Mike Martin
Airbus Industrie¹s case on the market for the A3XX super jumbo was given a boost at the show yesterday when International Lease Finance (ILFC) signed a letter of intent for five of the aircraft. It brings to 27 the number of A3XXs subject to letters of intent and brings closer the production launch of the aircraft.
At the same time Airbus announced a total of $8 billion in deals; from ILFC, Finnair and British Midland.
ILFC chief executive Steve Hazy said his company had carefully evaluated the likely market for the A3XX ¡ subject of a major dispute between Airbus and Boeing. "The business case for the A3XX is that we have carefully analysed the high density intercontinental market for widebody aircraft," says Hazy. Based on our analysis, by 2005 between 30-40 city pairs will have reached saturation point. Therefore, the ability of 400-450 seat aircraft to serve these markets will be diminished.
He believes the aircraft will offer lessors good residual values. ILFC also announced it is buying another 82 Airbus aircraft; 62 A320s and 20 A330-200s. Total value of the deal is $7.5 billion.
Finnair announced it is to buy six A32s; two A319s and four A320s. The deal has a catalogue value of $300 million.
British Midland mean-while announced that it is to acquire two more A320s. British Midland mean-while announced that it is to acquire two more A320s.
Source: Flight Daily News
