Singapore Airlines not extending first A380 lease
The first Singapore Airlines A380, and the first-ever A380 delivered to an airline, will be returned to its owner, German investment fund Dr. Peters Group, in October 2017.
September 16, 2016
By PLA Editor
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Singapore Airlines (SIA), which has 19 A380s in its fleet, has decided not to extend the lease contract for its first A380 which was the first of five A380s delivered from 2007. Decisions about keeping them – which are on 10-year leases – are due between this month—for the initial aircraft—and April 2017. The first Singapore Airlines A380, and the first-ever A380 delivered to an airline, will be returned to its owner, German investment fund Dr. Peters Group, in October 2017.
The decision will be a blow to the manufacturer as it seeks to bolster new sales of the world’s largest passenger aircraft. Airbus cut the jet’s production in July, but said it remained optimistic about its long-term prospects.
“Our first five A380s are on a 10-year lease, with options to extend. The first one will expire in October next year, and we have decided not to extend it,” a SIA spokesman said.”For the other four, decisions will be made later.”
“We have five other A380s on firm order with Airbus and deliveries will start in the second half of 2017,” the spokesman added.