SIA won’t renew A380 lease
The question of a secondary market for the giant A380 Aibus jet took an interesting turn as Singapore Airlines (SIA) announced on 14 September it would not extend its lease for the first super jumbo it acquired when the lease expires next year.
"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 told reporters. "For the other four, decisions will be made later."
SIA currently has 19 A380s in its fleet and was the first to fly the plane in 2007.
The move is a blow for Airbus because many in the industry had been questioning the future of the world’s largest aircraft and also questioning whether a secondary market exists for the plane. Airbus cut the A380 production in July, but has consistently said it is confident about the future of the plane.
"We do not comment on the fleet plans of individual airlines. We are confident in the market for second-hand A380s, which can be leased or acquired at attractive rates. This will offer a great opportunity for new entrants with new business models to start operating the A380," Airbus said in a statement.
SIA currently has five additional A380s on firm order with Airbus and deliveries will start in the second half of 2017.