Operating lessor Aircastle expects eight out of 16 aircraft lease expiries, scheduled for this year, will result in part-out sales.
"We expect half of these aircraft, mostly older [Boeing] 767, 757, and 737 Classics, will be addressed by part-out sales, since we view this to be the most capital-efficient approach," said Ron Wainshal, Aircastle's chief executive officer, during a first quarter earnings call.
The lessor has one freighter aircraft coming off lease, an Airbus A310, which it expects to part-out for a "modest profit".
Of the remaining aircraft left to place, five units are "in-demand 737-800s" coming off lease later in the year, says Wainshal.
The lease expiries represent "less than 5%" of the lessor's total fleet net book value, he says.
At the end of the first quarter, Aircastle owned 158 aircraft with an annualised lease rental run rate, including finance leases, of $644 million, of which $293 million was associated with 72 unencumbered aircraft with a net book value of approximately $2.1 billion.