Long Life for Boeing B777 Fleet

The Boeing 777 is the world's largest twinjet and has a typical seating capacity for 314 to 451 passengers, with a range of 5,235 to 9,380 nautical miles (9,695 to 17,372 km). Developed in consultation with eight major airlines, the 777 was designed to replace older wide-body airliners and bridge the capacity difference between Boeing's 767 and 747. As Boeing's first fly-by-wire airliner, it has computer-driven controls. It is also the first entirely computer-aided designed commercial aircraft.

The 777 ranks as one of Boeing's best-selling models. Airlines have acquired the type as a comparatively fuel-efficient alternative to other wide-body jets and have increasingly deployed the aircraft on long-haul transoceanic routes. As of August 2013, 1,467 Boeing 777s, of all variants, have been ordered, and 1223 have been delivered. Recently Boeing released info that  306 orders have already been placed for the new B777X. Direct market competitors include the Airbus A330-300, newly launched Airbus A350 XWB, and the out-of-production A340 and McDonnell Douglas MD-11. The 787 Dreamliner, which entered service in 2011, shares design features with the 777. In November 2013, Boeing announced the development of upgraded 777-8X and 777-9X models, collectively named 777X, featuring composite wings and GE9X engines and further technologies developed for the 787. The 777X series is planned to enter service by 2020.

Boeing’s innovative 108-foot-wide wing for the next generation Boeing B777s is going to bring even more success to this model. The new wing borrows design cues from a sailplane and the manufacturing process from Boeing's all-composite 787 airliner. With 20 percent more wing area than the current fleet of 777s, the 777X will become the largest twin-engine jet in the world.

This increased wing length and area will create more lift, decreasing fuel consumption and operating costs by more than 10 percent. Increased structural flexibility resulting from the composite construction materials will allow the long wings to gracefully curve up into the air at the tips. This curved shape will optimize the wing's aerodynamics to create even more lift.

As well as the shape and enhanced aerodynamic efficiency of the B777s new wing the Boeing's engineers created a unique folding wingtip in order to allow the B777 to move around and park at today’s busy and congested airports.

The continuation and expansion of the Boeing B777 Programme is also giving confidence to the pre-owned market for these aircraft. The knowledge the aircraft is going to be built for a long time guarantees the availability of spare parts.

Pre-owned B777-200ERs are starting to come onto the market. We sold one recently that is currently being converted into a VVIP aircraft and interest in this type has sparked recently. This is a great option to a B747-400 VVIP, as it offers range but at a much lower operating cost. Long-haul low cost airlines Jin Air (Korea) and Scoot (Singapore) are using pre-owned Boeing B777s. The other market I see for these aircraft is flying cargo.

The Boeing B747-400F is starting to regain traction on the pre-owned market because of the fall in fuel prices. However, long-term I think the Boeing B777 freighter is the one to go for. With much lower operating cost more and more freighter companies are looking at this aircraft for their air cargo fleet expansion.

Hedge-funds are currently looking at picking up pre-owned Boeing B777s, leasing them out as passenger aircraft for 3-5 years and then converting them into freighters, putting another 15-20 years onto their investment. 

Emerging economies in Africa and Far East are also seeing new long-haul airlines coming onto the market. A pre-owned 2001 B777-200ER at Fair Market Value of $38M offers a better option than a new B787 price ranging from $157M-200M (depending on variant).

So if you are in the market for Pre-Owned Boeing B777-200ERs, we do have some in our inventory.

Fabrizio Poli is an Aviation Analyst & Managing Partner of Boutique Aviation Company Tyrus Wings. He is also an accomplished Airline Transport Pilot having flown both private Jets and for the airlines. Fabrizio is also a bestselling author and inspirational speaker & has been featured in the Daily Telegraph, Wealth X, Financial Times, El Financiero and many other Media offering insight on the aviation world. You can tune in weekly to Fabrizio's business Podcast Living Outside the Cube.

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