Andrew Doyle/MUNICH
LTU is acquiring a mix of 25 Airbus A320s, A321s and A330-200s to replace its large Boeing 757/767 fleet under efforts to cut costs and restore the airline's flagging financial fortunes (Flight International, 21-27 March). The restructuring will leave the German charter carrier with an all-Airbus fleet by the end of 2003.
The airline has placed firm orders with Airbus for six A320s and will take an additional 12 A320/A321s and seven A330-200s from several lessors. Six A330-200s will be taken on 10 year leases from International Lease Finance (ILFC) between November 2001 and mid-2002. Other lease deals are expected to be concluded with GE Capital Aviation Services, and GATX Flightlease.
Flightlease is a wholly-owned subsidiary of SAirGroup of Switzerland, which holds 49.9% of LTU, and has taken over responsibility for managing the LTU fleet.
The first CFM International CFM56-powered, 174-seat A320 has already been put into service on lease from ILFC. In LTU's single-class configuration, the A321s will seat 212 passengers. The narrowbodies are being deployed on routes from Germany to the Canary Islands, the Mediterranean and the Middle East.
LTU owns two of its seven A330-300s, and ILFC has agreed to buy back one of these aircraft and four 767-300ERs. The leased 767s and five A330-300s will be phased out as the seven longer-range A330-200s arrive, allowing the airline to achieve its stated goal of reducing its overall fleet size by 10 aircraft to 27.
The A330-200s will seat 325 passengers in two class layout, and serve destinations in North America, the Caribbean, Africa and Asia. They will be powered by the Pratt & Whitney PW4000, as are its existing -300s, according to LTU.
The company wants to sell and lease back its remaining owned aircraft, and has been studying the possibility of forming a joint LTU/ILFC/Flightlease leasing company. It has already sold 11 of its 15 757-200s to UniCapital of the USA and leased them back. The carrier's six wet-leased 737-700s will be returned to Germania in October.
Source: Flight International
