Case Studies

Discover the latest information on our firm and extraordinary team of professionals — and their thoughts in leading publications.

Business Plan Validation for a Start-up Airline in the Caribbean

Alton was engaged by a start-up airline, which was looking to launch ultra-low-cost carrier (ULCC) services in the Caribbean, to validate the ULCC’s business plan as well as its operating projections. This involved testing and validation of the key assumptions in the ULCC’s business model, as well as identification of…

Evaluation of eVTOL technology and environmental landscape

A leading Asian automobile manufacturer plans to enter the urban-air-mobility (UAM) market as an OEM and develop an eVTOL vehicle. The client engaged Alton to support the company better understand the market supply/demand dynamics, the regulatory environment, and develop a value proposition. Our Approach Alton performed a series of individual…

Component OEM Market Entry Strategy for China

A leading North American-based commercial aircraft component OEM engaged Alton to develop a market entry strategy to better support its Chinese airline customers - for both OEM new parts sales and MRO aftermarket support. Our Approach Leveraging the local expertise of Alton's Beijing office, we performed comprehensive market research benchmarking…

Due Diligence of a Leading Southeast Asian Low Cost Carrier (LCC)

In 2020, a leading Southeast Asian LCC underwent a capital raising exercise, issuing up to USD500M in convertible preferred shares and convertible bonds. Alton was part of the due diligence team for a private investor seeking to invest in the airline. Our Approach Leveraging its domain expertise, Alton provided the…

Airline Due Diligence and Fleet Restructuring

Following the onset of COVID-19, a leading airline with a fleet of more than 100 aircraft in the Asia Pacific region entered voluntary administration; court appointed administrators held a process to sell the airline to a suitable bidder. Alton's leading private equity client was one of the few shortlisted bidders,…

AeroEngine Component Manufacturer Due Diligence

A leading Pan-European private equity firm, with significant investments in industrials and other sectors, was evaluating an investment in a supplier of aeroengine components and sought the advice of a qualified and experienced aviation advisory firm to provide an independent, expert opinion on the commercial aeroengine market. Our Approach Leveraging…

Target Identification and Transaction Support for Aftermarket Services Provider Acquisition

Alton was engaged to serve as a strategic advisor by a Special Purpose Acquisition Company (SPAC) in search of a business combination in the aerospace and defense industry. Our Approach Alton first met with its client to develop an understanding of its investment criteria and objectives for a business combination.…

Aircraft Lessor Merger & Acquisition Due Diligence

A leading institutional investor active in the aviation finance sector identified a requirement for a team of third-party experts to provide commercial due diligence support in conjunction with a contemplated investment in a leading aircraft leasing platform and portfolio. Working in support of the client alongside the investment bank it…

Aircraft & Engine Asset Backed Securitization (ABS) Transaction Support

Since 2005, more than $50 billion in debt has been raised through asset-backed securitizations (ABS) to finance aircraft and engines in the operating leasing market. To support these transactions, numerous constituents including debt and equity investors, investment banks, lessors, and rating agencies require independent projections of aircraft maintenance condition and…

Operational / Financial Benchmarking and Growth Strategy Development for Airframe MRO

A recently acquired independent airframe heavy maintenance MRO had been under-capitalized and experiencing declines in revenue and profitability. Our Approach Alton performed a comprehensive financial and operational benchmarking and qualitative enterprise assessment, and gap and root cause analysis, to prepare a comprehensive business transformation plan and growth strategy. Successful Outcome…

Feasibility Study and Business Plan for European Commercial Engine MRO Market Entry

A European military engine OEM and MRO was facing a declining market for the engine models that it maintained and needed to pivot to new products and services. Our Approach Alton performed comprehensive market research and analysis to identify where favorable supply / demand dynamics existed to transition from a…

MRO Strategic Sourcing Support for Major Asia-Pacific Airline

Alton was retained to develop a comprehensive sourcing strategy to support the expedited emergence of an airline going through bankruptcy restructuring to include re-negotiating all MRO and ground handling contracts to include airframe, engines, components, APUs, landing gear, inventory, and GSE. Our Approach Leveraging Alton’s proprietary MRO cost market intelligence…

MRO IT Strategy Development and IT System Sourcing Support for European Airline

A fast-growing European low cost carrier was using an antiquated IT system to manage the maintenance and regulatory compliance for its fleet. The IT system vendor had advised that it was no longer going to provide product support, necessitating a new solution. Our Approach Alton was engaged by the airline’s…

Market Entry Strategy for eVTOL OEM

An eVTOL OEM was planning to develop an inter-city/intra-city flight business model for transportation services using its aircraft model as well as other eVTOL models in the market. Alton was engaged to conduct a series of studies to develop a roadmap for the OEM’s entry into the eVTOL market. Our…

