Operating Costs At Crux of Aircraft Price Wars

摘要

From the 1960s through the early '80s, most new com-mercial aircraft were sold at, or very close to, list prices. The purchase of MD-80s by American Airlines (see photo) in 1984 was a defining event for the market's dynamics, shifting pricing power from the seller to the buyer. Since that event, there has been a growing discount off the list price and widening of the difference between list and appraisal prices of aircraft. As an example, in 1990 the appraised value of a Boeing 767-300ER was about 10% less than the average list price. Starting in 1993, the percentage discount began to rise, accelerating to 25% in 2000 and reaching 35% this year. All aircraft models show a similar pattern with slightly different percentages.