The International Bureau of Aviation (IBA) has completed the sale and transition of an ex-PrivatAir Boeing Business Jet. IBA was mandated in 2012 to exclusively remarket the aircraft for sale worldwide, and its technical team was also engaged to manage the redelivery back to the owner client.

PrivatAir had leased the aircraft in October 2005 and it was in operation from November 2005 until November 2011. The BBJ was under its care and maintenance from November 2011 until this year, when it left the fleet.

It had carried for KLM on a route from Amsterdam to Houston, however when PrivatAir's contract with KLM came to an end, the BBJ ceased operations. Marketing and communications director for PrivatAir Tanya Molskaya explains the reasons behind its decision to sell: “There are many challenges in operating such an aircraft successfully, and we think that the deciding factor is the customer demand, which is weak in the EU at the current time.”

Ben Jacques, who project managed the redelivery and remarketing for IBA, says: “We are very pleased to have been able to complete the sale of this aircraft in challenging market conditions and to deliver it in a tight timeframe to meet the new owner's operational requirements. The overall process has required considerable commercial effort and technical input from IBA's in-house team.

“We were delighted to unearth multiple opportunities for placement and to provide support at all stages of our client's sale process.”

IBA's commercial director, Owen Geach adds: “Our business jet and helicopter advisory business has grown significantly over the past two years, with more and more banks, investors, owners and operators turning to IBA for professional advice and management services.”