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15/12/2020

What Are the Current Utilisation Levels for the 777 Family and Predicted Attrition?

As you will be aware, the withdrawal of passenger capacity from the market has driven extraordinary demand for dedicated freighters. Some passenger aircraft have been temporarily converted and freight movements have strengthened. Using flight data from IBA’s Intelligence platform InsightIQ, we can illustrate the utilisation of the 777 Boeing Family. 

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This clearly demonstrates the stark divergence between 777 passenger and freighter fleets despite the temporary conversions for preighter activity.

 

 

 

Prior to the pandemic and throughout this year, the 777F shows strong levels of utilisation across domestic and international routes. In contrast, the picture for the 777-300ER has been more challenging as continuing passenger travel restrictions impact international travel, on top of some pre-Covid softening of values, fewer trades and rising part out demand. Analysis from InsightIQ has identified 125 777-300ER aircraft for possible fleet exits in the near term.

 

However on the positive side, if the 777X programme is delayed then some airlines could operate their 777-300ER fleet for longer than originally planned. Returning aircraft could fill short-term demand gaps as airlines avoid buying new widebodies until current conditions settle, plus provide engine feedstock to maintain the operational aircraft for longer periods and avoid expensive engine maintenance. In addition, the Boeing conversion programme for the 777-300ER launched just over a year ago and there will be a good supply of feedstock. The cost for this conversion is expected to be in the region of US$30 million excluding maintenance.

 

If you have any further questions please get in touch: Mike Yeomans

 

IBA’s InsightIQ analysis platform flexibly illustrates multiple asset, fleet and market positions, actual and potential, to inform client choices and identify acquisition opportunities. Immediate access to crucial aircraft, engine, lease rate and fleet data eases appreciation of historic and future aircraft concentrations and operator profiles.

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