Executives from China's HNA Group and a US private-equity firm, Bravia Capital Partners, will head to Europe this week to try to win over lenders still wary of the consortium's bid to take over the aircraft-leasing business of collapsed Allco Finance.
The roadshow marks their latest effort to close a deal that they believed was sealed in May, when their bid for the 68-aircraft fleet was declared the winner by the receiver representing Allco's creditors.
Several banks that hold Australia-based Allco's debt backed by specific aircraft have threatened to exercise their right to veto the agreement, triggering a stalemate that now threatens to leave Allco Aviation in limbo into the autumn.