![]() One time we found a helicopter hidden inside a shed. Sometimes they're hidden in a private hangar. Then we work with scouts to help track its whereabouts, because in some cases the planes are hidden to avoid being repossessed. We begin by researching the aircraft and going through our records to determine what we already might know about it and its condition. Once a client calls us for a job, the first thing we do is get our team together and come up with a recovery plan. Yet if the insurance has lapsed or the aircraft aren't being maintained, there's no choice but to move in fast and get the aircraft back. Most of the aircraft that Popovich repossesses are the result of the owners defaulting on the payments.īefore we're called in to do a job, the bank has already notified the client that they've defaulted on payment and ideally tried to work something out. We're seeing more bankruptcies than we've seen in the past decades. ![]() We got it done in 24 hours.Īirlines are in a lot of trouble during the pandemic because limited travel means a lot of planes are sitting around all over the world. Our biggest job was for a bank client and involved securing 223 helicopters in 52 locations after a flight-training school was busted as a pyramid scheme and shut down. ![]() Since 1979, we've repossessed 1,986 aircraft. Our lowest-paying job was to repo a single helicopter for $20,000, and our highest-paying one brought in $3 million. If we aren't able to find the aircraft, we don't get paid. Some repo jobs have taken three years, others four hours. But when a client is faced with no alternative, that's when we come in to get the aircraft and get out. If the aircraft are insured and well maintained, we recommend trying to work something out. We advise our clients that repossession should be considered only as a last resort, after they've exhausted all other possibilities. Our clients all come by word of mouth because, to put it simply, we go places other people won't. Our business is based on my 120-acre ranch in Valparaiso, Indiana. Account icon An icon in the shape of a person's head and shoulders.
0 Comments
Leave a Reply. |