Deucalion acquires former Lufthansa 747 for teardown

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Deucalion Aviation Funds has acquired a Boeing 747-400 (MSN 23817) from Lufthansa. The 1988-vintage aircraft is equipped with General Electric CF6 engines.

The deal was financed purely through equity from the Deucalion Capital X Ltd fund, advised by DVB Bank. No senior debt was involved.

Similar to a previous 747-400 acquired by Deucalion Capital X from Lufthansa in January, the latest aircraft is also being inducted for teardown, says Stephan Sayre, managing director of DVB.

The airframe has been consigned to Universal Asset Management and the engines to TES Aviation, a company in which DVB holds a majority shareholding, he says.

"We've acquired a lot of teardown assets in the last 12 months; Boeing 747s, 767s and 757s, as well as Airbus A310s and A300s," Sayre adds.