Airline and Airport Software and Technology Market Dynamics Analysis for a Leading OEM

Alton was engaged by a large, global technology OEM seeking to better understand the connected airline and airport software and technology space to develop a path for success in the sector. Our Approach Leveraging its domain expertise, Alton provided the client with a comprehensive analysis of the "connected airport" and…

Buy-Side Due Diligence of a New-to-Market Business Jet Manufacturer

A financial investor had entered into exclusive discussions with a new-to-market business aircraft manufacturer and engaged Alton to provide preliminary due diligence on the target, including an assessment of the business aviation market, the competitive landscape, as well as advice on whether to move forward with the investment. Our Approach…

Analysis of Future Sustainability and Disruptive Trends in Aviation

Alton was engaged by a leading global private equity firm to identify and assess key sustainability and technological trends set to impact the aviation industry over the coming decade. Our Approach Alton identified six technological and sustainability-related trends and assessed both their timing and magnitude of impact. Disruptive technologies and…

Commercial Due Diligence of Leading Business Aviation Fixed Based Operator

Alton was engaged by a leading private equity firm to serve as commercial due diligence advisor on the acquisition of one of the world's largest FBO chains. Our Approach Alton organized seven main areas of focus into three key commercial due diligence workstreams: Market Considerations: First, Alton prepared a forecast…

New Technology Aircraft Program Product Positioning

Alton was retained by the management of a start-up aircraft manufacturer seeking to bring a novel-technology product to market. The company sought Alton's advice on how to position the product, which markets to prioritize, and how best to enter those markets. Our Approach Alton's team developed a bottom-up model of…

Middle East Airport PPP Operator Selection

A development company in the Middle East identified a requirement for a new airport to support regional tourism activities. The new airport under development would serve primarily an up-market clientele, requiring a non-standard approach. Alton advised the development company with all aspects of the operator selection process, including operator identification,…

Southeast Asia Airport Land Use Strategic Advisory

Client was recently awarded the concession of an existing secondary city airport for a big metropolitan area. Client wanted to develop the airport into a key regional hub, increasing the level of passenger, cargo, MRO, and business aviation activity. Our Approach Alton led the effort to develop a market study…

Air Cargo Supply Chain Improvement Study

Alton's client sought to better understand the current shipment tracking technology environment for temperature-controlled pharmaceutical products, spanning the entire B2B value chain (i.e., from initial product distribution to arrival at end distribution point/warehouse). In addition, the client also desired an evaluation of existing pain points within the value chain process,…

Asian Cargo Airline Strategic Fleet Advisory

One of Asia's largest air cargo operators was seeking to optimize its fleet management and procurement strategy. Given that most cargo operators rely on a finite supply of converted aircraft to fulfill their fleet development requirements, operators with growth aspirations are often required to aggressively and speculatively source large volumes…

Restructuring of Aircraft Lessor for Secured Lenders

Founded in 1990, Nordic Aviation Capital became the largest player in the regional aircraft leasing sector, including turboprops and regional jets. With a diverse portfolio and a global customer base, NAC enjoyed steady growth for decades. However, the onset of the COVID-19 pandemic in 2020 severely impacted the aviation industry,…

Case Studies

Case Studies

Business Plan Validation for a Start-up Airline in the Caribbean

Evaluation of eVTOL technology and environmental landscape

Component OEM Market Entry Strategy for China

Due Diligence of a Leading Southeast Asian Low Cost Carrier (LCC)

Airline Due Diligence and Fleet Restructuring

AeroEngine Component Manufacturer Due Diligence

Target Identification and Transaction Support for Aftermarket Services Provider Acquisition

Aircraft Lessor Merger & Acquisition Due Diligence

Aircraft & Engine Asset Backed Securitization (ABS) Transaction Support

Operational / Financial Benchmarking and Growth Strategy Development for Airframe MRO

Feasibility Study and Business Plan for European Commercial Engine MRO Market Entry

MRO Strategic Sourcing Support for Major Asia-Pacific Airline

MRO IT Strategy Development and IT System Sourcing Support for European Airline

Market Entry Strategy for eVTOL OEM

Airline and Airport Software and Technology Market Dynamics Analysis for a Leading OEM

Buy-Side Due Diligence of a New-to-Market Business Jet Manufacturer

Analysis of Future Sustainability and Disruptive Trends in Aviation

Commercial Due Diligence of Leading Business Aviation Fixed Based Operator

New Technology Aircraft Program Product Positioning

Middle East Airport PPP Operator Selection

Southeast Asia Airport Land Use Strategic Advisory

Air Cargo Supply Chain Improvement Study

Asian Cargo Airline Strategic Fleet Advisory

Restructuring of Aircraft Lessor for Secured Lenders

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