This aerospace company is involved in all aspects of selling airline parts. This includes acquisition, engine sourcing, airframe and engine material sales, and other related services. Considered a full-service parts and engine material sales company, operations were hard hit starting in March when the weight of the global crisis started to settle. Air-travel stopped in some parts of the world; in others it slowed considerably. This company projects a more than 50-percent decline in sales. They cut their overhead by half and eliminated 29-employees. They approached us for payment relief, and we were able to defer payments for 90-days.
*These case studies are provided for informational purposes. The names of the customers and the specific details of their business and situation have been withheld. Qualification for Onset’s COVID-19 Relief Program is subject to review and approval by Onset and its underwriters.
90-Day Payment Deferral