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Private A380 Already Being Re-sold  
User currently offlineAF185 From Hong Kong, joined Sep 2012, 257 posts, RR: 0
Posted (1 year 6 months 2 weeks 1 day 9 hours ago) and read 26960 times:

Hi all,

According to Bloomberg, Prince Alwaleed re-sold his private A380 in order to invest in Middle Eastern companies.

Quote:
Prince Alwaleed Bin Talal Al Saud, the world’s 15th-richest person, sold his Airbus A380 jet plane in the past four months, according to Shadi Sanbar, chief financial officer of the billionaire’s Kingdom Holdings Co.

The 57-year-old, who bought the plane in 2007, used the proceeds from the sale to expand his investments in Saudi Arabia and the greater Middle East, Sanbar said in an e-mail to Bloomberg News. He would not disclose the buyer or the sale price, citing “strict confidentiality” agreements.

Any thoughts on the new owner? My guess is it's a new private owner considering the interior investment made for that frame, however what could be the feasibility of re-selling to a regular airline?

Whole story here: http://www.bloomberg.com/news/2013-0...o-invest-in-middle-east-firms.html

24 replies: All unread, jump to last
 
User currently offlineBMI727 From United States of America, joined Feb 2009, 15735 posts, RR: 26
Reply 1, posted (1 year 6 months 2 weeks 1 day 9 hours ago) and read 26911 times:

It's not at all uncommon for nearly new business jets or production slots to be re-sold. For that matter cars are similar. I know that Gulfstream and Lexus have taken steps to fight the practice, but it's still alive and well for the most part.


Why do Aerospace Engineering students have to turn things in on time?
User currently offlineWingedMigrator From United States of America, joined Oct 2005, 2212 posts, RR: 56
Reply 2, posted (1 year 6 months 2 weeks 1 day 8 hours ago) and read 26597 times:

Heh... I didn't know that word of my recent purchase would get out so quickly.  

User currently offlinelightsaber From United States of America, joined Jan 2005, 13011 posts, RR: 100
Reply 3, posted (1 year 6 months 2 weeks 1 day 7 hours ago) and read 26342 times:
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Rough choice... big jet or buy part of a city...   

Quoting WingedMigrator (Reply 2):
Heh... I didn't know that word of my recent purchase would get out so quickly.

Dude... are you going to add spinners?  

Lightsaber



Societies that achieve a critical mass of ideas achieve self sustaining growth; others stagnate.
User currently offlinedc1030cf From United States of America, joined Sep 2012, 66 posts, RR: 0
Reply 4, posted (1 year 6 months 2 weeks 1 day 6 hours ago) and read 26119 times:
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I just read the same from this link. It has some interesting points http://verovenia.wordpress.com/  

User currently offlineRickNRoll From Afghanistan, joined Jan 2012, 812 posts, RR: 0
Reply 5, posted (1 year 6 months 2 weeks 1 day 6 hours ago) and read 26119 times:

Quoting AF185 (Thread starter):
According to Bloomberg, Prince Alwaleed re-sold his private A380 in order to invest in Middle Eastern companies.

Too much plane? Not enough range? Waiting for the HGW version?


User currently offlinePHX787 From Japan, joined Mar 2012, 7434 posts, RR: 17
Reply 6, posted (1 year 6 months 2 weeks 1 day 6 hours ago) and read 26066 times:

What's the status on this airplane reaching completion anyway? Wasn't there a recent thread or post showing the details on the aircraft (including a garage in the bottom level of the aircraft?)

Quoting lightsaber (Reply 3):
Dude... are you going to add spinners?

These are the only spinners I'll ever need      
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次は、渋谷、渋谷。出口は、右側です。電車とホームの間は広く開いておりますので、足元に注意下さい。
User currently offlinePellegrine From United States of America, joined Mar 2007, 2437 posts, RR: 8
Reply 7, posted (1 year 6 months 2 weeks 1 day 1 hour ago) and read 25104 times:

Quoting PHX787 (Reply 6):
What's the status on this airplane reaching completion anyway? Wasn't there a recent thread or post showing the details on the aircraft (including a garage in the bottom level of the aircraft?)

It never had any interior customization done. I wouldn't want an old, first off the line, stitched-up aircraft anyway. He's either happy with his 747-400, or willing to wait for a new build.



oh boy!!!
User currently offlineDevilfish From Philippines, joined Jan 2006, 4805 posts, RR: 1
Reply 8, posted (1 year 6 months 2 weeks 1 day ago) and read 24845 times:

Quoting Pellegrine (Reply 7):

It never had any interior customization done.

It was reported that completion centers were wary of taking on the massive project.....

http://www.flightglobal.com/news/art...s/a380-completions-squeeze-350719/

Quote:
"However, when it comes to the A380, the completions giants are cautious. Airbus believes there is a market for 30 VIP versions of the superjumbo and is talking to most of the owners of the around 25 privately and government-owned current generation 747s, Airbus vice-president executive and private aviation Francois Chazelle said at the show.

