ISTAT Jetrader - Autumn 2019 - 44

APPRAISAL

Airbus A380
Martin O'Hanrahan
ISTAT Certified Senior Appraiser
Senior Consultant
AVITAS Inc.

martin.ohanrahan@avitas.com
www.avitas.com

commercially as the A380-800 in
June 2000. The program was officially
launched later that year on the strength
of 50 firm orders from six high-profile
operators. The maiden flight was in
2005, and the first delivery occurred to
Singapore Airlines in late 2007. Airbus
had also secured orders for an A380
freighter from FedEx and UPS, but these
were later canceled, and the variant
was withdrawn. The development of the
A380 can be regarded as an exceptional
technological achievement given its size
and complexity, with some operators
affording it "flagship" status.
As of July 2019, there were 235
A380s in service worldwide, with

two aircraft reported as being held
in storage while four units have been
retired. The backlog of firm orders was
significantly reduced recently when,
Emirates restructured its commitments
and is now only due to take 14
additional A380s. The aircraft was
also offered with either Engine Alliance
GP7200 or Rolls-Royce 970 engines,
with the former becoming the more
popular choice.
The operator base for the A380
is very concentrated, with Emirates
accounting for 47% of the operating
fleet and almost all of the outstanding
backlog. Most of the active aircraft
(71%) remain with the top five

Photo courtesy of Getty Images

T

he origins of the
A380 program can
be traced back to
the 1990s when
Airbus and Boeing
began studying
the concept of
a very large commercial transport
(VLCT) around the same time. Both
manufacturers saw potential in
developing a successor to the 747-400
but offering a double-deck design with
greater capacity. Boeing subsequently
withdrew from the exercise while
Airbus continued to pursue the idea.
The project was initially dubbed
the A3XX, and it was later offered

A380 Values as of 3rd Qtr. 2019 in US$ Millions

44

Build
Date

Engine Type

Base
Value

Current
Market
Value

Future Base Values as of 3rd Quarter @ 1.00% Inflation
2020

2021

2022

2023

2024

2025

2005

GP7200/TRENT 900

$34.2

$34.2

$29.6

$25.3

$21.5

$18.0

$14.8

$11.7

2006

GP7200/TRENT 900

39.6

39.6

34.5

29.9

25.6

21.7

18.2

14.9

$11.8

2007

GP7200/TRENT 900

45.6

45.6

40.0

34.9

30.2

25.9

22.0

18.4

15.1

$11.9

2008

GP7200/TRENT 900

52.2

52.2

46.1

40.4

35.2

30.5

26.1

22.2

18.6

15.2

$12.0

2009

GP7200/TRENT 900

59.3

59.3

52.7

46.5

40.8

35.6

30.8

26.4

22.4

18.8

15.4

$12.1

2010

GP7200/TRENT 900

67.2

67.2

59.9

53.2

47.0

41.2

35.9

31.1

26.6

22.6

19.0

15.5

2011

GP7200/TRENT 900

75.9

75.9

67.9

60.5

53.8

47.5

41.7

36.3

31.4

26.9

22.9

19.1

2012

GP7200/TRENT 900

85.6

85.6

76.6

68.5

61.1

54.3

47.9

42.1

36.7

31.7

27.2

23.1

2013

GP7200/TRENT 900

96.5

96.5

86.4

77.4

69.2

61.7

54.8

48.4

42.5

37.0

32.0

27.4

2014

GP7200/TRENT 900

110.1

110.1

97.5

87.3

78.2

69.9

62.4

55.4

48.9

42.9

37.4

32.3

2015

GP7200/TRENT 900

125.6

125.6

111.2

98.5

88.2

79.0

70.6

63.0

56.0

49.4

43.3

37.8

2016

GP7200/TRENT 900

142.8

142.8

126.9

112.3

99.5

89.1

79.7

71.3

63.6

56.5

49.9

43.8

2017

GP7200/TRENT 900

161.6

161.6

144.2

128.1

113.5

100.5

90.0

80.5

72.0

64.3

57.1

50.4

2018

GP7200/TRENT 900

182.3

182.3

163.2

145.6

129.4

114.6

101.5

90.9

81.3

72.8

64.9

57.6

2019

GP7200/TRENT 900

209.0

209.0

189.0

169.6

151.6

135.0

119.7

105.6

94.6

84.7

75.8

67.6

* T H E O F F I C I A L P U B L I C AT I O N O F I S TAT

2026

2027

2028

2029
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