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CAL to begin phased replacement of fleet

| 13/04/2016 | 60 Comments
Cayman News Service

Premier Alden McLaughlin, Deputy Premier Moses Kirkconnell, CAL Chairman Philip Rankin and CAL CEO Fabian Whorms at press briefing 13 April 2016

(CNS Business): Government has confirmed its approval of plans by Cayman Airways Limited (CAL) to begin phasing in a brand new fleet of modern aircraft to meet the expected growth in tourism. The national flag carrier is about to begin the tendering process to lease four new 737-8Max aircraft to replace its aging fleet. Despite years of government subsidies, CAL began to turn a profit for the first time last year and executives said their plans to lease modern planes, which will allow them to fly more people using less fuel, will enhance the airline’s bottom line and help the local tourism product.

The airline plans to begin with one 737-800, next generation plane as a transitional aircraft this year before the phased introduction of four brand new, state-of-the-art, Boeing 737-8Max aircraft between 2018 and 2020.

Speaking at a press briefing on Wednesday to announce government approval of CAL’s plans to modernize the fleet, the airline’s CEO, Fabian Whorms said Boeing’s 737-8Max aircraft are the newest, most efficient and reliable aircraft in their class. Joined by CAL Board Chair Philip Rankin, Premier Alden McLaughlin and Tourism Minister Moses Kirkconnell, Whorms explained that each new plane can carry 40 additional passengers than the current aircraft but use less fuel and require far less maintenance.

Government is anticipating a 20% increase in room stock over the next couple of years if planned projects get off the ground and Kirkconnell said the modernisation would start this November, By 2020, he said, all four of CAL’s 737-300s would be retired and the new fleet would guarantee the growth in tourism air arrivals.

“Cayman Airways will now have the range to be able to reach any part of the United States and most of Canada with a significant growth in capacity, poising the airline to increase the $200 million economic contribution to the local economy annually. We are also pleased to state that due to the airline’s continued positive financial performance, with the full support of the government, no guarantees or other contingent liabilities were necessary,” he said.

Rankin said CAL had begun its projected business plan to turn the airline around with the purchase of the 737-300s in 2014 with the understanding that those planes would only be used for 3-5 more years. “As we embark on this next step in our plan, we have selected the new Boeing 737-8Max aircraft, which have lower operating costs but come with 30% more seating capacity,” he said.

With unparalleled levels of reliability, service and comfort, and low operating costs, he said the new aircraft would assist with the continued success of the airline. “Just as our 737-300 purchase brought strong financial benefit to the airline, we are certain that this new step in our plan will again prove to be the right decision.”

During the 2014/15 financial year CAL delivered a profit of US$3.64M and for the first eight months of the current fiscal year it has already exceed that figure. The officials all said that the strong financial performance was the foundation for the proposed fleet modernisation.

Whorms said that with a 20% cut in fuel costs, the highest reliability rating of any aircraft, and major design improvements resulting in lower maintenance costs, efficiency would be improved and delays significantly reduced. With modern features such as the new Boeing Sky Interior, on board wi-fi and entertainment, more baggage room in the cabin and cargo, Cayman Airways would be able to offer its passenger the best of Caymankindness.

The CAL officials said they hope to sell their 737-300 and have already had enquiries from airlines still using those planes, but the goal is to keep flying them until they are replaced and sold.

McLaughlin said this announcement was more good news to share with the public, reflecting that his government’s efforts and policies to stabilise the economy were working. Although overnight tourism continues its record-breaking growth, the premier noted the fierce competition in the industry. The Progressive government was, therefore, revitalising George Town and undertaking the airport expansion on the ground and it was now able to approve CAL’s plans in the air to help them stay competitive and bring in even more overnight visitors.

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Category: Local Business, Stay-over tourism, Tourism, Transport

Comments (60)

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  1. Anonymous says:

    I love the fact that KX will be leasing four brand new state of the art B738MAXs, to replace their current aging B733s. Along with the MWCR Expansion, KX, if they have any more money, to least two A320neos and a A321neo. Reason being to operate throughout Canada, Bermuda, Brazil Argentina, to name a few as seasonal or yearly round trips.

  2. Anonymous says:

    Great. But just sad that they use the civil servants increment cash. Oh well

  3. Anonymous says:

    Usual pie in the sky from the CAL board and management. It is ALWAYS going to come good once we add a certain route or get a new aircraft type. As for hugely expensive, state of the art 737s we have been down that road within recent memory. Guinness Peat Aviation anyone?

