The mandate secured against tough competition from many other leading third party aircraft remarketing organisations, covers three B777-200ER aircraft manufactured in 1997, each powered by two P&W 4090 engines. The aircraft, which are operating on the Egyptair network, have serial numbers 28423, 28424 and 28425 and are currently configured in a three class layout.

This B777 remarketing mandate adds additional aircraft to an existing three A340 aircraft mandate that DVB’s Aviation Asset Management team was successful in winning in August from the airline and reinforces the relationship between DVB and Egyptair. It also follows other recent successes for DVB's Aviation Asset Management business which include a remarketing contract for five new Embraer E190 aircraft on behalf of the M1 Group, four of which have already been placed and the technical management for delivery of two B747-400F freighter aircraft to US carrier UPS on behalf of the Luxembourg based freight airline Cargolux.

Commenting on this most recent transaction, Jon Skirrow, Managing Director DVB Aviation Asset Management said: “This mandate comes towards the end of another successful year for DVB Aviation Asset Management’s third party business. We now have a fleet of 62 aircraft that we either manage or are remarketing on behalf of third party clients. The aircraft fleet we currently manage is diverse and includes regional, narrow-body and wide-body equipment which are operating in all of the major markets in the world”.

“Securing this B777-200ER remarketing mandate and successfully placing the E190 aircraft in what are tough market conditions, is further testament to the reputation of the DVB Aviation Asset Management business and demonstrates our ability to deliver both results and added value to our clients through a wide range of aircraft related services. Despite the challenging aviation environment modern efficient aircraft such as the B777-200ER are still in demand and actually the availability of these three sister-ships offers a unique opportunity for airlines to upgrade some of the aging wide-body fleets with state-of–the-art equipment. We now look forward to building on the recent successes we have enjoyed both with our existing client base and by developing partnerships with new clients around the world so that we can, as part of DVB's aviation platform, reinforce our position as one of the world's leading aircraft remarketing and lease management operations.”

(c) Centre for Asia Pacific Aviation. Date posted: 06-Nov-09