AF185 From Hong Kong, joined Sep 2012, 117 posts, RR: 0 Posted (3 months 1 week 1 day 12 hours ago) and read 23222 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?
BMI727 From United States of America, joined Feb 2009, 14348 posts, RR: 26 Reply 1, posted (3 months 1 week 1 day 12 hours ago) and read 23173 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?
WingedMigrator From United States of America, joined Oct 2005, 2025 posts, RR: 56 Reply 2, posted (3 months 1 week 1 day 11 hours ago) and read 22859 times:
Heh... I didn't know that word of my recent purchase would get out so quickly.
lightsaber From United States of America, joined Jan 2005, 10689 posts, RR: 100 Reply 3, posted (3 months 1 week 1 day 10 hours ago) and read 22604 times:
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.
PHX787 From Japan, joined Mar 2012, 4973 posts, RR: 14 Reply 6, posted (3 months 1 week 1 day 9 hours ago) and read 22328 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?
Pellegrine From United States of America, joined Mar 2007, 1845 posts, RR: 8 Reply 7, posted (3 months 1 week 1 day 5 hours ago) and read 21366 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.
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'."
Pellegrine From United States of America, joined Mar 2007, 1845 posts, RR: 8 Reply 9, posted (3 months 1 week 1 day 4 hours ago) and read 20948 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......
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.
Pellegrine From United States of America, joined Mar 2007, 1845 posts, RR: 8 Reply 11, posted (3 months 1 week 1 day 3 hours ago) and read 19772 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.
scouseflyer From United Kingdom, joined Apr 2006, 3254 posts, RR: 10 Reply 12, posted (3 months 1 week 1 day 3 hours ago) and read 19327 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?
goosebayguy From United Kingdom, joined Sep 2009, 222 posts, RR: 0 Reply 14, posted (3 months 1 week 20 hours ago) and read 10792 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?
Gr8Circle From Canada, joined Dec 2005, 2987 posts, RR: 4 Reply 15, posted (3 months 1 week 19 hours ago) and read 9930 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.....
MadameConcorde From San Marino, joined Feb 2007, 10243 posts, RR: 40 Reply 16, posted (3 months 1 week 19 hours ago) and read 9087 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?
fcogafa From United Kingdom, joined May 2008, 633 posts, RR: 0 Reply 18, posted (3 months 1 week 18 hours ago) and read 8852 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.
Stitch From United States of America, joined Jul 2005, 26720 posts, RR: 83 Reply 19, posted (3 months 1 week 18 hours ago) and read 8575 times:
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.
fcogafa From United Kingdom, joined May 2008, 633 posts, RR: 0 Reply 22, posted (3 months 6 days 5 hours ago) and read 2907 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
N14AZ From Germany, joined Feb 2007, 2313 posts, RR: 25 Reply 23, posted (3 months 5 days 4 hours ago) and read 1943 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.
B777LRF From Luxembourg, joined Nov 2008, 1007 posts, RR: 3 Reply 24, posted (3 months 5 days 4 hours ago) and read 1885 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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