Jetrader - November/December 2009 - 15

appraisal Boeing 767-300ER Jack Feir President, Jack Feir & Associates Tel: 215-345-9009 jackfeir@aol.com Background Designed in the late 1970s and ﬁrst delivered in 1982, the B767 order backlog currently extends into 2012. If Boeing wins the USAF tanker/transport competition, production of the B767 family could continue as a military program for many more years. The B767 was the aircraft that energized the movement towards wide-body twins being used on long-haul, over-water ﬂights, and it was an early driver for the development of ETOPS regulations. These regulations paved the way for the introduction of other successful wide-body twins such as the Boeing 777 and Airbus A330 families, as well as models like the B787 and A350 now in development. The B767 family became Boeing’s ﬁrst wide-body twin. It was been produced in three body lengths as the 200, 300 and 400 Series. Delivered B767-200 B767-200ER B767-300 B767-300ER B767-300F B767-400ER Totals 128 121 104 535 51 38 977 Backlog 0 0 0 28 31 0 59 Totals 128 121 104 563 82 38 1,036 Basic Specs Having been in production since 1988 the basic specs of the B767-300ER have evolved over time. The following specs are representative of the current production model. Typical seating (2-class) 369 Max Takeoff Weight 412,000 lbs Range (full passengers & 10-ton cargo) 5,500 mi Wingspan 156 ft, 1 in Length 180 ft, 3 in Interior Cabin Width 15 ft, 6 in Engines P&W 4000 or GE CF6-80C2 Current & Future Market Outlook When deliveries of the new B787 had been forecast to begin in 2008, it was widely expected that deliveries of the B767s would soon come to an end, so by mid 2005 the backlog of 300ERs had dwindled to just seven units. However, with early delivery slots of the B787 ﬁlled quickly and the continual delays in that program, airline customers decided to place new orders for B767s, breathing new life into the program. Its competitor, the A330-200, likewise garnered many new orders for the same reasons. In the near-term future, because of their good fuel efﬁciency, the B767s ought to retain their values fairly well as it will be several years before the more efﬁcient new generation of B787s and A350s achieve much market presence. However, residual values will inevitably decline, as it now appears that demand on the freighter conversion side may be weaker than previously expected. The B767s delivered during the last few years of production could have shorter economic useful lives and lose their market values relatively quickly in comparison to those delivered during the 1990s. Current Base Values, Current Market Values and Future Base Values Yr Mfr 1989 1994 1999 2004 2009 CBV 21.5 28.1 36.6 50.6 74.9 CMV 19.4 25.8 34.3 48.3 72.6 2010 BV 20.0 26.2 34.0 46.9 67.8 2012 BV 17.0 22.5 29.2 40.1 55.7 2014 BV 14.0 19.0 24.9 34.1 45.7 2016 BV 11.1 15.6 20.8 28.7 37.4 2018 BV 8.2 12.4 17.0 23.9 30.1 Current values are as of September 2009, in millions of US dollars, 2.5% inﬂation 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 9/10/09. Jetrader 15
Jetrader - November/December 2009

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