The May 2010 issue of the Smithsonian AIR & SPACE Magazine has an informative article on how Aircraft and Airliners are repossessed by banks and leasing companies. Sage-Popovich, Inc. is a unique company in a niche market, they take back aircraft from people that have defaulted on payments for leased aircraft.
Everything from corporate jets to 747’s, if you miss a few payments your airliner might not be there for that first flight of the morning. Sri Lanka, Africa, Italy or New York city, the folks at Sage-Popovich can handle just about anything that flies and the details to keep everything legal.
“Sage-Popovich carries out about 50 recoveries a year, some of multiple aircraft. The most common target are Boeing 737s, but Popovich and his team retrieve everything from 747s to luxury executive jets. Chasing smaller stuff—the “tinker toys”—isn’t cost-efficient for an operation that keeps as many as 60 people in the field at a time.”
It’s not all fun an games though, a death warrant from the President of the Congo, jail time and escorted deportations happen, it’s all part of the job.
No related posts.
Related posts brought to you by Yet Another Related Posts Plugin.