    The only business model that works is a couple high occupancy routes, the cheapest leases available on a few 737s and keeping the Govt subsidy as low as possible. That is the best we can hope for. The past 40 years demonstrates that.

  4. Concern Citizen says:

    1146hrs anonymous:

    I thank you for your response. I take your point in reference to the 737-max8. I am aware of the aircraft’s capabilities, I have personally work around thousand’s of airplane and know there capabilities for 15+ years and I am also aware of the other generation of the B737.

    But if you read my blog earlier I didn’t say to send tourist to other Island’s I said give local people a chance to visit other islands besides going into the bigger hubs to do their connections. I honestly would have not said to send tourist to other destination because that would have defeat our aim and purpose of our tourism product as our people here in Cayman has worked so hard to achieve.

    you also talked about Cayman being a hub, it has huge benefits in bringing needed revenues to the airline and country, in other wards landing fee, head taxes, airport taxes, jobs etc…. Who will foot the bill if the good fellas to the north no longer need services from Cayman airways to go to Cuba when they can fly straight there from cities like Miami. The local people will have to pay for the shortfall. It is in my opinion with the expenses for the new state of the art aircraft’s to travel away from Cayman would cost too much due to the unexpected revenue short fall. If you talk about saving’s on fuel that will be only temporary due to stock markets unpredictability on a daily basis, so forget fuel savings that’s not relevant I would prefer to save that additional money in my bank account. I think that if your talking about the dynamics of the aircraft yes it is a beautiful airplane but can we afford it in a possible economy down turn?

    I do agree again, as I said before I stand by the airline 100% in the fleet replacement strategy but the debt incurred will far out way the benefits. I also understand that high risk have to be taking in order to be successful to achieve the goal, but sometime the goal post keeps moving away until it is nonviable. Then the embarrassment of having to return the planes for a small and cheaper solution. Some risk needs to be avoided especially when you have the middle class in Cayman Islands under tremendous pressure trying to provide for their families.

    The airline is finally making a profit and is in the black, I think that they can be other routes created to sustain the airlines in the event of a short fall of revenue from the lost of the uplift to that destination, it is all about preparation in event that this happens. Creating other routes is also risky but it would cost a lot less to try a new route within our region which will intern enhance Cayman airways profitability in the long run by taking small risk, and sometime’s small risk can end up being the best decision ever made and the airlines and country benefits for the new destination’s. some of the benefits would be more jobs and fleet growth to accommodate to demand of those new destination’s.

    This is my position, I rest my case, I will save my finger tips and leave the decision with the experts at the CAL Team, management and political leaders of the Cayman Islands.

  5. Anonymous says:

    A new kind of bot has been detected.
    Its called the CALBot.
    It is misleading opinion on this site.

  6. Anonymous says:

    Most people don’t understand how Cayman Airways works. It is not a government subsidy, the government and DOT pay for increased airlift to areas where tourism is generated from. The basic routes like Miami, Jamaica, Tampa are always full and no doubt make money. If Cayman Airways was only flew for profit they would likely only run these routes.

    Government purchasing or paying for increased airlift to tourist home destinations means hundreds of millions in spend on island. This not only feeds our island and the precious hotel and condo clientele we survive from, it keeps prices down on most routes. Don’t believe me? try flying to other islands from Miami and the cost is double or triple.

    Want to know why Cayman has a better standing than most Caribbean islands? Because we guarantee airlift.

    Most other islands have to pay millions to American Airlines or other carriers to get them to fly there and they don’t have any control on price, frequency or origin of travelers. Cayman has all of these.

    Don’t bite the hand that feeds you.

    • Anonymous says:

      You mean Cayman controls price on the routes it does.

      How many tourists from Miami come here?
      How many tourists from Tampa come here?
      How many tourists from Montego Bay come here.
      How many tourists from Kingston come here.

      The answers are obvious.

    • Anonymous says:

      Oh now I understand it. Don’t tell everyone or all them other little islands going to get there own airline and copy our model.

  7. Concern Citizen says:

    Good day to all,

    In reference to all the rhetoric. I honestly believe that Cayman Airways needs an upgrade but not to that extreme. I also would like to say that I am 100 % in support of the idea that an upgrade is needed, but they are far less expensive options out there to choose from taking on high risk.

