Andrew Doyle/MUNICH
LTU is to undergo a radical fleet restructuring which will see the loss-making German charter-carrier operating an all-Airbus fleet by the end of 2002.
SAirGroup leasing company Flightlease has taken responsibility for fleet management at LTU and expects to finalise plans within the next two weeks to place around 20 Airbus A320/A321s and 10 A330-200/300s with the airline over the next two and a half years. LTU is 49.9%-owned by SAirGroup.
"We are in talks over a very significant fleet change for LTU," confirms Flightlease. "That means that by the end of 2002 LTU will have an all-Airbus fleet," it adds. The airline is unable to comment on the plans.
LTU's 15 Boeing 757-200s and seven 767-300ERs will leave the fleet, along with 10 leased 737-700s. It recently completed a sale and leaseback deal on 11 of the 757s with UniCapital of the USA.
The carrier has already received a used A320 leased from International Lease Finance as part of a separate deal agreed with Airbus late last year for 12 of the twinjets (Flight International, 17-23 November, 1999). Flightlease says it has yet to determine whether this batch of Airbuses will be taken by LTU as part of the fleet roll-over.
It is understood that LTU is likely to retain the youngest three of its seven A330-300s, which will be operated with six A330-200s to be sourced by Flightlease.
Flightlease says the extra A320 family and A330 aircraft will be sourced from a mix of its own aircraft portfolio, those of third-party lessors including the GATX/ Flightlease joint venture and through direct purchase by LTU.
The German carrier has racked up big losses over the past few years and aims to restore profitability by switching from 757s to smaller A320s and A321s and opening routes from German regional airports such as Münster, Osnabrück and Paderborn. SAirGroup has previously said that 757/767s would form the backbone of the fleets of European Leisure Group carriers, which include LTU.
Source: Flight International
