A start-up transatlantic carrier is taking advantage of a surplus of used Airbus A380 superjumbos, buying the first of four it plans to use to launch flights from the UK.
Global Airlines aims to begin flights next spring and, in an unusual move, has purchased its first aircraft outright instead of leasing it. Global, which is backed by parent company Holiday Swap, said it planned to acquire three more double-decker A380s in the coming months.
Holiday Swap, a UK brand, was founded in 2018 and claims to be a leader in the home sharing sector. It has stated intentions to establish an airline for several years, but saw plans hampered by the pandemic.
Choosing an A380 fleet is seen as high risk because of the aircraft’s size and running costs. Covid saw many carriers like Air France dispense with their A380s for precisely those reasons and there is now a glut in the second-hand market, meaning they can be bought for bargain prices.
The full list price for a new A380 from Airbus was $445.6 million, although this was always negotiated down. Doric Aviation – which has sold Global its first aircraft – recently sold another A380 to Emirates for $30.5 million after leasing it to the carrier for 14 years.
Global said only that it had paid an “eight-figure” sum for its first aircraft in a statement.
“Acquiring our aircraft rather than leasing showcases our commitment to financial security and resilience from day one,” said James Asquith, the airline’s founder and chief executive.
He added: “The purchase of our first aircraft demonstrates that we are well on the way to launching Global. The next step is to overhaul and refit the aircraft to our high specification, providing our customers with the best experience in the sky today."
Global said it would configure its fleet with “approximately” 471 seats with economy, business and first class cabins. TTG has contacted Global for further information.
Gary Noakes is TTG’s senior contributor and analyst.
