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Press Release
FOR IMMEDIATE RELEASE
FOCUS ANNOUNCES SALE OF FINAL MD11 ON BEHALF OF CENTRAL AIR LEASING
Focus Aviation is pleased to announce the sale to UPS of an MD11 (MSN 48456) following redelivery off lease from VRG Linhas Aereas - VARIG. This is the final delivery from the portfolio of MD11 aircraft managed and remarketed by Focus on behalf of Central Air Leasing and brings to a close a project which commenced following the collapse of Swissair in October 2001.
In early 2002 Focus were appointed as overall portfolio managers by a syndicate of banks owning fifteen of Swissair’s MD11 aircraft. Focus placed eleven of these aircraft on leases of various terms with SWISS. Subsequently Focus identified, negotiated and completed further leases including eight aircraft to Varig, two to Air Namibia and one to Boeing.
Focus negotiated contracts with Boeing for the conversion to freighter of a number of aircraft. Focus then managed the conversion of four aircraft, two at Aeronovali in Italy and two at SASCO in Singapore, prior to their sale to Transmile in Malaysia.
The eleven remaining aircraft were all sold to UPS as a package but with deliveries aligned to lease returns over the period from February 2005 to July 2007.
During the work out process Focus also arranged and managed no fewer than fifty-nine aircraft deliveries/redeliveries, thirty engine heavy shop visits and nine “D” checks in three different locations.
The successful outcome of this project demonstrates the depth and breadth of Focus Aviation’s asset management capabilities and the benefits to our clients of the seamless application of our commercial and technical expertise.
In early 2002 Focus were appointed as overall portfolio managers by a syndicate of banks owning fifteen of Swissair’s MD11 aircraft. Focus placed eleven of these aircraft on leases of various terms with SWISS. Subsequently Focus identified, negotiated and completed further leases including eight aircraft to Varig, two to Air Namibia and one to Boeing.
Focus negotiated contracts with Boeing for the conversion to freighter of a number of aircraft. Focus then managed the conversion of four aircraft, two at Aeronovali in Italy and two at SASCO in Singapore, prior to their sale to Transmile in Malaysia.
The eleven remaining aircraft were all sold to UPS as a package but with deliveries aligned to lease returns over the period from February 2005 to July 2007.
During the work out process Focus also arranged and managed no fewer than fifty-nine aircraft deliveries/redeliveries, thirty engine heavy shop visits and nine “D” checks in three different locations.
The successful outcome of this project demonstrates the depth and breadth of Focus Aviation’s asset management capabilities and the benefits to our clients of the seamless application of our commercial and technical expertise.
Last modified: 17 Aug 2007