Posted September 17, 2008 11:45 AM
By Jake Reppert
ILFC - At a Glance
Given the events of the last 48 hours Ascend believes this synopsis of the ILFC fleet will be of interest. We have provided a brief breakdown of the ILFC fleet by aircraft type, by region, and by top 20 operators. Additionally, we have used data from our Ascend Online Fleets and V1 databases to approximate a generic half-life market value for the entire fleet.
ILFC – FLEET (Managed and Owned)
The ILFC portfolio is mainly composed of Narrowbody aircraft, with the A320, Boeing 737 Classic, and 737NG families accounting for just under 65% of their total fleet. Nearly 97% of the ILFC fleet is currently in service, with 62 leases scheduled to expire in the next six months, representing 17% of their portfolio.
ILFC Fleet | ||
| Aircraft Type | Total |
Airbus |
|
|
| A300-600R | 4 |
| A300-600RF | 2 |
| A310-200 | 1 |
| A310-300 | 7 |
| A319 | 131 |
| A320-200 | 169 |
| A321-100 | 12 |
| A321-200 | 67 |
| A330-200 | 60 |
| A330-300 | 30 |
| A340-300 | 17 |
| A340-600 | 13 |
McDonnell-Douglas |
|
|
| MD-11F | 3 |
| MD-11 | 5 |
| MD-80 | 3 |
Boeing |
|
|
| B737-300 | 26 |
| B737-300SF | 4 |
| B737-400 | 35 |
| B737-500 | 17 |
| B737-600 | 6 |
| B737-700 | 78 |
| B737-800 | 123 |
| B747-300 | 2 |
| B747-400 | 13 |
| B747-400F/ERF | 4 |
| B757-200 | 69 |
| B757-200F | 2 |
| B767-200EM | 1 |
| B767-200ER | 2 |
| B767-300ER | 52 |
| B777-200ER | 40 |
| B777-300 | 8 |
| B777-300ER | 24 |
TOTAL |
| 1030 |
*Includes only commercial aircraft
ILFC – OPERATORS BY REGION
Europe is the largest customer for ILFC with just over 43% of their fleet placed with operators in the region. Nearly 30% of their fleet is in operation in the Pacific (Asia and Australasia), while less than 13% is placed with North American operators, which includes the largest single market for commercial aircraft, the United States.
Source: Ascend Online Fleets Database
ILFC – TOP 20 OPERATORS
Although listed separately, Air France/KLM account for 71 aircraft, or nearly 7% of the total ILFC managed portfolio.
Operator | Total Aircraft | Percentage of Portfolio |
Air France | 57 | 5.5% |
China Southern Airlines | 48 | 4.7% |
China Eastern Airlines | 23 | 2.2% |
Emirates Airline | 21 | 2.0% |
Spirit Airlines | 21 | 2.0% |
Aer Lingus | 18 | 1.8% |
Dragonair | 18 | 1.8% |
MALEV Hungarian Airlines | 18 | 1.8% |
Shanghai Airlines | 17 | 1.7% |
bmi | 16 | 1.6% |
ILFC | 16 | 1.6% |
Aeromexico | 15 | 1.5% |
Air New Zealand | 15 | 1.5% |
Cathay Pacific | 15 | 1.5% |
Iberia | 14 | 1.4% |
KLM Royal Dutch Airlines | 14 | 1.4% |
Finnair | 13 | 1.3% |
Shenzhen Airlines | 13 | 1.3% |
Virgin Blue Airlines | 13 | 1.3% |
Air Malta | 12 | 1.2% |
Source: Ascend Online Fleets Database
ILFC – GENERIC HALF-LIFE VALUATION OF OWNED PORTFOLIO
Ascend has prepared a generic half-life valuation of the ILFC fleet taking into account the following items for each aircraft:
- Aircraft Type
- Type Variant
- Year of Build
Items such as specification (additional items which add to the value of an aircraft, such as winglets and ETOPS certification) and utilization were not taken into account.
Ascend approximates the value of the ILFC owned portfolio to be in the order of $38.16 billion, and the overall value of the ILFC managed and owned (including SPCs and managed securitizations) portfolio to be in the order of $41.04 billion.
Leave a comment