“The impact that it had…is that the existing technologies [aircraft] that were expected to be phased out by airlines are being extended,” he said.“In a way, they’re extending their lives with existing operators.
Today, it’s very difficult to get a hold of an [Airbus] A320 current technology or Boeing 737 NG [an older version of the 737] because airlines need to fill up that gap following the grounding, at least on an interim basis,” he added.Similarly, another Novus managing director, Mounir Kuzbari, said that many lessors’ are “benefitting from the situation.”
“Airlines that rely on the MAX 8, especially entering the summer peak season, will face a bit of disruption because it’s a bit short notice to be able to find capacity given market demands,” he said. “We’re probably going to see lease rate and value uptick on existing technologies in the short-term, whether it’s the 737 NG or A320 family.”
Work closely with Boeing
Additionally, at the Farnborough International Airshow in July, Novus announced its first direct agreement for four Boeing 777-300ERs, a $1.4 billion commitment.The grounding of the 737 MAX, however, has had a limited impact on the firm, which currently does not have any of the aircraft in its portfolio.
“But, we have a number of aircraft in the pipeline in different stages of discussion,” Mounir Kuzbari added. “Some are actually mandated, so have been a bit delayed, naturally.”Kuzbari added that Novus is “very confident that Boeing will find solutions and fix the challenges they’ve had.”
“The obvious concern is delayed. Getting a number of civil aviation authorities on board are obviously going to take some time,” he said. “But long-term, this programme should get back on track."Civil aviation regulators around the world have so far failed to make a determination on when the 737 MAX can return to the skies.
"The only timetable is to make sure the aircraft is safe to fly," Daniel Elwell, acting head of the US Federal Aviation Administration, said last week.
Source: Arabian Business