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https://onemileatatime.com/airbus-a380-scrapped/It’s Happening: the First A380s Are Being Demolished
The latest poke in the eye for the aircraft is coming from very close to its hometown of Toulouse, France:
two A380s are being scrapped for parts after being parked for months at the Lourdes – Tarbes airport.
Earlier this summer 2018 the Dr. Peters group,
an investment firm based in Germany,
announced it would be sending two of the nine A380s it owns to be dismantled for parts.
That work began in earnest in early December 2018, according to German aviation news site Aero Telegraph.
https://www.aerotelegraph.com/jetzt-wer ... 80-zerlegtTwo Airbus A380s Are Being Scrapped
January 2, 2019
What’s crazy is that the plane is only just over a decade old,
and the first ones are already being retired.
In September 2016 we learned that Singapore Airlines planned on returning their first A380 to their leasing company in late 2017.
Then in May 2017 we learned that the airline will actually be retiring all five of their first A380s, as those lease expires.
In fairness, Singapore Airlines had five more A380s on order,
so the airline is essentially maintaining a consistent fleet,
as they retire five planes and also take delivery of five planes.
So, what has happened with those five A380s so far?
While this has been discussed for quite a while, it’s finally happening.
Two Airbus A380s — both of which flew for Singapore Airlines —
are in the process of being scrapped for parts.
There are four A380s parked at Tarbes–Lourdes–Pyrénées Airport in France,
and two of these have been in the process of being scrapped since December 2, 2018.
The process of dismantling these planes takes a surprising amount of time.
Perhaps the shocking part is the financial result of all of this.
Dr. Peters is the aircraft leasing company that owns these planes,
so you’d think they’d be bummed,
and that they’ve taken a big loss on these planes,
having only leased the planes to one airline for a decade.
But nope, they’re expecting that when all is said and done,
they’ll see a return on their investment of 145-155%.
The CEO of Dr. Peters has even said that scrapping the plane for parts will
“satisfy and possibly even exceed the current expectations of investors.”
Apparently the 10 year lease of these planes covered somewhere around 72-81% of their obligations.
On top of that they expect to get $45 million for the parts of the planes,
plus the money they’re making from leasing out the engines.
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