Friday 21 September 2018

Acumen Aviation to provide asset management services to CDB Aviation

Alok Anand, chairman and CEO of Acumen Aviation, with Eamonn Cronin, chief commercial officer of Acumen Aviation. Photo: David Conachy
Alok Anand, chairman and CEO of Acumen Aviation, with Eamonn Cronin, chief commercial officer of Acumen Aviation. Photo: David Conachy
Ellie Donnelly

Ellie Donnelly

Irish aviation-leasing services company Acumen Aviation has been selected to provide asset management services to CDB Aviation, a wholly-owned Irish subsidiary of China Development Bank Financial Leasing.

The services are in respect of CDB Aviation’s lessor fleet, which is in excess of 200 aircraft.

Under the terms of the agreement, Acumen will deploy some of its asset management platforms, including SPARTA, which Acumen said will give CDB Aviation clear ongoing fleet visibility and enable the smooth transitioning of aircraft assets in and out of CDB Aviation’s aircraft portfolio.

In addition, Acumen will deploy EMpower, its engine management programme, which provides data analytical insights and financial modelling capabilities.

"We have been collaborating with CDB Aviation for some time now," Acumen chief executive Alok Anand, said.

"This marks a significant milestone in further strengthening our relationship. Acumen has always believed in innovation and has successfully created a unique model of technology enabled asset management services."

Acumen provides basic services, such as aircraft inspections for asset-management purposes, so that investors can make an assessment of a plane's value, as well as more advanced analytical services, such as cashflow monitoring.

Previously based in India, the company has seen its business grow tenfold since it moved to Dublin 2013.

Initially, it had three staff in Ireland but that has grown to a full-time staff of 17, as well as a large pool of Irish contractors, in just over four years.

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