UPDATE: Air New Zealand to replace Ansett's troubled Boeing 767 aircraft

Airline Industry Information, May 1, 2001

AIRLINE INDUSTRY INFORMATION-(C)1997-2001 M2 COMMUNICATIONS LTD

(Clarifies details of deal and adds new information.)

Air New Zealand, the parent company of Ansett Australia, has stated that it will be selling Boeing 767-200 aircraft flown by Ansett and itself to a unit of General Electric Co.

The deal includes Ansett's seven oldest 767s as well as three Air New Zealand 767s. Ansett's 767s have been at the centre of recent maintenance problems, and it is expected that they will be replaced by 2004 with newer and larger 767-300ER aircraft leased back from GECAS according to The West Australian. A spokesperson for Air New Zealand stated on 27 April: 'We do have a price and the first aircraft will be leaving us within 12 months, and [the others] progressively replaced with new aircraft through to 2004.' The deal is valued at about AUD350m.

Air New Zealand indicated that the grounding of Ansett's ten Boeing 767 aircraft had cost about NZD5.2m and that while three of the aircraft were already back in service, the remainder will be returned to service by 4 May.

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