What do we know?
All the accounted for 25+ customers are highlighted above. In addition, there were two tails that were not immediately recognized and unaccounted for in the official tally as identified customers. One is listed as BPA with a blue tail and the other as LOM with an unidentified logo. Let's take a closer look at that logo.
And now this:
Based on the latest news from RBS, combined with its apparent status as one of the unidentified customers, the cancellation appears to have originated from lessor The Royal Bank of Scotland.
- Right now the 787 program has 861 firm orders from 56 customers.
- At its peak at the end of last year, Boeing held 910 orders from 59 customers.
- At the time of roll out (July 8, 2007), Boeing listed 49 customers on the side of ZA001.
- According to Bloomberg:
The 25-jet deal was dropped April 30 and had been part of a group of 42 orders from unidentified customers that now number 17 after today's weekly Web site update, said Jim Proulx, a Boeing spokesman. He declined to give further details.
- 11 identified customers hold orders for 25 or more 787s. All of the following are accounted for in Boeing overall 861 order tally on its website:
Air Berlin, Air Canada, Air India, ANA, Continental, Etihad, ILFC, JAL, LAN, QANTAS and Qatar.
- On July 28, 2006 - Boeing received an order for 2 787-8s from an Unidentified Customer. That order is now removed from the official count.
- On January 14, 2008 - Boeing received an order for 23 787-8s from an Unidentified Customer. That order is now removed from the official count.
- The customer in question was likely listed on the side of ZA001 at the time of roll out. Let's take a look at those tails:
All the accounted for 25+ customers are highlighted above. In addition, there were two tails that were not immediately recognized and unaccounted for in the official tally as identified customers. One is listed as BPA with a blue tail and the other as LOM with an unidentified logo. Let's take a closer look at that logo.And now this:
CNN.com - May 8, 2009 - RBS announces $1.29B first-quarter lossI'm told BPA is Blue Panorama Aviation with 4 orders, ruling them out of the speculation.
Based on the latest news from RBS, combined with its apparent status as one of the unidentified customers, the cancellation appears to have originated from lessor The Royal Bank of Scotland.
on May 8, 2009 12:54 PM | Reply
lol this is some great detective work!
on May 8, 2009 2:53 PM | Reply
Jon you are definitely the sleuth of the month.
on May 8, 2009 5:15 PM | Reply
LOM = Lombard Asset Finance - part of the RBS group (now effectively nationalised!)
on May 8, 2009 5:42 PM | Reply
I guess this explains why ZA001 has had all the tails removed in its latest trip to the paint hangar.
on May 8, 2009 5:49 PM | Reply
According to the telegraph, RBS already sold their aircraft leasing business back in Feb.
http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/4550872/Royal-Bank-of-Scotland-to-sell-aircraft-leasing-business.html
on May 8, 2009 6:03 PM | Reply
I noted the comments about the two unidentified customer orders. One you said was placed for 2 a/c on July 28, 2006 and the second for 23 a/c was placed 14 January 2008. You said the photos were from the original rollout, which was 23 Jul 2007. How therefore can the RBS order be on the rollout paintjob if the order was placed some six months later. If you have a solution to this I would be intrigued.
on May 8, 2009 8:27 PM | Reply
The aircraft leasing division of Bank of Scotland is based in Dublin as far as I know. Quite a few aircraft lessors are based here in Ireland for tax reasons, hence the ''EI-***'' reg numbers on some aircraft belonging to Aeroflot, Alitalia, etc
on May 9, 2009 12:11 AM | Reply
The RBS leasing unit has not been sold. It is to be sold. Ain't done yet.
on May 9, 2009 3:03 AM | Reply
Jon,
In the comment indicated by the link below, I suggested that many orders from lessors were in limbo.
http://www.flightglobal.com/blogs/flightblogger/2009/03/ilfc-in-trouble-some-perspecti.html#comment-1487158
The 25 canceled 787 orders is just one case. There will be other cancellations by lessors concerning other aircraft types too.
The reality is that aircraft financing by "Securitization" becomes more and more difficult. Investors are wary to put their money in aircraft asset backed security when airlines are losing money.
But there is not need to worry, good news will come back again in 2011.
on May 9, 2009 6:32 AM | Reply
WOW! Excellent sleuthing job Jon! I think all of us were wondering who was responsible for this cancelation. Thanks for your work. Thomas