A few mistakes here ... a new 747-400 goes for an eye-popping US$250m (see Boeing's website); and the BAC1-11s have all been retired from EAC. Anyone spot any other errors? <img src="rolleyes.gif" border="0">
[quote]F1 boss buys BA jumbos on the cheap
DOMINIC O’CONNELL
PAUL STODDART, owner of the Minardi Formula One racing team, has bought five Boeing 747s from British Airways.
While the price of the deal has not been disclosed, it is understood Stoddart paid a total of just $5m (£3.5m) for the aircraft, which were retired by BA as part of plans to cut capacity.
One of the aircraft will be used to fly Minardi personnel — as well as journalists and sponsors — around the grand prix circuit. One is to be broken up for spares. The other three will be used for charter work. They will be operated by European Aviation, Minardi’s sister company, which runs a fleet of charter aircraft.
The price paid by Stoddart has raised eyebrows in the airline community. Although the aircraft are between 22 and 24 years old, they are regarded as well-maintained, and have been among the mainstays of BA’s long-haul fleet. The sticker price for a brand new 747 is about $150m.
European Aviation could not be reached for comment on the use of the aircraft, but aviation industry sources said that one would be based in Manchester working for Club Travel 2000, the cheap-flights specialist.
Two others will be used for ad-hoc charter work, including troop and cargo flights for the Ministry of Defence.
Stoddart made his start in aviation in Britain in 1993 with a similar deal when he bought BA’s fleet of BAC 1-11 aircraft — many of which are still flying for his company. <hr></blockquote>