Focus Management Group

Transportation Industry Experience

Aircraft Management Company

Industry:

Transportation

Company:

Aircraft Management Company

Situation:

An aircraft management company specializing in custom charter services and experiencing liquidity problems required an interim Chief Financial Officer to manage all aspects of the company’s financial management and make improvements where possible.

Focus Scope:

Tasks Performed:

  • Provided FBO services such as mechanics and directly sourcing fuel and parts
  • Made changes to key positions within the accounting department to upgrade the overall skill set of the team and established formal job descriptions for each position
  • Implemented new procedures and timelines for monthly financial reporting and budgeting processes, including the preparation of a 13 week cash forecast
  • Negotiated payment plans with all key vendors, identified areas for expense reduction and managed all banking relationships
  • Established credit policies, helped resolve customer disputes and implemented procedures to ensure more accurate billing

Results:

  • The Focus Professional’s efforts as Interim Chief Financial Officer over the course of a five month period resulted in improvements in the areas of financial reporting, billing, overhead reduction, parts inventory management and overall cash management.
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