United Airlines’ loss of airplanes could be other airlines’ gain.
United, the largest airline operating in Denver, is returning four of its Boeing 767-300s to aircraft financiers after being unable to reach a deal to cut leasing costs. It suspended a flight between Chicago and Buenos Aires, Argentina, as a result.
Renegotiation of its aircraft leases is key to United getting out of bankruptcy, where it has been for more than two years.
Among the airlines circling United’s former 767s is Indianapolis-based ATA, which has been looking for planes for months.
“There are only a limited number of those on the market,” said ATA spokeswoman Roxanne Butler.
ATA wants to replace Lockheed 1011 planes that it uses for military flights, and 767s are what they’re eyeing.
“The 767-300ER is a perfect airplane (for ATA),” said Evergreen aviation consultant Mike Boyd. “It’s whether they can afford it or not.”
The demand for the 767-300 probably influences negotiations with United.
“These 767-300s – everybody wants them,” so the lessors are “in the catbird seat,” Boyd said.
But, he added, “If I’m a lessor, I’d rather have United flying it rather than anybody else because United’s maintenance is better than anybody else’s.”
United lost significant negotiating power after a judge rescinded a temporary restraining order on repossession of eight of its planes under negotiation.
Another four planes United was negotiating on had been at risk until the weekend, when an agreement was reached with the lessors.
United spokeswoman Jean Medina had said earlier that United’s ” intent is not to pay above market rates.”
Staff writer Kelly Yamanouchi can be reached at 303-820-1488 or kyamanouchi@denverpost.com.
