Bombardier reached a low point in asset management last January when it realized it had 107 parked 50-seat CRJs, VP-Asset Management Rod Sheridan said at the 13th annual Valuation Conference organized by Commercial Aviation Media in Washington this week.
"Not too many people, especially in the US, want to take on 50-seaters," he said. The aircraft that had been returned by Delta Air Lines, Northwest Airlines and Air Littoral represented nearly 10% of the 50-seat CRJ fleet. But the market is looking brighter nine months later, with all but 25 of the parked aircraft placed with new operators. Sheridan said the two hottest remarketing opportunities are with startups and carriers in developing countries outside of North America and Europe.
Lease rates for used CRJ200s are in the $85,000-$90,000-per-month range, according to Avitas VP-Asset Valuation Doug Kelly. But older CRJ100s have "a much different value." Some of those that have not been placed have been "parted out" for approximately $3 million. In addition, Bombardier is retrofitting some of the CRJs for business or shuttle applications. It also is developing a cargo modification expected to be certified in the first quarter of 2007.
Embraer, too, is looking at ways to remarket its ERJ-145s as customers have gravitated to the 170/190 family. Currently, only two 145s have been returned. "The values have been holding up," said Regional Manager-Asset Management Luciano Flores. "We've placed them at attractive lease rates." Monthly rates for an ERJ-145 are in the $85,000-$100,000 range, Kelly said, adding, "The benefit is they don't have many on the market".
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Originally Posted by cancidas
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