EMP Aviation Trading has closed the sale of two Airbus A350-941 aircraft from Hainan Airlines to EMP Aviation Trading.
The aircraft, bearing MSN 251 and 260, were acquired by EMP Aviation Trading following a successful return to service and further maintenance work after a COVID-19 induced storage of the aircraft.
EMP Aviation Trading sold the aircraft to lessor special purpose vehicles (SPVs) managed by GOAL German Operating Aircraft Leasing, which managed the transfer and placed the aircraft on operating lease to Fiji Airways.
“We are more than thrilled that we finalized this ambitious project,” said Ulf Hüttmeyer, CEO EMP Aviation Trading. “I would like to thank all of Hainan Airlines’ team, and everybody involved for their hard and dedicated work in this project. In addition, it was a pleasure to work with GOAL on this transaction – the team are experienced and dedicated professionals.”
Jochen Baltes, Managing Director of GOAL, commented: “We are very proud to have played a pivotal role in managing and delivering these two Airbus A350-900 aircraft to Fiji Airways and to work tireless with the experienced members of the EMP Team on this transaction. Our mission at GOAL is to provide airlines with the most advanced and efficient solutions, and these two aircraft exemplify that commitment.”
The A350-900 MSN 260 is owned by KGAL’s APF 5 fund, which is managed by GOAL along with its major shareholder KGAL. MSN 251 is owned by an International Investment Fund, with GOAL serving as the asset manager and MUFG Bank has provided crucial financial support as the lender.
Olivier Trauchessec, Managing Director, Head of Global Aviation, MUFG, said: “MUFG is honoured to have arranged the financing of this landmark transaction of one aircraft and to have teamed up with GOAL, combining our strong technical expertise to provide an efficient financing solution to Fiji Airways.”
Fiji Airways has held a welcome ceremony for both aircraft that Managing Director and Chief Executive Officer Andre Viljoen says has “fast become the pride of our airline and the joy of our passengers”, owing to its “superior cabin, significant fuel savings and substantial cargo capacity.
Fiji Airways fourth aircraft - named the Island of Vatulele – which arrived today from Singapore, flew the entire 8,520 km journey powered by a Sustainable Aviation Fuel (SAF) blend. This is the first time ever that Fiji Airways has operated a flight using a SAF blend.
Viljoen said that this inaugural SAF blend- powered flight demonstrates Fiji Airways’ “commitment to reducing its carbon footprint and ensuring a sustainable future for aviation”.
"As the national carrier of a small island developing state, we are acutely aware of the need for urgent action to combat climate change,” he said. “As an airline, most of our carbon emissions are generated by using jet fuel, so to meaningfully reduce our carbon footprint, we must embrace using a blend of sustainable fuels.”
With the fleet modernisation plan progressing – the airline now has four A350s in its fleet -
Viljoen says that the airline is now in a stronger position to explore new destinations since the aircraft is capable of flying much deeper into the United States or Canada.
“Fiji Airways brings in 70 percent of all visitors to Fiji,” said Viljoen. “We are crucial to the long-term sustainable growth of the tourism industry which is 45 percent of our Gross Domestic Product and the largest employer in the country. As the National Airline we recognize our role is not just to be the bridge to and from the world but to support the growth of tourism, one of the ways we can do this is by introducing new destinations with potential for high tourism opportunities.”
Fiji Airways is exploring the viability of future destinations including Dallas, Seattle, Beijing, Shanghai, Seoul and also Noumea, Wallis, Rarotonga, Port Moresby and several additional destinations in Australia.
The new aircraft will add more capacity to Fiji Airways’ leading source markets of Australia and New Zealand, North American long-haul flights to San Francisco and Vancouver, as well as Hong Kong.