Airborne Capital’s legal and professional fees climbed to nearly $4.8m (€4.2m) in 2023 after the company faced a lawsuit in London for alleged fraud.
The firm’s previous legal costs were $443,000 in 2023, compared to $2.3m in 2022, marking a ten-fold increase.
InterGlobe Aircraft Management Services accused Airborne of conspiring to mislead it into selling shares at a reduced price based on inflated revenue figures.
Airborne Capital recorded a $4.3m pre-tax loss last year, although revenues increased to $19m from $15.1m.
Anand Ramachandran CFO shared that Airborne Capital continues to pursue emerging opportunities, supported by its business alliance with Daiwa Securities The company shared that claims made against it and its directors ‘have no basis in fact or law. “Capital markets and investor demand for new aviation issuances/exposures is rebounding, offering aircraft trading and other opportunities.”
