Jetrader - May/June 2008 - 23

Boeing 737-400 John McNicol, President, Aircraft Information Services, Inc. tel: +1 949 582-8888 E-mail: jmcnicol@aisi.aero appraisal BACKGROUND The B737-400 was launched June 4, 1986 and is powered by one engine type, the CFM56-3 engine. This type is common on the B737-300, -400 and -500 and is available in 20,000lb thrust (-3B1), 22,000 lb thrust (-3B2) and 23,500 lb thrust (-3C1) versions. Only the -3B2 and -3C1 are available on the B737-400 Basic specs: Wing Span – 94 ft 9 in Length – 119 ft 7 in Maximum Takeoff Weight – 138,500 to 150,000 lbs Maximum Landing Weight – 121,000 to 124,000 lbs Maximum Zero Fuel Weight – 113,000 to 117,000 lbs Operating Weight Empty – 75,800 to 77,520 lbs Fuel Capacity – 5,311 to 6,295 U.S. Gallons (with auxiliary fuel tanks) Range with 147 Passengers – 1,907 to 2060 nm Passenger Conﬁguration – 147 Seats – 2-class Up to 168 Seats – 1-class (economy at 30in pitch) Average Fleet Age – 15.4 years As of Jan 2008: Current Fleet + Backlog by Region Region Africa/Middle East Asia/Paciﬁc Europe/CIS North America South America Private/Gov’t/Military Brokers, Lessors, Mfg Total No. of Ops. 4 20 32 8 2 0 0 66 Total Fleet 14 171 168 91 5 8 2 459 % 3.04% 37.09% 36.88% 19.74% 1.08% 1.74% 0.43% 100.00% Orders 0 0 0 0 0 0 0 0 Stored 0 0 1 1 3 0 0 5 Current Fleet + Backlog by Engine Engine Total Fleet CFM56-3C1 399 CFM56-3B2 60 Total 459 % 86.93% 13.07% 100.00% Orders 0 0 0 Stored 5 0 5 Current and Future Market Outlook: The major competitors to the B737-400 are the Airbus A319/320/321 even though the A321 is considerably larger then the -400. The B737-400 also must compete with its smaller variant the B737-300, and with the next the new generation B737-700/800/900. The MD80/MD90 aircraft also compete, but represents older technology and both MD80 and MD90 production ceased by early year 2000 under the Boeing - McDonnell Douglas merger. Appraisal Values: B737-400, CFM56-3C1 Engines, 138,500 lb. MTOW Yr. of Mrgr. HLBV Million US$ 2008 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 8.93 9.29 9.71 10.15 10.64 11.15 11.68 12.31 12.97 13.68 14.38 15.06 HLCMV Million US$ 2008 8.39 8.73 9.13 9.54 10.00 10.48 10.98 11.57 12.19 12.86 13.52 14.16 HLFV 2009 7.91 8.23 8.60 8.99 9.43 9.88 10.34 10.90 11.49 12.11 12.74 13.34 HLFV 2010 7.45 7.76 8.11 8.48 8.88 9.30 9.75 10.28 10.82 11.42 12.01 12.57 HLFV 2011 7.03 7.31 7.64 7.99 8.37 8.77 9.19 9.68 10.21 10.76 11.31 11.85 HLFV 2012 6.62 6.89 7.20 7.53 7.89 8.26 8.66 9.13 9.61 10.14 10.66 11.17 HLFV 2013 6.24 6.49 6.78 7.10 7.43 7.79 8.16 8.60 9.07 9.55 10.05 10.53 HLFV 2014 5.80 6.04 6.32 6.60 6.91 7.25 7.59 8.00 8.43 8.90 9.35 9.79 HLFV 2015 5.41 5.62 5.88 6.15 6.44 6.75 7.07 7.45 7.85 8.28 8.71 9.11 HLFV 2016 5.03 5.23 5.47 5.73 5.99 6.28 6.59 6.94 7.31 7.71 8.11 8.49 HLFV 2017 4.68 4.87 5.09 5.32 5.58 5.85 6.12 6.46 6.80 7.18 7.54 7.89 HLFV 2018 4.35 4.53 4.74 4.96 5.19 5.44 5.70 6.01 6.33 6.68 7.02 7.35 HLBV (Half Life Base Value) • HLCMV (Half Life Current Market Value) • HLFV (Half Life Future Value) Future values transition from current market values today to a balanced market, assume 3.0% annual inﬂ ation and are average, single aircraft, half life values. The aircraft values stated herein are the product and property of independent third party sources, and ISTAT neither approves nor endorses the information contained herein or the use thereof for any purpose whatsoever. Information current as of 4/1/2008. Jetrader 23
Jetrader - May/June 2008

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