LONDON – EuroAtlantic Airways (YU) has announced it will be selling its only Boeing 777-200ER in its fleet. Skytech-AIC has been appointed to market the sale to other companies globally.
CS-TFM (L.N. 144/MSN 28513) is the aircraft in question, offering 326 seats in a two-class configuration, offering 24 seats in Business and 302 in Economy.
The Rolls-Royce powered aircraft was delivered to Singapore Airlines (SQ) back in June 1998 as 9V-SRA and stayed with the carrier until January 2010 when it was handed over to YU.
As YU is an ACMI and wet-leasing carrier, the aircraft began its leasing journey upon its delivery. The first airline to officially receive this aircraft on a lease was Biman Bangladesh Airlines which was ferried between Lisbon (LIS) to Dhaka (DAC).
The aircraft then entered service in February 2010 operating the DAC-London Heathrow (LHR). Around a year later, the frame was returned to YU bound for its next customer, Air Madagascar (MD).
Again, this was a short-term lease, with the aircraft being returned six months after it was delivered. The aircraft remained with YU for a further three years before heading over to Med-View Airline (VL) in August 2015.
Initially, a two-month lease was approved between August 2015-October 2015 before being returned to VL in August 2016 for another lease of two months. Then, in September 2017, the aircraft went back to VL from YU for a period of five months before remaining with EuroAtlantic to this day.
No More Leasing?
With Skytech marketing this as a full-sale, it means that YU is now requiring more funding into the carrier. This sale does make a lot of sense given the current climate.
At the time of writing, the age of CS-TFM is 22.4 years old, according to data from Planespotters.net. With the aircraft not under lease at an airline at all for the last two years, this is also a contributing factor to its sale.
This is also because three of its six younger Boeing 767-300 are being leased, with the others being stored due to the ongoing COVID-19 pandemic. The same situation also applies to its Boeing 737-800 in the fleet as well, which is currently on lease but is being stored.
In a volatile time like this, airlines need to remain afloat, and that even applies for YU. With demand flatlining at the moment, the airline needs to find ways of securing funding during this time.
In the eyes of EuroAtlantic Airways, the sale of this aircraft is vital in order to secure some level of revenue during a very difficult time. If it can secure this, then it can put its Boeing 767 more to work on the long-haul leasing operations and make its money that way.
It will be interesting to see how the carrier performs over the next six months and whether indeed it can make that very important sale.
Featured Image: EuroAtlantic Boeing 777-200. Photo Credit: Wikimedia Commons