VEB-Leasing seeks buyers for 22 B737 MAX and 20 A320neo

VEB-Leasing made a firm contract for the purchase of 22 B737 MAX and 20 A320neo a few years ago, for the subsequent delivery to now defunct Transaero, but now the lessor cannot find customers for these aircraft.

The order was placed by VEB prior to the fall of prices in 2014 and when the aviation industry was still growing in Russia. Shortly thereafter, Transaero went bankrupt and stopped flying in October 2015.

VEB will take delivery of the first two B737 MAX in late 2018, with no planned shifts in the timing of the deliveries. Airbus representatives did not comment on the delivery dates, however, the first A320neo is expected in 2019.

Predelivery payments around US$240 million were already made by VEB on all 42 aircraft, so a refusal to accept the aircraft will lead to a large loss for VEB. Total amount of the transaction is approximately US$2.4 billion, based on pricing of each aircraft, said to be around US$56-59 million.