Administrators for Dundee flight school Tayside Aviation are selling the assets of the collapsed Dundee company piecemeal.
The decision to sell assets come after no “viable offer” was received for the company, which fell into administration in April.
Administrators said “a number” of assets have now been sold, but did not give any details.
They said an update on asset sales would be provided in the next administrators’ report to creditors.
The company’s assets include 12 aircraft and a flight simulator, which was purchased for £300,000 just five years ago.
Initially the administrators focused on selling the business as a whole but said no suitable offers were forthcoming.
They are now looking to maximise the return for creditors by considering offers for individual assets.
That strategy almost certainly ends the Dundee Airport business’ chances of survival.
The Dundee business was owned by millionaire businessman Tony Banks, the founder of Perth’s Balhousie Care Group.
ACS Aviation acquires flight simulator
Perth’s ACS Aviation has acquired the flight simulator.
The ALX offers advanced technology simulation to all specific training requirements including simulation of small twin engine aircraft up to the ATR42 regional aircraft.
ACS Aviation managing director Graeme Frater said: “ACS Aviation has chosen to renew its confidence in ALSIM by purchasing the ALX Flight simulator from the administrators at Tayside Aviation.
“The new simulator will offer our student pilots and airline customers the opportunity to complete advanced simulator training.
“That allows them to apply directly to the airlines after graduating.
“Airline customers and graduates can also utilise the simulator for interviews and assessment preparation.”
Collapse of historic Tayside Aviation
The Dundee flight school fell into administration in April. More than 20 jobs were lost.
Its demise also left student pilots thousands of pounds out of pocket and facing uncertain futures.
The students have since been told they should expect to see ‘pennies’ in return for the tens of thousands of pounds they have invested.
In the wake of Tayside Aviation’s collapse, Perth’s ACS Aviation stepped in to help students and some of the 22 staff who lost jobs.
ACS Aviation investment plans
Earlier this year, the bosses of ACS Aviation revealed plans to invest £2 million in the business.
That came after a 20% rise in the number of students graduating from the flight school, based at Perth Airport.
It saw 120 pilots complete their training last year.
As the airport operator, the business is also responsible for operating the control tower, airport fire service and aircraft refuelling.
The Perth firm recorded turnover of £3.4m in 2022/23, up from £2.9m the year before. It predicts that will rise further in 2023/24.
