ILFC To Part Out Aircraft Returned Through Customer Bankruptcies
By Andrew Compart firstname.lastname@example.org
Source: AWIN First
As Aviation Week previously reported, the Los Angeles-based lessor in September said it plans to increase the number of aircraft designated for part-out over the next year. So far this year, through October, ILFC has designated 10 aircraft for part-out and transferred them to AeroTurbine.
The AeroTurbine acquisition was driven in part by the need to deal with the older aircraft in ILFC’s fleet, out-of-production aircraft and lessened demand for used aircraft because of new-technology, more fuel-efficient replacements.
But airline industry financial troubles, particularly in Europe, also contributed to higher part-out numbers. Nine ILFC customers, including one with two separate operating certificates, have declared bankruptcy or ceased operations this year: Spanair, Malev, Global Aviation Holdings, Strategic Airlines (trading as Air Australia Airways), Mint Airways, Air Finland, OLT Express Poland, Wind Jet and Air Nigeria.