Iain May

CFO, Senior Vice President and Partner

Airline transaction, restructuring, MRO and end of lease lead

Iain May is the former CEO of Bland Group, where he led their restructuring following the sale of GB Airways to easyJet. He also held CFO positions at GB Airways, Jazeera Airways and First Choice Airways.

At GB Airways, Iain managed a successful company-wide profit improvement and turnaround plan and alongside the CEO, led the sale of the business to easyJet in 2008 for £103.5 million, along with the sale of Heathrow slots for a further £90m. Iain has led and supported complex cross border transaction and international airline restructuring assignments. He has developed our bespoke airline benchmarking methodology, which is used to identify areas of competitive weakness and is then used to support implementation of business change programmes.

Iain brings 20 years’ experience to MRO assignments, from both in-house airline and consultancy perspectives. He combines engineering finance and lease management expertise with a deep understanding of how to mitigate engineering cost risk within an airline. He has led a number of significant successful assignments in this area, including:

  • Identifying and helping an airline avoid a $400m+ exposure on a long term engine contract
  • Restructuring a major flag-carriers’ engine overhaul strategy, reducing costs by more than $100m
  • Restructuring an airline group’s heavy maintenance provision, leading to 25% cost savings
  • Led airport slot valuations and airline union negotiation assignments

Iain is a Chartered Management Accountant (ACMA), holds a Postgraduate Certificate in Management from Henley Business School, and was awarded ‘Most Innovative Deal of the Year 2005’ by the Airfinance Journal for leading Jazeera’s initial four-aircraft financing transaction worth USD150 million.

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