Valiair Acquires SACI Trustee Following FAA Aircraft Grounding

Wyoming-based aircraft trust Valiair has acquired United Kingdom-based Southern Aircraft Consultancy Inc Trustee (SACI), following a Federal Aviation Administration - FAA action that grounded more than 600 aircraft registered to SACI. “We are delighted to announce that we have today reached an agreement with Valiair, who will be taking over ownership of SACI, with the goal of restoring compliance and getting all of your aircraft back in the air as soon as possible,” SACI said in a statement issued on January 14. The transaction follows an FAA action that invalidated more than 600 aircraft registration certificates issued to SACI, citing non-compliance with United States citizenship requirements at the time of registration. SACI director Faith Chmura told ch-aviation that Valiair will honour all fees already paid to SACI. Chmura added that SACI's United States legal counsel remains in discussions with the FAA regarding regulatory requirements and timelines. While no return-to-service date has been confirmed, SACI said regular updates will be provided. Valiair acquired the company through a full share purchase, chief executive Marco Reininger told Corporate Jet Investor (CJI). Reininger said all operations will subsequently be transferred to the United States, with the FAA responsible for determining whether the affected aircraft may return to service following the acquisition. Reininger added that Valiair's legal counsel remains engaged with the regulator and that the company is prepared to meet all regulatory requirements to restore operations as quickly as possible. Valiair currently serves as the registered trustee for more than 400 aircraft in the United States.