The Miami-based parent company of charter airline iAero Airways and aviation maintenance firm iAeroTech, which combined employ 860 workers, is slated for bankruptcy auction, the South Florida Business Journal reported. iAeroAirways lists its headquarters as being located in Miami with its operational headquarters at Piedmond Triad International Airport in Greensboro, where it is believed to employ fewer than 100. The company was founded in 1997 as Swift Air, which iAero Group acquired and rebranded as iAero Airways in 2019. It operates a fleet of 42 aircraft. U.S. Bankruptcy Judge Robert A. Mark approved the auction and bidding procedures for AeroTech Miami on Oct. 17. The bid deadline is Dec. 1, the auction takes place Dec. 6 and a court hearing to confirm the auction result is scheduled for Dec. 13 in Miami. The minimum purchase price is $216.3 million, which represents the value of AeroTech’s secured loans with Synovus and BXC Bridge, an affiliate of Blackstone. Under the judge’s order, BXC Bridge is allowed to submit a credit bid, but it must include enough cash to repay the Synovus loans.
