Airbus auction didn’t take off

By The Nation

 

 

A 270-seat Airbus aircraft that was put up for auction on Wednesday remains in a bay at Don Muang Airport after no bids were received.

 

It is the first commercial aircraft that the Legal Execution Department has put to auction and the starting price for the A310-222 aircraft was Bt30 million.

 

Penrawee Masang, an expert in bankruptcy, said that the aircraft was seized in a civil lawsuit filed by law firm Watson Farley and Williams Co (Thailand) against Asia Connect Airline and executive Sakkarat Chanthraporn.

 

She said that no one either wished to bid or inspect the asset, prompting the officials to cancel the auction. A second auction is scheduled for September 27, when the starting price will be reduced by 10 per cent to Bt27 million.

 

If no bids are received then, it will be offered again at a starting price of Bt24 million. If subsequent auctions are required, the minimum bid will be Bt21 million for three more rounds. 

 

A representative of Watson Farley and Williams said that the firm did not know what to do if no one really wanted to buy the aircraft, as the defendants have said they have no other assets to pay their debts.

 

In that case, both sides would have to discuss a solution to the case.

 

Those who want to bid will have to register with a Bangkok branch of the Legal Execution Department seven days before bidding day, and deposit a guarantee of Bt2.5 million in cash or cashier cheque.

 

The winning bidder will also have to pay Bt10,700 per day in rent for the plane’s parking space. That fee reached Bt4.2 million on Wednesday.

 

The aircraft’s last trip was from South Korea’s Incheon International Airport to Don Muang on January 13, 2016, after which it was impounded.

 

Source: http://www.nationmultimedia.com/detail/breakingnews/30325981

 

-- © Copyright The Nation 2017-9-6

I'm shocked...

4 minutes ago, snoop1130 said:

The winning bidder will also have to pay Bt10,700 per day in rent for the plane’s parking space. That fee reached Bt4.2 million on Wednesday.

Sounds like a deal.

Oh let them off just like the prestige car dealers they will pay their debt eventually maybe !

I would imagine a deal will be struck soon.....it will be sold very cheap and of course, not made public.

Was in the hands of a company that preys on the misfortune of others, hardly a surprising result. Time to hand it over to Honest and Realistic Co Ltd.

A 31 year old A310.

Anyone has an idea what the scrap metal value is?

Seems not 30 million Baht

Wow, cheaper than a Ferrari.

2 hours ago, KhunBENQ said:

A 31 year old A310.

Anyone has an idea what the scrap metal value is?

Seems not 30 million Baht

Must be in a pretty bad way if even some sub-Saharan frieght company with a creative interpretation of safety standards won't take it off their hands...

5 hours ago, KhunBENQ said:

A 31 year old A310.

Anyone has an idea what the scrap metal value is?

Seems not 30 million Baht

I think 25 years is old for an airliner.

 

I expect one this old would be expensive to run and maintain.

Most auctions I know do not have a starting price, just a finishing price nothing like getting an accountant to become involved with marketing and selling ?  Should make the whole thing "saleproof" ?

31 years old and they want 30 million...plus 4.2 Mill for incurred parking fees....they are dreaming.

 

I offer 1000b...and you can wipe the parking fees...as it was parked up whilst you had it for sale...not me!!!