However, the massive investment involved in equipment and capabilities to outfit its 551m2 (5,930ft2) interior, together with a long backlog of other large-aircraft completions, means none of the big players are rushing to take on the first VIP A380, to Saudi Arabia's Prince Al Waleed and due to come off the Airbus production line next year.

'We cannot accept the A380 any time before 2014,' says Walter Heerdt, senior vice-president of marketing and sales for the German company. 'There is 18-21 months of lead time before we could touch the airplane, and we have told Airbus this'."



"Everyone is entitled to my opinion." - Garfield
User currently offlinePellegrine From United States of America, joined Mar 2007, 2437 posts, RR: 8
Reply 9, posted (1 year 6 months 2 weeks 1 day ago) and read 24686 times:

Quoting Devilfish (Reply 8):

It was reported that completion centers were wary of taking on the massive project.....

I think this was due to backlog only. Not any necessary wariness. They would be getting a check/wire transfer for at least US$100,000,000. For the interior only......



oh boy!!!
User currently offlinebongodog1964 From United Kingdom, joined Oct 2006, 3571 posts, RR: 3
Reply 10, posted (1 year 6 months 2 weeks 23 hours ago) and read 23561 times:

Quoting Devilfish (Reply 8):
It was reported that completion centers were wary of taking on the massive project.....

http://www.flightglobal.com/news/art...0719/

This article is more than 2 years old, so its relevance is strictly limited.

The big question is what has he really sold. if its just a structually complete very early A380 with no interior its probably at a considerable discount to new price, if however it is sold complete with plans for the fit out, the work booked or under way and the materials ordered/paid for. it will be worth considerably more.

Does anyone know if the work has ever been commissioned or started ?

If it hasn't we might even be seeing the first A380 part out, considering that its a one off airframe, requiring wing strengthening, with the early wiring problems and any other issues that have cropped up in the past few years.


User currently offlinePellegrine From United States of America, joined Mar 2007, 2437 posts, RR: 8
Reply 11, posted (1 year 6 months 2 weeks 23 hours ago) and read 23510 times:

Quoting bongodog1964 (Reply 10):

If it hasn't we might even be seeing the first A380 part out, considering that its a one off airframe, requiring wing strengthening, with the early wiring problems and any other issues that have cropped up in the past few years.

Airbus will keep it or try to sell it on. It is too early for parting out.



oh boy!!!
User currently offlinescouseflyer From United Kingdom, joined Apr 2006, 3389 posts, RR: 9
Reply 12, posted (1 year 6 months 2 weeks 23 hours ago) and read 23065 times:

Quoting bongodog1964 (Reply 10):
If it hasn't we might even be seeing the first A380 part out, considering that its a one off airframe, requiring wing strengthening, with the early wiring problems and any other issues that have cropped up in the past few years.

It was refurbished about 18 months ago and expected to fly off to a fit out centre in 2012 and then sudenly it was taped up and engines removed again.

Quoting Devilfish (Reply 8):
However, the massive investment involved in equipment and capabilities to outfit its 551m2 (5,930ft2) interior, together with a long backlog of other large-aircraft completions, means none of the big players are rushing to take on the first VIP A380, to Saudi Arabia's Prince Al Waleed and due to come off the Airbus production line next year.

Eh it came of the production line in 2005?


There is a market for this - I would imagine that the costs are long ago written off so very discounted price could be possible - The rumoured order for "U Airlines" loco in Thailand perhaps?


User currently offlinestarrion From United States of America, joined Jul 2003, 1126 posts, RR: 2
Reply 13, posted (1 year 6 months 2 weeks 17 hours ago) and read 16003 times:

If AIrbus took it back, how difficult would it be for them to complete it to airline spec and put it in the current build stream?


Knowledge Replaces Fear
User currently offlinegoosebayguy From United Kingdom, joined Sep 2009, 397 posts, RR: 0
Reply 14, posted (1 year 6 months 2 weeks 16 hours ago) and read 14530 times:

I wondered what had happened to this one. It seemed to vanish a few months ago.Makes me wonder if he has had a cash crunch? He owns about 5% of citibank and I think some of his investments have been hit over the last few years. Perhaps its Qatar which has bought it?

User currently offlineGr8Circle From Canada, joined Dec 2005, 3099 posts, RR: 4
Reply 15, posted (1 year 6 months 2 weeks 16 hours ago) and read 13668 times:

Rich people like Al Waleed don't really "need" an A380......this was probably more of an egoistic purchase.....priorities change and he probably decided he doesn't want it anymore and would like to put the money to some other use instead....I guess, with a net worth of billions of dollars, he must be taking such decisions every other day.....

User currently offlineMadameConcorde From San Marino, joined Feb 2007, 10893 posts, RR: 37
Reply 16, posted (1 year 6 months 2 weeks 15 hours ago) and read 12825 times:

I am surprised Roman Abramovich did not buy it from him.

