Boeing has concluded innovative compensation deals with All Nippon Airways and Japan Airlines to supply new 767-300ERs as bridging capacity for their delayed 787 deliveries, but the structure of the acquisitions is yet to be finalised.
Last month, the two airlines each announced deals with Boeing for nine 767-300ERs, for delivery from 2010. Both carriers should have taken their first 787s this year, but the programme's ongoing production delays have pushed deliveries of the new twinjet back until the second half of next year at the earliest.
According to industry sources, the 767s are being provided to the Japanese 787 launch customers as a compensation/bridging settlement. The airframer has confirmed the ANA deal but not the JAL order, although it has recently added nine 767s to its backlog against an undisclosed customer - which is believed to be JAL.
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It is understood that various acquisition scenarios are being examined for the 767s and that the price/lease rentals are likely to be subject to significant discounts. Sources say that there is no immediate rush to decide on the method, particularly given the current uncertainty over the 787's schedule.
JAL has not yet decided whether it will lease or purchase the 767s, and says it expects to finalise this around the time of delivery. ANA says that "for the present moment, we decided buying is the best thing going ahead, but if necessary we will make a different decision [and lease] if we need to".
According to industry sources, initial aircraft are likely to be delivered on operating lease and involve the airframer's finance arm Boeing Capital with terms in the six-to-eight-year region. However, Boeing Capital's managing director capital finance Kostya Zolutusky says that the division "at this stage neither has, nor sees, any commitment to finance 767s". He declines to comment on the "terms of sales" to customers affected by the 787 delay.
The deals give a boost to the 767 orderbook, in the wake of the failed KC-767 bid in round one of the US tanker competition. The current backlog is 46 aircraft (33 freighters and 12 passenger models - including nine of the 18 new orders) and this year's output, before the current Boeing machinists' strike, has averaged one aircraft a month. Earlier this year, the airframer indicated that a rate increase was being examined, presumably in anticipation of the ANA and JAL deals.
Source: Flight International