    Please review the choices that you made and do the math short time gain and longtime debt. Here are some of the aircraft’s that would be cheaper for our market as it stands in the Boeing 737 class; 737-700, 737-700 ER ,737-800, 737-800 ER ,737-900, 737-900 ER. (ER meaning Extended Range of Operation) smaller cargo bins.

    Please observe what is happening to the north and see the footprint in the long term not short term risk and expense. Pride and EGO is something that can be very misleading until it is too late to recant your decision which will intern cost the country more Debt. Mixed fleet is expensive but if utilized properly it would make a lot more money.

    Cayman Airways have great people with great minds but we are only thinking of people visiting the Cayman Islands what about people who is living in Cayman, ask them where should Cayman Airways fly next ?. One thought would be to purchase another SAAB 340 which I am aware that CAL will do but put a little more emphasis around region’s and destinations such as central America and the Caribbean Island hoping, Brazil, Panama, Belize, Columbia, Costa Rica, Bahamas, Turk And Caicos, Santo Domingo, BVI, Anguilla, Dominca, Barabdos St Marteen US virgin Islands. which CAL competitor American Airlines have the whole Caribbean at ransom at high fares , when will our CAL stand up for the Caribbean People?.

    One or two day’s out of the week you could do an islands hop such as, example Cayman via Santo Domingo via Puerto Rico via BVI Tortola via St. Marteen with the SAAB 340 until passenger’s load increase. I know it would take time for licenses to be granted but there is a market out there for these destinations from the people of the Cayman Islands.

    We are a demography in a unique place in the world which is in the Northwest Caribbean, we can be a HUB for the Caribbean and Central America ? Cayman has a good Tourism product but also have to be competitive. There is too many Islands unexplored by residence who would like to go and explorer direct from Cayman instead of going through Miami, or Jamaica and wait for hours on connecting flight’s throughout our region.
    Cayman depends heavy in tourism which our biggest product but what will happen when the unexplored Cuba really open’s? then you will have to rely on the people of Cayman to sustain to new incurred debt of these brand new airplanes.

    It would appear that the Caribbean will see a huge decline in visiting tourist to the their island’s, however Cuba may not have infrastructure but for how long? Big Investor’s of the world will be heading there to invest in the infrastructure and everything will be cheaper to stay there and money will go a long way there. Cayman would be too expensive in comparison to our neighbor’s which will have a lot more to offer the middle class citizens of the world.

    Do you think that you are sick of seeing for sale signs? you haven’t seen anything yet.

    • Anonymous says:

      1) None of the previous “Next Generation” airplanes before the 737- 8Max have the efficiency of the MAX. The MAX is at least 18-20% more efficient and oil won’t stay low forever.

      2) the profit started long before the oil bottoming out.

      3)Why would we want to hub passengers to other islands? We want them to come here not feed other islands tourism growth.

      4) Until you find out what the cost of the airlines are you can’t say that any of the 15+ year old models you mentioned are cheaper. They certainly aren’t more efficient. I have worked in the airline business before and my understanding through former colleagues is that Boeing is giving big incentives to airlines to take the new MAX as they fight Airbus. Chances are these are at least the same price as the older models or cheaper.

      • Diogenes says:

        It’s irrelevant if it’s 20% cheaper to run if you can’t afford to buy it. They cleared just over $3 m with owned aircraft. They want to lease 4 $110m aircraft. The capital repayment on the lease alone will massively outweigh the operating savings. It’s like saying you have $3k i free cash a year and think that means you can move into a $440k mortgaged house because you will pay a smaller CUC bill because it’s more energy efficient.

  8. Anonymous says:

    Profit of $3.4 million is due lower oil barrel costs. All airlines are saying same thing! Why bother to increase 30% more seats when They can not fill whole plane! In 12 years I flew 5 times with cayman airways and I never see more than half full plane. I mostly fly other airlines due cheaper ticket prices.

    • Anonymous says:

      To 10:43pm. If Cayman Airways operates an average of 5 flights daily that would mean a total of 21,840 flights over 12 years (based on 5flights x 7daysx 52 weeks x 12 years [5x7x52x12= 21,840] ). Since 5 flights out of 21,840 gives an average of 0.023%,it is insignificant as a sample size. Had you flown 5 times in 12 days your assessment might have been more meaningful.

