Airbus A380 operator Hi Fly Malta
Teardown and second-hand market
With four A380s leased to Singapore Airlines having been returned between October 2017 and March 2018, Dr. Peters feared a weak aftermarket and is considering scrapping them, although they are on sale for a business jet conversion, but on the other hand Airbus sees a potential for African airlines and Chinese airlines, Hajj charters and its large Gulf operators. An A380 parted out may be worth $30 million to $50 million if it is at half-life. Teardown specialists have declined offers for several aircraft at part-out prices due to high risk as a secondary market is uncertain with $30 to $40 million for the refurbishment, but should be between $20 and $30 million to be viable.When the aircraft were proposed to British Airways, Hi Fly and Iran Air, BA did not want to replace its Boeing 747s until 2021, while Iran Air faced political uncertainty and Hi Fly did not have a convincing business case. Consequently, Dr. Peters recommended to its investors on 28 June 2018 to sell the aircraft parts with VAS Aero Services within two years for US$45 million, quickly for components like the landing gear or the APU.
Rolls-Royce Trent 900 leasing beyond March 2019 should generate US$480,000 monthly for each aircraft before selling the turbofans by 2020. With a total revenue of US$80 million per aircraft, the overall return expected is 145–155% while 72% and 81% of their debt had already been repaid.The fifth plane coming back from SIA, owned by Doric, has been leased by Hi Fly Malta with a lease period of "nearly 6 years". Hi Fly Malta became the first operator of second-hand A380 (MSN006). Norwegian Long Haul briefly leased Hi Fly Malta A380 in August 2018, which operated the aircraft following engine problems with their Dreamliner fleet. Norwegian leased the A380 again in late 2018 to help deal with the passenger backlog as a result of the Gatwick Airport drone incident.
Two others returned from Singapore Airlines in the coming weeks (June 2018) but they could stay with an existing Asian A380 flag carrier.The teardown value includes $32–$33 million from the engines in 2020 and $4 million from leasing them until then, while the value of a 2008 A380 would be $78.4 million in 2020 and its monthly lease in 2018 would be $929,000.
The two aircraft have returned 3.8–4.2% per year since 2008 but the 145–155% return is lower than the 220% originally forecast.
Of the nearly 500 made, 50 747-400s were sold in the secondary market, including only 25 to new customers.
These are among the first A380s delivered, lacking the improvements and weight savings of later ones.The first two A380s delivered to Singapore Airlines (MSN003 and MSN005) flew to Tarbes, France, to be scrapped. Their engines and some components had been dismantled and removed while the livery was painted over in white.As of September 2019, Emirates initiated its A380 retirement plan – which will see the type remain in service until at least 2035 – by retiring two aircraft that were due for a major overhaul, and using them as parts donors for the rest of the fleet. Emirates does not see any demand in the second-hand market, but is indifferent in that the retired aircraft have already been fully written down and thus have no residual value. As further aircraft are retired, Emirates-owned airframes will continue to be used for parts, while leased airframes will be returned to the lessors. One such return to lessor Doric was purchased by Emirates for £25.3 million in late 2022, as spare parts.Former operators
Air France operated 10 A380-800s from 2009, and retired them in May 2020 due to the COVID-19 pandemic.
Hi Fly Malta operated 1 Airbus A380-800 from 2018, and retired it in December 2020 because of the impacts of the COVID-19 pandemic on air travel.
Malaysia Airlines (first service on 1 July 2012) All of its A380s were retired by October 2022, and they were returned to lessors starting from November 2022 (announced in May 2021).
China Southern Airlines (first service on 17 October 2011) All of its A380s were retired by November 2022 (announced in February 2022).
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