT
"An inspection of the aircraft has been undertaken after an interested party made an offer. They have since viewed the documents but we have not heard anything further. Our aircraft representative has chased and they remain interested but at this time we have to be sceptical about their intentions and are looking at other potential solutions. In reality if this continues without a sale soon then recovery may be unlikely."After YEARS of this loan paying nothing, years of me not even being able to find these for sale, now we are primed for a complete loss. In fact the last payment is damned near three YEARS ago. You lost all credibility, ablrate .
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squid
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Post by squid on Dec 16, 2022 18:27:16 GMT
This does not make much sense really. How might the aircraft have zero value, and what about the loan security? Storage costs could presumably be a factor, but who is paying this currently?
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r1200gs
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Post by r1200gs on Dec 17, 2022 9:11:39 GMT
This does not make much sense really. How might the aircraft have zero value, and what about the loan security? Storage costs could presumably be a factor, but who is paying this currently? Airplanes sitting rotting, not being flown and not being maintained soon become worthless or worse. That's why action should have been taken quickly and decisively even if a sale meant a loss, it would at least not have been a total loss. Of course, a loss would have looked bad so it was kicked down the road. The last payment made on this was March 2019?!
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eeyore
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Post by eeyore on Dec 17, 2022 10:48:10 GMT
.......After YEARS of this loan paying nothing, years of me not even being able to find these for sale, now we are primed for a complete loss. In fact the last payment is damned near three YEARS ago. You lost all credibility, ablrate . For me, Ablrate lost almost all credibility when they offered this loan! - a business proposition that was so woefully weak
- the aircraft to be used as security so unpopular in western Europe
- a borrower who started their air freight business in Kazakhstan in the nineties
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squid
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Post by squid on Dec 17, 2022 12:43:31 GMT
This does not make much sense really. How might the aircraft have zero value, and what about the loan security? Storage costs could presumably be a factor, but who is paying this currently? Airplanes sitting rotting, not being flown and not being maintained soon become worthless or worse. That's why action should have been taken quickly and decisively even if a sale meant a loss, it would at least not have been a total loss. Of course, a loss would have looked bad so it was kicked down the road. The last payment made on this was March 2019?! What about the uncapped personal guarantees from the Directors/Shareholders?
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IFISAcava
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Post by IFISAcava on Dec 17, 2022 13:18:41 GMT
Airplanes sitting rotting, not being flown and not being maintained soon become worthless or worse. That's why action should have been taken quickly and decisively even if a sale meant a loss, it would at least not have been a total loss. Of course, a loss would have looked bad so it was kicked down the road. The last payment made on this was March 2019?! What about the uncapped personal guarantees from the Directors/Shareholders? who were apparently wealthy individuals? I suppose very few P2P loans seem to get recovered this way (do we have a history of any substantial loans being recovered via PG?) Looks like this may have been a scam to sell two undesirable aeroplanes, given the business never actually started.
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r1200gs
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Post by r1200gs on Dec 17, 2022 17:11:20 GMT
Airplanes sitting rotting, not being flown and not being maintained soon become worthless or worse. That's why action should have been taken quickly and decisively even if a sale meant a loss, it would at least not have been a total loss. Of course, a loss would have looked bad so it was kicked down the road. The last payment made on this was March 2019?! What about the uncapped personal guarantees from the Directors/Shareholders? I'm not laughing at you....but..... HA HA HA HA HA HA HA HA HA. We have been right royally stitched up and yet another £4000 of my money is down the drain. There is no excuse for three years of this farce, DBW is well and truly outed. He's not even going to try chasing up a PG that he knows is not there, he has better plans for the future.
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GreenZero
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The early bird may get the worm, but it's the second mouse who gets the cheese
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Post by GreenZero on Dec 17, 2022 17:23:17 GMT
As DBW said himself back in January 2018 " Closing procedures are reasonably complex with aircraft but we had the team in......." Back in May 2018 his team had no problem being able to meet with the companys directors and major shareholder "We also had lunch with one of the major shareholders and they have plans for expansion of the service. We will be getting the update out when it is received"I maybe wrong, but I don't think this loan has links to the same crowd as the other loans which have shown to be inextricably linked. Having said that, absolutely shocking level of service from ablrate with this loan.
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