Former Bland Group Chief Joins Nyras 9th August 2011
Iain May appointed Senior Vice President
London, August 9, 2011: Nyras, the international aviation consultancy and investment company, has named former Bland Group Chief Executive, Iain May, as Senior Vice President.
With a top-level background in transaction management and air transport finance, Iain will work alongside existing Senior Vice President, David Huttner, who specialises in commercial and operational management, notably in the low-cost carrier sector.
Announcing the appointment, Nyras founder and Chief Executive, Richard Davey, said: This is a welcome, significant development for Nyras. Iain’s proven expertise as an industry leader – especially his experience in transactions, aviation financial management and financing – clearly enhances our value to clients.
“He and David will work closely with me to ensure the continued, successful growth of our company. As joint Senior Vice Presidents, they will spearhead business development and project management, as well as leading the 20-strong team of aviation experts working as Nyras Senior Associates in the UK and around the world.”
Iain May was formerly Chief Financial Officer for GB Airways and, after leading a successful turnaround programme, was integral to the £103.5 million sale to easyJet in January 2008. Following the sale, he then worked for two years as Chief Executive of Bland Group, the owners of GB Airways, restructuring and streamlining Bland’s remaining businesses and overseeing a number of acquisitions and investments, including the acquisitions and subsequent merger of Griffon Ltd and Hoverwork Ltd.
Iain drove the strategy to transform the merged Griffon Hoverwork from a ‘cottage industry’ to become the world’s leading hover raft manufacturer.
He returned to aviation in March 2010, becoming a Senior Associate with Nyras and, during the past year, has worked on several projects including due diligence related to a proposed airline merger, an airline restructuring, and an airline’s negotiations with its franchisor on its franchise agreement, among other projects.
Prior to joining GB Airways, as first employee and Chief Financial Officer of Kuwait-based Jazeera Airways, Iain worked from IPO to business launch, overseeing business planning and all high-value purchasing and contracting, including aircraft financing and maintenance. His work on bank financing of Jazeera’s first four aircraft – a US$150 million Traditional/Islamic financing facility negotiated with European and Kuwaiti banks – was recognised by industry awards, winning Aircraft Finance Journal’s ‘Most Innovative Deal of the Year;’ and Jane’s Transport Finance ‘Long Term Aircraft Finance Deal of the Year – Middle East 2005.’
In his earlier career, Iain rose within First Choice Holidays plc, starting as Head of Financial Management at Air 2000. After involvement in the acquisition of Unijet plc by First Choice, he became Finance Director of Unijet and the Finance Director of First Choice Airways, where he led a successful £40 million restructuring and profit improvement plan, following the events of September 11.
Nyras undertakes major business restructuring and transaction assignments for a wide range of airlines, airport groups, aviation services companies and industry investors. The company is based in the City of London and operates around the world.
For further information, contact:
Tony Cocklin
Nyras
40 Queen Street
London EC4R 1DD
Tel: +44 (0)20 7651 0780
Mob: +44 (0)7786 968956
Email: tony.cocklin@nyrascapital.com
Web: www.nyras.co.uk