    • Anonymous says:

      If you flew them more than 5 times you would have seen. I’ve flown many airlines and yes I can count the times I was on an entirely full flight. Ironically, my last flight from Miami to Cayman on CAL there was not an empty seat in the plane (including the “jump seat”! Stop being so negative all the time and try writing or saying one positive a day. You might be amazed how your whole outlook on life may change (for the better).

  9. Anonymous says:

    So where was the public tender for planes?
    As a Government owned & subsidized company a public tender should be issued & go through the CTC.

  10. Anonymous says:

    “delivered a profit of US$3.64M and for the first eight months of the current fiscal year ” is that before or after the 10 mil government subsidy?

  11. philip says:

    It would be very interesting to see the passenger numbers and excess baggage fees for the Cuba bound flights, i believe its general knowledge that the flights make up a good portion of revenue for KX , with Cuba opening up an more and more direct flights from Miami to Cuba one has to wonder if this is a big gamble.

    • Anonymous says:

      I’d like to see the Lesser Caymans data for the jet.
      Last time all the passengers to the Brac had a party. Both of us.

  12. Anonymous says:

    Smoke and mirrors. The fact is that CAL has been insolvent for years and only survived because of generous government handouts. The airline is a complete non-entity and anywhere else in the world its operations would have been downsized and rationalised years ago.

    Why would anyone bother to fly CAL? Even with their current rock-bottom fares as they try to fill seats it’s still cheaper for me to fly AA and they already have modern aircraft.

  13. FacePalmTree says:

    Cayman Airways…..More seats to fly the same amount of people (low density, but hey! more room to spread out)…..Turning a profit by not paying your accruing fees to other government entities (which I do understand, because it is all the same company, i.e. C.I. Govt), turning a profit by collecting a subsidy from C.I. Govt; turning a profit….Why don’t we re-brand it as Unicorn Airways? That’s just as realistic as Cayman Airways actually turning a profit….If the C.I. Govt has real foresight, we would shed the 2 turtles killing the govt coffers, Sir Turtle & Turtle Farm. With what is paid by central Govt (you & I really) in subsidies, we could “give” continuing pay for the Caymanian employees for 12 months after the closure, inclusive of re-education training for the “real world jobs”, and still be “on top” when it comes to money spent. And for those of you whom believe we will disappear from the tourism map without a national airline, go and ask Jamaica how they are doing with air arrivals after Air Jamaica was finally shut down because it was too expensive to maintain by a ever reducing income stream for central government. Oh, Hurricane evacuation you say? Yup, it’s called a Memorandum of Understanding with the airlines serving the country that they will ensure airlift up until 12 hours prior to storm conditions…(other Caribbean islands have this as well), and we have this every 22 years or so……Bye Bye Turtle, hello better bottom line.

    • Anonymous says:

      It’s funny how people chose to look at only the negative side of this and never pay attention to the positive side of it! Just a line from another site reference the same CAL news… ‘poising the airline to increase the $200 million economic contribution to the local economy annually’! Still think it’s not money well spent??? Oh let me guess you will still find something negative to say? Bye…!!!

      • Jotnar says:

        That $200 million contribution is based on assumed spend locally by passengers on the airline. However, it presupposes those passengers would not fly here if CAL did not exist. Now ask yourself, is a tourists decision to come here for a holiday dependent on a local airline? And thats before you get into how they calculate how much these “extra” tourists spend.

      • Anonymous says:

        And I’m poised to win the Florida Lotto on Saturday.
        Supply and demand. If there is more demand by closing the money waster the US airlines will add more flights. Just like in Jam land

    • Anonymous says:

      Ah but I hear the rum punch is good though!

  14. Tell Me Another says:

    “Despite years of government subsidies, CAL began to turn a profit”

    Ha ha. Hahahahaha. Haha. Ha.

    Funniest thing I have read in ages. Thank you CNS.

  15. Soldier Crab says:

    Those who fail to study history are condemned to repeat it.

  16. Anonymous says:

    Can we see some audited accounts that actually show a profit. Remember the HSA “profit”, these statements are divorced from reality based on figures from salaried in house “accountants” that are not even qualified in basic arithmetic.

  17. Anonymous says:

    Third world all the way while Kim gets fat the people starve Same as in Cayman as your leaders feast on filet your people eat bamboo chicken
    Everything about the management of Cayman is a joke

  18. H. Bodden says:

    Great news but I don’t understand how we can buy new planes buy need a charity drive for a new ambulance?

    Thank you for saying this……I have been hearing about the drive for a new ambulance and when I see articles about new airplanes but kids need food and we dont have enough ambulances it makes me sick.

