European Aviation has concluded a deal worth an estimated $6 million to purchase two Boeing 747-100s from British Airways. The UK-based aircraft-trading and spares specialist is also close to finalising deals for other widebodied aircraft.
The company, which has purchased the two 24-28-year-old 747s with their Pratt & Whitney JT9D-7A engines, says that the aircraft will remain in operation with BA until early 1999. European says that it has not yet finalised its plans for them, but it is understood that the 747s could be operated by the company's airline division, European Air Charter, offered for lease , or broken up for spares.
BA concluded an agreement in 1997 to sell 14 of its 15 747-100s to US company AAR, but BA retained the right to remarket the aircraft, and has sold two to European. In 1997, European bought a major proportion of BA's surplus spares inventory, covering all types in the BA fleet. BA will begin retiring its 747-100s in September, when the first aircraft will be transferred to AAR, which may break up all of them for spares.
European Aviation says that it is finalising other major transactions. The company is understood to be purchasing six Airbus A300B2s from Air France, which would be delivered during the first half of 1998, but it is not yet known what the plans are for the aircraft.
Source: Flight International
