British Airways has sold four of its wide-body aircraft to Griffin Global Asset Management and will leaseback the planes on a long-term agreement.
Griffin confirmed details of the deal on September 5, 2023, which will include two Boeing 787-10 aircraft and two new Airbus A350-1000s.
“Griffin is extremely pleased to welcome British Airways as a new customer with the deliveries of these two 787-10s and two A350-1000s. Our management team has a relationship with British Airways that spans decades, and we look forward to continuing to support their growth for many years to come,” Marc Baer, president of Griffin, said.
Baer added: “The A350 and B787 are core to BA’s fleet renewal program, and these four new fuel-efficient aircraft will assist the group in furthering its agenda to put sustainability at the heart of their business.”
In July 2023, BA’s parent company, International Airlines Group (IAG), announced it was making adjustments to its aircraft orders to restore capacity in its airlines’ long-haul fleets.
At the time Luis Gallego, IAG chief executive officer, confirmed that the company had converted British Airways options for six Boeing 787-10s into confirmed orders.
IAG also said it is adding six more 787-10 options to its long-haul order book.
According to ch-aviation.com British Airways currently operates a fleet of 222 aircraft, plus 43 more on wet lease.
The fleet is composed of a range of Boeing and Airbus aircraft, including 65 A320-200s and 53 Boeing 777s.