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October 7, 2010

Japan Air Lines Sells Over Two-Thirds of 747 Fleet to American Leasing Firm

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Written by: BNO News
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U.S.-based AerSale on Thursday announced the purchase of a fleet of 19 Boeing 747-400s from Japan Air Lines. The fleet of passenger planes is powered by CF6-80C2B1F engines.

JAL had previously announced plans to eliminate all 28 Boeing 747-400 aircraft from its fleet by 2011 as part of a restructuring plan.

“With this single transaction we have made a substantial financial commitment to AerSale’s growth plan, enabling us to provide quality aircraft that have been impeccably maintained by a top-tier international airline,” said Nicolas Finazzo, AerSale’s Chief Executive Officer.

AerSale said that this was the second of several large scale multi-fleet acquisitions that are part of the company’s 2010 business plan. The company said that in the near future another announcement will be made soon.

“We believe most of these aircraft will continue to fly, whether as passenger aircraft or as freighters,” added Robert Nichols, AerSale’s Chief Operating Officer. “This said, we are proceeding to disassemble a few of the aircraft and a good many of the engines installed on wing so as to position AerSale to become the leading provider of aftermarket CF6-80C2 engines and material.”

AerSale is a global provider of aftermarket aircraft engines, and their component parts to airlines, leasing companies, and OEM/MRO service providers. Its parent company is AerSale Holdings Inc.

With reporting by Matt Molnar



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