Airbus Asset Management (AAM), the aircraft remarketing arm of the European manufacturer, had its busiest year in 2002 largely due to work generated by airline bankruptcies and is expecting a high level of activity in 2003.
The Toulouse-based division completed 31 aircraft placements last year, and signed memoranda of understanding (MoU) for 19 more deals. Its current portfolio comprises 41 aircraft - six A300s, 27 A310s, one A330 and seven A340s.
Last year was "a bit different to previous years in that we did more volume due to three airline bankruptcies - Ansett, Sabena and Swissair - which resulted in us remarketing aircraft on behalf of banks and European export credit agencies [ECAs]," says senior vice- president Asset Management Laurence Barron.
In 2002 AAM remarketed 12 ex-Sabena and Swissair A320 family aircraft, A330s and A340s on behalf of ECAs. Barron adds that AAM has MoUs for the placement of five ex-Ansett A320s which are expected to be firmed up in 2003.
Seven A340-200s were placed by AAM, five of which were ex-Lufthansa examples taken as part of a buy-back deal with the German airline and are being delivered to South African Airways this year on one to two- year leases. AAM also placed two eight-year old ex-Air Liberte A340-200s with Royal Jordanian on five-year leases, and negotiated a short-term lease extension for an A340-200 with Air Tahiti Nui.
The sale of eight A300/A310s was negotiated by AAM, including four A300B2/B4s that were sold for parting out. AAM also negotiated operating leases on three A300/A310s.
Barron expects that 2003 will be "similar to 2002 in volume terms, but largely involving our own portfolio. We have a lot more scheduled lease returns - mainly A300-600s, A310-300s and A340-200s," he says.
Source: Flight International
