Lessors represent 20% of Farnborough orders | News | Airfinance Journal

Lessors represent 20% of Farnborough orders

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Orders and relationships, between aircraft and engine manufacturers and their customers, are at the heart of air shows.

The 2022 Farnborough air show marked the return of an exhibition and display event in Europe for the first time since 2019 in Paris.

It was marked by the usual technology announcements and market forecasts while commercial orders reflected the ongoing focus on one segment of the market: narrowbodies.

The biggest order was from Delta Air Lines for 100 Boeing 737-10s. Boeing also confirmed a memorandum of understanding (MoU) with Qatar Airways for another 25 737-100s, to replace an order for 50 A321neos that was terminated earlier this year.

In terms of market share the Boeing orders do not dramatically shift the needle for Boeing and Airbus in the large single-aisle segment where Airbus continues to dominate. However Boeing grabbed the headlines with half a dozen customers.

Delta was not going to rely on a single aircraft manufacturer and its Boeing announcement along with 12 Airbus A220s was seen as an effort to balance different interests, as discussed by Airfinance Journal ahead of the air show.

Cargolux announced the section of the Boeing 777-8F as the replacement for its ageing 747-400F fleet. The carrier has for a long time been considering the future of its 747-400F fleet as Boeing is due to end production of the model later this year. At the air show, Cargolux did not confirmed how many of the aircraft it plans to order, but according to Airfinance Journal's Fleet Tracker its fleet includes nine 747-400Fs, four 747-400ERF. The carrier also operates 16 747-8Fs.

On the Airbus side, only three follow-up orders - 12 A220s for Delta, 56 A320neos for Easyjet and 12 A321neos for Latam Airlines - were confirmed by the European manufacturer. However, Airbus came to the air show with commitments from Chinese carriers for almost 300 A320neo-family aircraft.

As expected, few widebody orders were announced; Aercap signed for five 787-9s and Azerbaijan Airlines agreed an MoU for four 787-8s.

Lessor announcements consisted of 67 firm orders, roughly 20% of the total firm orders.


Newly announced platform Abelo signed up for 20 ATR aircraft, confirming a MoU that was announced by its predecessor Elix Aviation Capital in 2019.

Aviation Capital Group and Aercap placed repeat orders for Max 8s and 787-9s, respectively while 777 Partners continued its commitment to the Max family with another 30 units, this time for the 8-200 model.

The regional sector also saw repeat orders for Embraer (Alaska Air Group and Porter Airlines) and ATR (Afrijet and Oriental Air Bridge) while the turboprop manufacturer further opened the Japanese market with up to 36 units from Feel Air, an upcoming Japanese regional airline holding company looking to start scheduled services in 2024.

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Transaction Snapshot
Air Company | Bond issue | 01-24 | $1.5bn
Financial Close:
11/02/2024
SPV:
Some Aviation Trust
Value:
$1,500.00m USD
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