    Also I too as a small business owner am going to adopt Cayman Airways accounting standards. Perhaps Mr. Tibbetts can explain how the rest of us out there how you account for that massive line item of 24 million dollars on the wrong side of the balance sheet? I have company loans and unfortunately they have to be accounted for.

    I think the tax payer in Cayman needs to see a audited set of financial reports from Cayman Airways before we get into another dangerous deal from Boeing(been done before and didnt work) In fact didnt we drive one of the new ones off the runway?

    In any event the old boys club up there in Cayman Airways is one of the last standing government companies with obvious free reign over lining their own pockets…..meanwhile people and the economy continue to decline.

    • Anonymous says:

      They will not be buying but leasing the aircraft. Secondly the “charity drive ‘ is not a Government initiative; it is being done by civil servants in their spare time as part of their civic pride.

  19. Jotnar says:

    These puppies are $110m a pop. How do we afford leasing 4 of them when CAL only makes a single digit millions bottom line at present, and that after treating government subsidies as revenue?

    I can appreciate that the operating costs on the latest technology may be smaller, but is the saving so great that it justifies the costs of leasing brand new aircraft, and state of the art ones at that? By comparison an A319 – like those now used by AA on the route – is more than $20m cheaper new, and a 737 -800 nearly $30m cheaper even if you bought it new, and the second hand price is going to drop with the introduction of the Max.

    I would quite like to buy a Tesla because the cost of running it using solar power is way cheaper than paying for as, but if I don’t have the cash to buy it…. Small airline with some very grand ideas, relying on the tax payer to pay for them and underwrite the risk.

    • Anonymous says:

      Tesla just announced a cheaper model…does the same thing as the others, runs on electricity…now you can have your cake and eat it too..

  20. Anonymous says:

    There will be criticisms, namely because the 737-8Max are likely to be in the range of US$110M a piece. However, CAL will be leasing the aircraft (industry standard) and modern financing structures will make this tenable. (Economies of scale, which may not necessarily work on ambulances – depends on the lender) The CAL fleet is well maintained, so selling (or leasing) the current fleet isn’t as unlikely as it sounds.

    The thing to focus on is having fantastic, brand new planes that not event the US carriers servicing Cayman can offer (their planes are equally woeful), and the prospects of new routes opening up. L.A.- here I come!

    The airline industry is an industry of small margins. This is a huge step resulting from patience and fiscal discipline (small fleets are difficult) and CAL should be commended.

    Now bring back the old rum punch!

    • Anonymous says:

      9:30 That reads just like a CAL press release and makes about as much sense.

    • Diogenes says:

      Go on Mr Industry Standard. How much do you think the annual payments are on $440 M of aircraft? And what is 20 % of CALS fuel bill? But let’s focus on having shiny new aircraft that bigger airlines don’t have, because that’s the important thing. I think yo have had too much of the punch already.

  21. Anonymous says:

    Kill the port project and gear up for more stay over visitors. Time to make the right decision PPM, put your balls, if you have any, on the bargaining table and put the money where it’s warranted. This can and will have a positive effect on the future of Cayman long after you’re gone.

  22. Anonymous says:

    This is the perfect time to sell.

  23. Not so fast says:

    I love Cayman Airways and will always fly them when possible. However this new plan maybe a bit too ambitious. Rather than figure out how to spend a small profit as quickly as possible, perhaps CAL can pay back the more than $100 million dollars in subsidies they received from CI Govt over the years! Also does anyone out there not remember when CAL had 727 and things were good & then suddenly took on fancy new 737-400s. This move drove CAL into the ground and if it was not for the CI Govt, they would not exist. The move to lease 737-400s was so bad they had to return them and get a much older 737-200 & 300’s. The airline actually had to downgrade the fleet. Now they want aircraft so new that almost no airlines are flying yet! Small step CAL….you are doing great right now….don’t drive yourself into huge debt again. Try moving back up to some low hours 737-400s before trying to get a fleet of Rolls Royces just cause you are making a little money. I am not a hater of CAL and I wouldn’t never like to see them shut down but please just continue to make slow and steady progress….that is how you win the race in the long term.

    • Anonymous says:

      This is incorrect… the decision to dump the 737-400s for the older 737-200s is what nearly drove the airline into the ground. The gulf war hurt business and lack of foresight by those in charge at the time made a panic move when business fell off and dumped aircraft that should still be flying for CAL.

