By Cirium2021-02-23T12:01:00+00:00
Lessors are discussing new rent-deferral arrangements with Air Europa as the Spanish carrier navigates towards fresh state-backed financial support, sources have told Cirium.
One lessor says it is negotiating a second deferral agreement with the airline, having had a first one in operation until December 2020. “We are looking to get at least the debt serviced, and [Air Europa parent] Globalia is looking to pay less,” the source says.
Source: Max Kingsley-Jones/FlightGlobal
Another lessor says that it is likewise in talks with Air Europa having received payments until December.
Europa Press on 11 February reported Valentin Largo’s appointment as chief executive of Air Europa, saying it had been mutually agreed by SEPI – a state agency set up to support companies impacted by the pandemic – and Globalia.
Aircraft Leasing Gains More Power, But Only At A Price
aviationweek.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from aviationweek.com Daily Mail and Mail on Sunday newspapers.
By Cirium2021-01-20T04:06:00+00:00
The pandemic has upended lessors’ market assumptions more than any crisis in the history of aviation, forcing them to reevaluate their approach to risk, an industry panel of lessors, lenders and remarketers has observed.
Ted O’Byrne, Carlyle Aviation Partners’ co-head of aviation, used to think about asset risk, financing risk and credit risk – “pretty much in that order” – but with the Covid-19 crisis things have now turned “completely upside down”.
Source: Wikimedia Commons
SpiceJet 737-800 in 2014
“First and foremost, discussions that we have when we originate transactions is: Who is the airline? Can they make it through the next six, 12, 18 months? Can they access capital? Can they shrink themselves to go through this crisis, and more importantly even, do they have relevance over the long term,” he says, speaking at a panel discussion at the Airline Economics Virtual Growth Frontiers Dublin event on 18 January.
Advertisement:
Primera Air shut down operations in October 2018, after years of struggling financially. With a mixed fleet of Boing 737s and Airbus A321neos, lessors quickly moved to take back their aircraft. After over two years, here’s a look at where Primera Air’s fleet ended up.
Primera Air had a brand new fleet of A321neos when it went bankrupt in late 2018. Photo: lan Wilson via Wikimedia Commons
Data in this article is courtesy of Planespotters.net.
The 737
The Boeing 737 was the backbone of Primera Air’s fleet for over a decade, operating on all its European routes. The Scandanavian airline had 10 of the narrowbodies in its fleet at the time of bankruptcy, consisting of two -700s and eight -800s. All the aircraft were all equipped with winglets and were fairly modern despite their age.
By Jon Hemmerdinger2021-01-12T16:26:00+00:00
Boeing logged another month of zero 787 deliveries in December 2020, while also receiving cancellations for another 105 737 Max.
On the bright side, during December Boeing resumed 737 Max deliveries and landed new orders for 90 jets, including 737 Max and widebody freighters.
In all of 2020, Boeing delivered 157 jets, including 43 737s, five 747s, 30 767s, 26 777s and 53 787s, its data shows. By comparison, Boeing delivered 380 aircraft in 2019.
The December activity leaves Boeing at year-end with 4,223 jets in its backlog, down 22% since the end of 2019 due largely to cancellations and accounting adjustments stemming from the pandemic-shattered aviation industry.
Air Canada 737 Max
“Through the global pandemic, we took meaningful steps to adapt to our new market, transform our business and deliver for our commercial, defence, space and services customers in 2020,” Boeing chief financial officer Greg Smith says. “The resumpti
vimarsana © 2020. All Rights Reserved.