The-Big-Stuff-Airbus.Pdf
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Francois Chazelle, Airbus Corporate Jets The big stuff: the investment value of bizliners February 2014 ACJs are only in the top end of the market Size Value ACJs are derived from the most modern airliner family A320 Family A330/A340/A350 Family A380 Family A321 ACJ321 A340 ACJ340 A320 ACJ320 A350 ACJ350 A380 ACJ380 A319 ACJ319 A330 ACJ330 A318 ACJ318 ... and benefiting from the experience of over 7,000 Airbus delivered A unique market positioning 100 BBJ2 90 ACJ320 BBJ1 ACJ319 80 Glob. 8000 70 G650 ACJ318 Glob. 7000 60 G550 Price Price (M$) Lineage Glob. 6000 50 7X G500 40 Glob. 5000 G450 30 20 0 50 100 150 200 250 Cabin Volume (m3) Bizliners offers a unique upgrade and/or alternative solution Based on public prices and volumes. Including cabin ACJ customers A well balanced customer base ACJ Charter operators 24 VIP charter aircraft with 15 operators NB: excludes all ACJs operated by governments, airlines or private owners without the support of a management company Emirates Executive Airbus ACJ319 is… …1st bizjet with mini-suites November 2013 ACJ Management companies 15 management companies operating private ACJs NB: excludes all ACJs operated by governments, airlines or private owners without the support of a management company ACJ customers are less volatile Bloomberg data Airlines vs. Corporate Jet customers 100 Grouped average stock values 90 80 Selection of large FTSE 100 70 companies owning Large business jets 60 50 Selection of top 40 airline customers with Airbus aircraft 30 Indexed avg. Share price % 20 10 0 Dec-04Feb-05Apr-05Jun-05Aug-05Oct-05Dec-05Feb-06Apr-06Jun-06Aug-06Oct-06Dec-06Feb-07Apr-07Jun-07Aug-07Oct-07Dec-07Feb-08Apr-08Jun-08Aug-08Oct-08Dec-08Feb-09Apr-09Jun-09Aug-09 AVG Airlines AVG CJ Customers Corporate Jet customers are less sensitive to changes in the economy Bizliner customers are a class above Operators and owners of Bizliners have a higher net worth and are less sensitive to fluctuating economic conditions and shareholder pressure Ultra High Net Worth Individuals and governments therefore make independent decisions This means Bizliner customers present a better credit risk Overview of the Airbus Corporate Jet Family ACJ318 14-19 passengers 4,200 nm ACJ319 19-30 passengers 6,000 nm ACJ320 19-50 passengers 4,300 nm 8 pax and NBAA rules, Range shown without sharklets Same wide cabin, three different lengths Boeing BBJBoeing Gulfstream G650 Gulfstream Embraer Lineage Embraer 31.44 m/103 ft 2 in Airbus ACJ Family ACJ Airbus Gulfstream G450/G550 Gulfstream Bombardier Global 6000Global Bombardier ACJ318 33.84 m/111 ft 0 in ACJ319 2.40 m/7 ft 10 in Longer than ACJ318 37.57 m/123 ft 3 in ACJ320 3.73 m/12 ft 3 in Longer than ACJ319 Travel in the widest, tallest cabin in the market ACJ Family market split ACJ318 22 ACJ319 78 Thanks to their versatility the ACJ318 and ACJ319 are the most popular models Net orders as of December 2013 ACJ Family range around London London Moscow New York Tokyo Los Angeles Dubai Honolulu Luanda ACJ318 ACJ320 Rio De Janeiro ACJ319 8 pax 85% max headwinds 200nm diversion NBAA IFR reserves Rich & exclusive specifications Airframe structural reinforcements Installation of a specific (*) Fuel System (*) Installation of a specific Cargo Loading System (CLS) for ACTs Airstairs (*) 41,000 ft altitude ceiling (*) ETOPS 180 min Installation of forward heated floor panels Highest thrust engines Installation of 4 additional centre tanks (ACTs) (*) Structural provisions for SATCOM Aero I/H+ Design weights increased (capability up to 6) Emergency Locator Transmitter supply and installation (e.g. MTOW from 64t up to 76.5t) Dual HF system supply and installation (*) Exclusive to ACJ319 and not retrofitable ACJ318 optimized layout Elite+ layout 19 passengers Galley Entourage area Lounge area Private office Crew rest Option Double bed option Dining area Guest lavatory Washroom (option) Standardized layout with pre-engineered selectable options Layout shown may include potions ACJ318 is offered as a turnkey package Aircraft and outfitting sold as a turnkey package by Airbus Includes Lufthansa Technik installation of Elite+ cabin outfitting under Airbus supervision, for which Airbus has an exclusive Transfer Of Title of green aircraft prior outfitting, allowing creation of a mortgage (or other liens) on the aircraft for financing purposes Unmatchable pricing point for a unique entry level product * Bizjet is a Lufthansa Technik subsidiary ACJ319 Exclusive cabin concept has widespread appeal Comfortable and practical layout Saves customer time and effort On display in Airbus mockup centre in Toulouse Certificated for public transport Exclusive cabin concept is widespread ACJs (<20 pax layout) delivered since lauch of the Airbus cabin