      There is no chance they have bought these aircraft… these are $110 million sticker priced planes (even though they are sold at steep discounts)… these aircraft will be leased. They won’t be cheap to lease, but with the savings on fuel (at least 35% over the current aircraft, Mr. Whorms was misquoted as the MAX saves 15-20% fuel on the Next Generation 737s, KX currently flies the Classic, and NGs save 20% on the Classics), the massive reduction in maintenance and the extra revenue they will bring in, it will in theory more than make up for it.

      Moving to 737-400s now would be a lateral move these are just stretched and in most cases older versions of the 300s they have now (despite popular belief, only one of the KX aircraft can be classed as “old”, 3 are some of the final 737-300s built)… if you want to take a small step forward you go to 737-700 or 737-800s (which they are doing with the arrival of an 800 in a few months). I’m stunned the gov had the foresight and courage to make a move like this, after previously passing up on a few excellent deals to upgrade the fleet. Glad to see the gov finally recognizing a need and addressing it.

      My only negative thought on this plan is it may not be ambitious enough. 4 aircraft is not enough (unless they plan to cut back on some routes like Havana and the Brac, trim Miami etc.) as proposed routes to the West coast will see aircraft gone for up to 15 hours at a time… excellent utilization but will put a stretch on a 4 aircraft fleet if the current schedule is augmented by new long distance routes.

      Best news of all for everyone is… your bags will never be left behind again!

      • Anonymous says:

        Cayman Airways can never make a $$$$$ its purely about pride/ego
        Kind of like all those people living in Giant homes driving a Mercedes yet eating ramen noodles and sleeping on the floor

    • Anonymous says:

      Another aviation expert.

  24. Anonymous says:

    This is long overdue! My only worry is what will happen, or not happen, when a new Government come along next year.

  25. Anonymous says:

    Only two small problems with this. The first is they’ve got to keep the 737-300s flying into 2018-2020 or whenever the new 737s actually arrive. Remember how one of the 737-300s was grounded in the USA last year waiting for a part to be made and the delays bringing the SAAB into service? The second is that by 2018 Cuba is likely to be the major US tourist destination in the region so it won’t matter how many hotel rooms we have.

    And if anyone truly believes CAL made a profit last they’re smoking the wrong stuff. CAL only survives because it receives handouts from CIG. If it was a stand-alone commercial operation it would have folded years ago.

  26. Anonymous says:

    I would like to thank CAL for inspiring me to make my small business more profitable. I have now adopted CAL Accounting Standards and wow look at that bottom line grow. Amazing what you can do when you don’t account for your expenses, subsidies, debt repayments or fees owed to the Airport Authority. Following in CAL’s path I am going to replace my 10 year old Nissan with a new Ferrari given my new money making venture.

  27. Anonymous says:

    Why not Airbus? Has it even been considered?

    • Anonymous says:

      Might be because Boeing makes superior aircraft and the cost of shifting to a family of Airbus is going to be a lot higher than shifting to a newer version 737.

      • Anonymous says:

        American Airlines disagrees with you over which aircraft is better, but what would they know?

        • Anonymous says:

          American airlines operates 270 737-800s, with 34 more on order. Every airbus they have was brought in by the merger with USAir.

          And if you knew what you were talking about, you would find that AA chose the 737-8Max, with 100 on order, compared to 0 A320Neos.

  28. Anonymous says:

    what airline in the world would sell their existing craft and then replace them with leased aircraft??????
    cal has been an expensive joke from day 1…..time for government to get out of the airline business.

    • Anonymous says:

      Virtually every airline in the world lease aircraft.

    • Anonymous says:

      If CAL keeps the current aircraft then you would complain because the planes are too old

    • Anonymous says:

      10:54 The current fleet is literally one step ahead of the recyclers anyway so they’ve got to try something. The 787-8Max will run out at least US$500K a month to lease plus a down payment of US$3.5million per aircraft. They aren’t going to get that or anything like it from the sale of the 737-300s.

      • Anonymous says:

        Google is wonderful is it not? Let’s wait and see when the figures are released. I’m sure your numbers are way off

    • Anonymous says:

      Nobody buys aircraft anymore..The lifespan of new technology just like computers is short. It is far better to lease than than to buy aircraft.

  29. Anonymous says:

    Great news but I don’t understand how we can buy new planes buy need a charity drive for a new ambulance?

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