# Aero Technics Aviation Limited (09309323)

> Why UK company 09309323 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/09309323

- **Status:** Administration ended
- **Administration began:** 2020-07-06
- **Administrators:** Philip Lewis Armstrong, Geoffrey Paul Rowley
- **Administrators' firm:** FRP Advisory
- **Incorporated:** 2014-11-13
- **Location:** London
- **Industry:** 52230 Service activities incidental to air transportation

## Why it went into administration

- COVID-19
- Parent or group failure

## From the administrators' statement

The recent impact of the Covid-19 pandemic had a significant and immediate impact on the Group, placing significant pressure on cash reserves. The largest effect beingthe suspension of the ATL contract by VAA with a balance outstanding of approximately £1.6m. Given the financial difficulties being faced by VAA it was made clear to management that this amount would not be paid for the foreseeable future. VAA subsequently terminated this contract with no notice on 1 July 2020.

In order to mitigate the impact on the business Management reduced the Group's cost base and agreeing payment plans with key suppliers, whilst also taking advantage of the furlough scheme and, PAYE deferment programmes. Group funds were also pooled to allow the various entities to meet costs when required. .

The Board sought a new strategic or financial partner that could support the business through the immediate Covid-19 challenges and engaged FRP Corporate Finance to commence a solvent sale process.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/09309323/filing-history/MzI3ODA2OTMzNWFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/09309323

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.