concept Dec. 2004 Exclusive cabin concept is highly flexible Same cabin layout & structure Multitude of choice for fixtures & fittings Easy to refurbish at less than 10% of the cost for a new cabin A worldwide range of Airbus approved cabin outfitters Woensdrecht Hamburg Basle Dallas Indianapolis Toulouse San Antonio Xiamen ACJs continue to improve as a member of the A320 family Maintenance Extended Service Sharklets Engine improvements RNP 0.1 programme Goal ROPS Carbon fiber brakes as std 2007 2008 2009 2010 2011 2012 HUD Aerodynamic GPS Landing 78t A320 EFB OANS improvements system 300 million Euros are invested every year to maintain Airbus leadership HUD: Head Up Display RNP: Required Navigation Performance ROPS: Runway Overrun Protection System OANS: On-board Airport Navigation system ROW/ROPS being offered as safety enhancement Runway overrun warning (ROW) Runway overrun prevention (ROP) Enables timely go-around Maximises stopping ability Sharklets design Tip-Cap • Single piece design • Innovative materials CFRP panels with full- depth cores • Manufactured by KAL AL diverter strips Strobe CFRP laminated spars light Navigation CFRP panels with light Honeycomb cores (Upper and lower panels) Rib-27A Provisions standard from Q1 2013 Line fit from Q1 2014 1st ACJ319 with Sharklets was delivered in October 2013 Worldwide support 99.9% Operational reliability 5 Airbus Training centres (Toulouse, Miami, Hamburg, Beijing and Bangalore) 19 Training centres with CAE 6 Spares Centres (Hamburg, Frankfort, Washington, Beijing, Singapore and Dubaï) Airbus centre CAE Training centre Main Airbus Field Representative Dedicated 24/7 Customer Front Desk service: ACJ Exclusive 245 Airbus Field representative located in 167 stations Expert support, whenever you want, wherever you need ACJ Excellent operational reliability and availability 99.8% With over 100 ACJ318/319/320 in-service, ACJ operators typically fly between 200 (private owner) and 1,100 (VIP charter operators) FH/year. Airframe Maintenance CHECKS CHECK INTERVAL MANHOURS DOWNTIME ESTIMATES Daily 36 h 6 - Weekly 8 Days 12 - A 600 FH/4 months 106 - C (AVG) 20 Mths 1,182 3 days 4C/6Yr 6 Years 5,750 14 days 8C/12Yr 12 Years 10,235 26 days No downtime before 20 months High maintenance intervals Low maintenance downtime Modern and efficient engines Fan Bypass Engine diameter Ratio ACJ319 CFM56-5B 68 in 5.9:1 BBJ CFM56-7B 61 in 5.1:1 68in G650 BR725 50 in 4.4:1 Global BR710 48 in 4.2:1 ACJ319–CFM56-5B XRS ACJ319 engines have a larger fan area and a higher bypass ratio = Lower fuel burn = Better Efficiency Most VIP operators will not have to remove the engine on ACJ318, ACJ319, or ACJ320 While they eventually will on a BBJ, Gulfstream or Global New aircraft market value Range x Volume / Market value ACJ represents best value for money Values: ASCEND V1 Oct 2011 (Except Global Express, G650: 2010 values; Lineage: Airbus estimate) Range: 8 pax NBAA profile Low ACJ inventory further helps maintain strong residuals ACJ318 ACJ319 ACJ320 ACJ321 ACJ TOTAL BBJ BBJ2 BBJ3 BBJ TOTAL Aircraft produced 19 76 12 1 108 106 19 6 131 Inventory 0 2 0 0 2 15 0 0 15 % on inventory 0% 2.6% 0% 0% 1.9% 14,1% 0% 0% 11.5% ACJ Family 2nd hand inventory never exceeds a handful of aircraft ensuring strong markets values Source Aircraft produced : From Airbus and Boeing websites as of December 2013 Source Inventory : From controller.com as of December 2013. Criteria: delivered aircraft up to 2013 included, excluding aircraft shown as owned by Airbus and Boeing Airbus ACJs show strong residual values • Average Annual Depreciation according to ASCEND: ACJ318 : 1.9% ACJ319 : 2.5% • ACJ transaction prices observed on the secondary market confirm that trend Age Strong residual values sustained throughout the aircraft life Source for residual value curves: ASCEND , Oct 2012. Based on Full Life Base Values Inflated Source for latest transactions: Airbus Corporate Jets ACJs are low-risk strong assets ACJs retain their resale values extremely well ACJs are easier to re-market thanks to: A Strong worldwide network of VIP charter operators and management companies A Highly versatile cabin layout allowing cost-effective refurbishment Ease of ACT reconfiguration (unique to Airbus) to match broader mission requirements Widebodies Airbus ACJ330 & ACJ340 Gala concept ACJ330/ACJ340 Gala concept meets most VVIP needs Moscow Beijing New York Riyadh Lagos Singapore Papeete Sao Paulo Sydney Santiago Johannesburg VVIP section for elegant comfort & privacy Large premium & economy seating for guests & staff "Nonstop to the world" range Gala cabin concept combines VIP & airline-style seating Airbus A330 & A340 Executive seats Executive seats Staff seats VVIP Door 1 Door 2 Door 3 Door 4 Bathroom Bedroom Office Conference More value for your money $$ $.