18th February 2026: The joint liquidators of GTLK Europe DAC and GTLK Europe Capital DAC have completed the sale of three Boeing 777-300ER aircraft, comprising of two aircraft located in the United States and one aircraft located in Spain, as part of the ongoing liquidation of GTLK Europe.

The sales processes for the aircraft were launched in September 2025 following the successful recognition of the Irish liquidation proceedings under Chapter 15 in the United States. This development allowed the Irish court-appointed liquidators to be recognised by the US bankruptcy courts and enabled the unblocking and sanctions-compliant sale of the US-based aircraft.

The three aircraft have been sold to MTU Leasing, based in Amsterdam. The engines are in full-life condition and will be leased out, while the airframes will be utilised for parts and materials recovery. The transaction will see six GE90-115B engines redeployed, supporting increased engine availability at a time of ongoing global supply chain constraints across the aviation sector.

IBA acted as the exclusive remarketing agent for the transaction, managing the marketing and sale of the aircraft on behalf of the joint liquidators.

Joint liquidators for GTLK Europe DAC & GTLK Europe Capital DAC, Damien Murran and Julian Moroney, Teneo Restructuring Ireland, commented:

“The completion of this complex transaction represents a significant milestone in the liquidation process. Securing Chapter 15 recognition in the United States was essential to facilitating the sale of these aircraft within the relevant legal and sanctions frameworks, enabling the delivery of strong returns for creditors. Moving forward, we remain focused on maintaining momentum and continuing to realise assets for the benefit of creditors.”