Air Partner Remarketing - 07 Jul 2017
Developed in the 1960s and first seen in commercial service at Heathrow in January 1970, the Boeing 747 “Jumbo” became the “Queen Of The Skies” due to its imposing size and passenger appeal.
It also opened up new markets driven by its reduced unit costs and unmatched performance capabilities. The Jumbo was simply a must-have; for decades, having the 747 in the fleet defined a “leading” airline or national “flag carrier”.
However, the advent of large twin-engined aircraft such as the Airbus A330 and Boeing 777 in the 1990s with their associated “ETOPS” (Extended Twin Operations) capability and reduced operating costs started to nibble away at the 747’s market, made worse when Airbus introduced its “Super Jumbo” A380 in 2007.
Despite Boeing having introduced its latest and largest 747, the -8, to compete, it has sold less than the A380 and largely to the freighter market where its unique nose door continues to provide operators with an economical way of moving heavy and outsize loads.
A number of leading airlines continue to operate the 747, including Lufthansa, Korean Air and British Airways; which, with more than 30, still operates the largest fleet of 747-400s. Many others including Singapore Airlines United Airlines and Delta Airlines have either replaced their passenger 747 fleets entirely or are planning to do so.
The fate of most Jumbos is to be “parted-out” by specialist companies which then supply the remaining fleet with those parts or scrap them entirely. Indeed, Air Partner sold two B747-400s earlier this year for its client, China Airlines. These will almost certainly never fly again as complete aircraft but will support the active fleet with parts for many years.
Air Partner Remarketing Services (formerly Cabot Aviation) is a specialist aircraft remarketing agent which acts for airlines (flag carriers and regional) and other aircraft owners, such as banks, operating lessors, manufacturers, insolvency practitioners and high net worth Individuals, to dispose of their surplus aircraft including commercial jets, turboprops, helicopters or private jets, either by arranging a sale or lease of the aircraft. It also advises clients on the acquisition of aircraft and their fleet management process. Its current exclusive remarketing mandates currently cover the following aircraft for sale or dry lease:
Commercial - ATR72, A330, B777, B787-8 and E145
Corporate – King Air 200, Learjet 60XR, Challenger 850 and B787-8
Air Partner Remarketing Services also specialise in providing wet lease capacity on all types.