Market Intelligence: -Airline Aircraft Orders

ADS Group: ‘Best Q1 for Global Aircraft Orders Since 2014’

UK Premier Trade Organisation, ADS Group, which represents and supports more than 1100 UK businesses operating in the aerospace, defence, security and space sectors and owns Farnborough International Airshow shared the following statement:

The first quarter of 2022 has seen a very strong start to the year and continuation of recovery in market confidence, with 420 global aircraft orders placed, the highest Q1 orderbook since 2014 and a 31 per cent increase on Q1 2021.

Aircraft manufacturers delivered 237 aircraft in Q1, an overall increase of 17 per cent on the same period in 2021. Although demand for single-aisle aircraft continues to dominate market recovery, deliveries for both single-aisle and wide-body aircraft increased by 16 per cent and 24 per cent respectively in Q1 2022. The increase represents a significant manufacturing value of £3-3.5 billion to the UK despite the slower rate of recovery for the wide-body and long-haul market.

UK aerospace manufacturing output remains significantly weaker than February 2020, with output 39.7 per cent smaller, and just 0.3 per cent growth in February 2022. However, there continue to be positive signs of recovery in both aircraft orders and delivery.

Based on current delivery trends and production expectations from manufacturers, ADS forecasts a final 2022 aircraft delivery figure of 997 aircraft, a rise of around four per cent from 2021. The forecast will be updated following the Farnborough International Airshow in July.

Latest flight data shows encouraging signs of recovery with UK flight arrivals and departures now recovering to under a 20 per cent reduction from comparable data in 2019. Recovery has been on an upward trend since February but has also been driven by flights during the Spring break.

The backlog of aircraft remains above 13,000 and continues to rise with demand and market confidence with 2 per cent growth on Q1 2021 and represents several years’ worth of work worth around £182 billion to the UK aerospace sector.

ADS Chief Executive, Kevin Craven said:

“The best Q1 orderbook for aircraft since 2014 is a very promising sign of the continuation of recovery seen throughout last year as airlines begin to look to the years ahead and the opportunity to renew their fleets with greater confidence.

“The ADS forecast is close to 1,000 aircraft for the first time in two years and is an important symbol of progress the aviation and aerospace industries have made in recent months.

“The UK’s aerospace employers are keen to see the path to full recovery maintained and ADS will continue to work with Government, industry, and members through ongoing supply chain and labour issues to support planned increases to manufacturing rates.”

Source: ADS Press Release

For more information, kindly contact ADS.

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Airbus Releases Report on May 2022 Orders and Deliveries

Global Aircraft Manufacturer, Airbus, for May 2022, successfully delivered 47 aircraft to 27 customers globally. In the same month, there were 13 aircraft orders made. In total, for 2022 deliveries to end of May, Airbus has delivered 237 aircraft to 58 customers.

Major deliveries:

  • 30 A220-300 for JetBlue Airways
  • 20 A220-300 for Aviation Capital Group
  • 20 A220-300 for Azorra Aviation
  • 60 A321 for BOC Aviation
  • 20 A320neo for BOC Aviation

Other deliveries were noted but customers were undisclosed.

Source: Airbus

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Aircraft Leasing Firm Acquires 37 Aircraft Portfolio

US based Aircraft Leasing Firm – Azorra recently completed the acquisition of a 37 aircraft portfolio formerly owned by Nordic Aviation Capital (NAC). The portfolio is comprised of 29 Embraer E-Jets and eight ATR and Q400 turboprops leased to 13 different airlines worldwide. The aircraft are financed by a lender group led by BNP Paribas.

“We are thrilled to add these aircraft to Azorra’s growing portfolio, while expanding and diversifying our customer base,” said John Evans, CEO of Azorra. “These aircraft are ideally suited for today’s market dynamics and are leased to well-known airlines around the world. Azorra’s management team has a long and successful history with BNP Paribas and originated a majority of these leases prior to the sale of Jetscape to NAC. We were pleased to work with BNP Paribas and its lender group on this transaction.”

“We recognize in Azorra a strong leasing platform in the regional aircraft market and a trusted partner who stood by us while we navigated with our lender partners a complex environment and process,” said Bertrand Dehouck, Head of Transportation Capital Markets, Global Banking for BNP Paribas. “This 37 aircraft portfolio is in good hands, and we are pleased it contributes to scale up Azorra’s business!”

Azorra currently owns and manages 60 aircraft on lease to 18 airlines in 15 countries and has commitments to purchase 49 aircraft and spare engines including 42 new Airbus A220/ACJ220 and Embraer E2 aircraft.

About Azorra
Azorra is a relationship-driven commercial aircraft lessor providing lease, financing, and asset management solutions with a focus on regional, crossover and small narrowbody aircraft.  Azorra’s team is led by industry veterans with a shared history of success and has the financial backing of funds managed by Oaktree Capital Management, L.P. The company is headquartered in Fort Lauderdale, Florida and has an office in Dublin, Ireland.

Source: Azorra Press Release

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African Airline Orders 5 Boeing Aircraft

Boeing and Ethiopian Airlines Announce Order for Five 777 Freighters – Africa’s largest cargo operator expands its 777 Freighter fleet to support near-term cargo demand

Boeing and Ethiopian Airlines announced the carrier is further expanding its all-Boeing freighter fleet with an order for five 777 Freighters.

“The addition of these five 777 Freighters into our cargo fleet will enable us to meet the growing demand in our cargo operation. While cementing our partnership with Boeing with new orders, the growth of our freighter fleet takes the capacity and efficiency of our shipment service to the next level,” said Ethiopian Airlines Group CEO Mr. Mesfin Tasew. “We always strive to serve our customers with the latest technology aircraft the aviation industry could offer. Our cargo terminal is Africa’s largest, coupled with fuel-efficient freighters and well-trained cargo handling professionals will enable our customers get the best quality shipment service. Customers can rely on Ethiopian for wide-ranging cargo services across five continents.”

Boeing’s market-leading 777 Freighter is the world’s largest, longest-range and most capable twin-engine freighter flying with 17% lower fuel use and emissions to prior airplanes. Ethiopian Airlines operates a fleet of nine 777 Freighters, utilizing the model’s range of 4,970 nautical miles (9,200 km) and maximum structural payload of 107 tonnes (235,900 lb) to connect Africa with 66 dedicated cargo centers throughout Asia, Europe, the Middle East and the Americas.

“Ethiopian Airlines’ all-Boeing freighter fleet provides them with unrivalled capability and flexibility as Africa’s largest cargo operator,” said Ihssane Mounir, Boeing’s senior vice president of Commercial Sales and Marketing. “These additional 777 Freighters will enable Ethiopian to capitalize on near-term cargo demand, while positioning the airline for further expansion in the future.”
In early March 2022, Boeing and Ethiopian Airlines also announced the signing of a Memorandum of Understanding for the carrier’s intent to purchase five 777-8 Freighters, the industry’s newest, most capable and most fuel-efficient twin-engine freighter. Ethiopian Airlines also operates three 737-800 converted freighters, as well as a combined passenger fleet of more than 80 Boeing jets, including 737s, 767s, 777s and 787s.

Source: Boeing Press Release

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