Here is the confirmation.
EAAC to launch widebody charters with ex-BA 747s
UK airline charter company European Aviation Air Charter (EAAC) has purchased five Boeing 747-200 aircraft from British Airways, a move which marks the company’s debut into widebody operations.
The acquisition is a radical departure for Bournemouth-based EAAC, which currently manages a fleet of eight Boeing 737-200Adv, three 737-200QCs and three BAC One-Eleven 500s – although the latter are scheduled to be retired by the end of March 2002.
EAAC has not firmly decided where the Rolls-Royce RB211-powered 747-200s will be based, although it is considering Manchester and London Stansted as possible options. Delivery of the first aircraft is anticipated early next year; the company is assuming an in-service date of 20 January.
It has not disclosed the sum which it is paying for the five aircraft. British Airways says that the deal does not amount to new cash for the flag-carrier, saying that it had already accounted for the income from the asset sale in its November interim results.
Australian-born entrepreneur and EAAC chairman Paul Stoddart, who took over the Italian Minardi Formula One motor racing team at the beginning of this year, says that the 747 purchase will allow the company to enter new markets – as well as allow to conduct long-haul operations in connection with the 2002 motor racing season. European Aviation Group has previously offered short-haul flights as part of its racing sponsorship packages.
EAAC will keep one of the 747s on standby as a spare and use the remaining four for lease or ad hoc operations. The company claims that it is receiving more enquiries about widebody operations now than for its narrowbody fleet.
“We realise that some people may question the wisdom of making a commercial commitment of this type at a time when there is a great deal of nervousness surrounding the aviation business,” says Stoddart.
“But we have never followed so-called ‘trends’ – preferring instead to do our own evaluation and strike deals when we believe it right for the European Aviation group of companies. We firmly believe that the global aviation business has a healthy future in the longer term, simply because people will continue to have a requirement to travel.
“Our company’s collective experience has taught us how to run a very efficient airline that boasts some of the lowest operating costs in Europe – we will now apply this knowledge to operating the European Aviation 747 fleet. As a result, I am certain this will turn out to be a highly-successful acquisition.”