International Lease Finance Corp is likely to cancel its orders for 10 Airbus A380s this year, a well-placed market source says.
The move has long been anticipated.
A launch customer for the giant aircraft, delays in the programme allowed ILFC to cancel the airplane. Instead, former CEO Steven Udvar-Hazy deferred delivery dates.
Now, ILFC has been straightening out its finances and is prepared to order new airplanes again-it has just 115 on order, 74 of which are Boeing 787s-and it needs new feedstock. It's widely anticipated the A380 orders, a difficult asset for leasing, will be replaced by the A320 family, including the neo, and possibly more A350s.