Market Presence. The change in perceptions held by Master Appraisers with regard to the B777-300ER changed perhaps a year or eighteen months ago. Airframe manufacturers inevitably cling to past success rather than acknowledging prevailing and future risks when considering the fortunes of their own used aircraft types. There is little doubt that the number of B777-300ERs on the market is limited. With some 815 delivered over the course of some 14 years, it would be expected that some 20-30 should be on the market today but there are less than ten. However, of the 815 delivered less than 80 are older than 10 years of age making it less likely that any would be coming to the used market. Yet transactions are taking place; Alitalia and Pakistan are due to receive ex-Air Austral aircraft from Aercap and Macquarie AirFinance. These aircraft were only delivered in 2009 indicating a relatively short lease term of some eight years compared to the current ten years or longer. Emirates has a very large number and is already divesting aircraft. In view of the potential for a sustained slowdown in growth, then more -300ERs may be released onto the market rather than A380s. Five ex Emirates -300ERs delivered in 2006 are due to be leased to Rossiya by Aercap. There have been few other movements.
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