Are there any other private clients who have placed orders for personal A380s?

Prince al Waleed has to build his mega-skyscraper Kingdom Tower in Saudi Arabia so maybe he needs every penny he can find for the tower's construction?

http://kingdomtowerskyscraper.com/

Location: Jeddah, Saudi Arabia
Architect: Adrian Smith +
Gordon Gill Architecture

Construction estimates:
- start date: January, 2012
- end date: 2017

- cost: $1.200.000.000 USD

Higher than Burj Khalifa!
I hope I will be able to travel to KSA to see it finished.

  



There was a better way to fly it was called Concorde
User currently offlineStitch From United States of America, joined Jul 2005, 30901 posts, RR: 87
Reply 17, posted (1 year 6 months 2 weeks 15 hours ago) and read 12632 times:
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Quoting MadameConcorde (Reply 16):
Are there any other private clients who have placed orders for personal A380s?

Not to my knowledge.


User currently offlinefcogafa From United Kingdom, joined May 2008, 784 posts, RR: 0
Reply 18, posted (1 year 6 months 2 weeks 15 hours ago) and read 12590 times:

There is also the problem of where to fly it. There is only a small number of major international airports that can handle the A380, so destinations are very restricted.

User currently offlineStitch From United States of America, joined Jul 2005, 30901 posts, RR: 87
Reply 19, posted (1 year 6 months 2 weeks 15 hours ago) and read 12313 times:
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Quoting fcogafa (Reply 18):
There is also the problem of where to fly it. There is only a small number of major international airports that can handle the A380, so destinations are very restricted.

I would expect A380CJ customers would be using remote parking areas (for security and privacy), so the number of fields that could handle it is probably larger than for commercial A380s that operate around other aircraft at gates and taxiways.


User currently offlineAF185 From Hong Kong, joined Sep 2012, 257 posts, RR: 0
Reply 20, posted (1 year 6 months 2 weeks 2 hours ago) and read 7583 times:

Quote:
Are there any other private clients who have placed orders for personal A380s?

If I'm not mistaking, Prince Alwaleed was the only customer for a private A380


User currently offlinecalvo747 From Australia, joined Dec 2012, 11 posts, RR: 0
Reply 21, posted (1 year 6 months 1 week 6 days 1 hour ago) and read 6655 times:

May be we all band together and make an offer....   

User currently offlinefcogafa From United Kingdom, joined May 2008, 784 posts, RR: 0
Reply 22, posted (1 year 6 months 1 week 6 days 1 hour ago) and read 6645 times:

Quoting calvo747 (Reply 21):
I would expect A380CJ customers would be using remote parking areas (for security and privacy), so the number of fields that could handle it is probably larger than for commercial A380s that operate around other aircraft at gates and taxiways.

Agreed, but the availability of code F taxiways etc at 'other' airports is very limited


User currently offlineN14AZ From Germany, joined Feb 2007, 2699 posts, RR: 25
Reply 23, posted (1 year 6 months 1 week 5 days 1 hour ago) and read 5681 times:

It's just a feeling but I could imagine he sold his A 380 within Saudi Arabia. Some months ago one a.net member from KSA started a thread saying that Saudia has procured A 380s. Maybe not Saudia but this Saudia Royal Flight Department thing (sorry, forgot the exact name)?

But independently from the question of the ownership - the problems remains that there are no open outfitting slots.


User currently offlineB777LRF From Luxembourg, joined Nov 2008, 1332 posts, RR: 3
Reply 24, posted (1 year 6 months 1 week 5 days ago) and read 5623 times:

Quoting PHX787 (Reply 6):
What's the status on this airplane reaching completion anyway? Wasn't there a recent thread or post showing the details on the aircraft (including a garage in the bottom level of the aircraft?)

Status is unchanged from what the article above says, and that's a couple of years ago. There are no completion centres who will undertake the effort of designing, constructing, installing and certifying an interior A380 conversion on the basis of 1 (one) order. Unless the sole owner is ready to bear the full costs, and even someone like Prince Al is unlikely to feel like parting with half a billion, particularly as he has rather large, hugely expensive and largely unnecessary, building project to attend to as well, the project is dead. The only thing that could have kept it alive was Airbus managing to secure those 30 orders needed for someone to take the plunge, but that hasn't happened yet and is unlike to do so within any reasonable timeframe.

As for Mr. Chelski being interested, I think even he - having just commissioned the largest yacht in history - might baulk a tad over the price. As we know, you could buy 2 or 3 very decent footy players for half a billion!

My guess is it's going into the fleet of an existing airline for a price we'll never be able to guess, but probably around a 100 (with wing mods and engines) plus refit. Basically, a free airframe. Have 'yer cake, Mr. Clarke  



From receips and radials over straight pipes to big fans - been there, done that, got the hearing defects to prove
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