Jetrader - November/December 2012 - 20

appraisal

Boeing 767-300ER
Máximo Gainza Aviation Analyst Ascend, a Flightglobal Advisory Service Tel: 44-(0)208-564-6783 maximo.gainza@ascendworldwide.com

Total 767-300ER Passenger Fleet by Region (In Service with Airline Operators)

Background
The Boeing 767-300ER continues to operate in large numbers almost 25 years after first entering service with American Airlines. It shares the two-crew cockpit and systems commonality with the narrowbody 757 and offers three engine choices: General Electric CF6-80C2, Pratt & Whitney PW4000 or Rolls Royce RB211-524 engines. The 767-300ER has MTOWs between 282,000 pounds and 450,000 pounds and can carry a maximum of 245 passengers over ranges of 5,000-6,000 nautical miles, enabling it to fly on sectors as long as Madrid-Buenos Aires non-stop in addition to shorter sectors in higher-density configuration. There are currently 509 Boeing 767300ER aircraft in passenger service with 58 operators, 27 aircraft in storage with 20 companies (5 percent), with a further 16 aircraft on order with four airlines. The in-service fleet includes 316 aircraft powered by GE engines (114 equipped with winglets), 162 powered by P&W engines (57 with winglets), and 31 with RR engines.

Market Outlook
• Market values stable throughout 2012. • Steep depreciation curve for youngest vintages as last-offthe-line effect comes into play, compounded by 787 service entry. • Still perhaps the most affordable, efficient and readily available widebody on the market. Two engines and decent range a plus. • The 767-300ER continues to form the backbone of a number of legacy carriers, with which they are likely to be phased-out gradually. • Longest production run of any single jet airliner variant to date, spanning almost 26 years and set to continue for four to five more. • Winglets have further improved the 767-300ER’s performance, lowering fuel burn and increasing range.

Latin America & Caribbean 8%

Africa 5%

Middle East 2% North America 40%

Europe 23%

Asia-Pacific 22%

Top 5 B767-300ER Operating Lessors (In Service / On Order) GECAS ILFC AWAS Aircastle Advisor MC Aviation Partners/ Mitsubishi TOTAL Top 5 B767-300ER Airline Operators (In Service / On Order) Delta Air Lines American Airlines LAN Airlines United Airlines Japan Airlines TOTAL

Qty. 48 46 16 14 13 137 Qty. 58 58 40 35 32 223

Boeing 767-300ER
Year of Build 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 Current Market Value 9.00 9.00 9.00 11.20 13.90 17.00 20.50 24.40 28.70 33.40 38.50 44.00 50.25 59.25 2012 14.00 14.00 14.50 15.63 17.25 19.38 22.00 25.13 28.88 33.63 39.38 46.88 56.38 70.88 2013 12.81 12.81 13.27 14.27 15.72 17.62 19.97 22.76 26.11 30.34 35.46 42.13 50.57 63.45 2014 11.69 11.69 12.11 13.00 14.29 15.99 18.08 20.57 23.54 27.31 31.85 37.76 45.23 56.64 2015 10.64 10.64 11.02 11.80 12.95 14.46 16.32 18.53 21.17 24.50 28.52 33.75 40.35 50.42 2016 9.65 9.65 10.00 10.69 11.71 13.04 14.69 16.65 18.98 21.92 25.47 30.08 35.88 44.75 2017 8.73 8.73 9.05 9.65 10.55 11.73 13.19 14.91 16.96 19.56 22.67 26.72 31.82 39.61

Base Values at 2.0% annual inflation rate 2018 7.88 7.88 8.16 8.69 9.48 10.52 11.80 13.31 15.12 17.40 20.13 23.67 28.13 34.95 2019 7.08 7.08 7.34 7.80 8.49 9.40 10.53 11.85 13.43 15.42 17.81 20.91 24.80 30.74 2020 6.35 6.35 6.58 6.97 7.58 8.38 9.36 10.52 11.90 13.63 15.71 18.41 21.79 26.96 2021 5.67 5.67 5.88 6.22 6.74 7.44 8.30 9.31 10.51 12.01 13.82 16.16 19.08 23.56 2022 5.05 5.05 5.24 5.53 5.98 6.59 7.33 8.21 9.25 10.55 12.11 14.13 16.66 20.53

The aircraft values stated herein are the product and the property of independent third-party sources, and ISTAT neither approves nor endorses the information contained herein or the use thereof for any purpose whatsoever.

20 The official publication of the International Society of Transport Aircraft Trading


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Jetrader - November/December 2012

Table of Contents for the Digital Edition of Jetrader - November/December 2012

A Message from the President
Calendar/News
Q&A: Peter Barrett
ISTAT Europe 2012
State of the Regions: Middle East
A Day at the Races
Appraisers Seek to Improve Knowledge Base
Aircraft Appraisals
ISTAT Foundation
Advertiser.com/Advertiser Index
Jetrader - November/December 2012 - Cover1
Jetrader - November/December 2012 - Cover2
Jetrader - November/December 2012 - A Message from the President
Jetrader - November/December 2012 - Calendar/News
Jetrader - November/December 2012 - 5
Jetrader - November/December 2012 - Q&A: Peter Barrett
Jetrader - November/December 2012 - 7
Jetrader - November/December 2012 - ISTAT Europe 2012
Jetrader - November/December 2012 - 9
Jetrader - November/December 2012 - 10
Jetrader - November/December 2012 - 11
Jetrader - November/December 2012 - 12
Jetrader - November/December 2012 - State of the Regions: Middle East
Jetrader - November/December 2012 - 14
Jetrader - November/December 2012 - A Day at the Races
Jetrader - November/December 2012 - 16
Jetrader - November/December 2012 - Appraisers Seek to Improve Knowledge Base
Jetrader - November/December 2012 - 18
Jetrader - November/December 2012 - Aircraft Appraisals
Jetrader - November/December 2012 - 20
Jetrader - November/December 2012 - ISTAT Foundation
Jetrader - November/December 2012 - Advertiser.com/Advertiser Index
Jetrader - November/December 2012 - Cover3
Jetrader - November/December 2012 - Cover4
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