Management buyout of Atlantic Airlines

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Management buyout of Atlantic Airlines 2016-03-03T11:04:15+00:00

Project Description

Management buyout of Atlantic Airlines

HMT, led by partner Andrew Thomson acted as reporting accountants for the Royal Bank of Scotland in the management buyout of Atlantic Airlines from its parent company.

Atlantic Airlines, based at Coventry airport, operates a fleet of seven Lockheed Electra L188s to support international freight businesses on contracted night-time parcel deliveries across Europe. Atlantic Airlines takes responsibility for the timely delivery of thousands of parcels and cargo as well as providing a standby environmental spraying capability for the Coastguard in UK coastal waters.

Tony Auld led the management team in the buyout.

Andrew Thomson commented:

“Whilst due diligence confirmed the robustness of the business, our colleagues in our specialist transactional tax team who work closely with us on all due diligence assignments identified substantial issues with the proposed deal structure. However, they were able to propose a revised structure which avoided significant potential tax exposure.”