AvAir Buys More Surplus Parts
U.S.-based aftermarket inventory specialist AvAir has added more surplus materials to its inventory after partnering with Icelandair on a full asset management contract.
The agreement includes the purchase all surplus materials and encompasses a variety of Boeing 757, 767, 737NG and 737 MAX parts.
All the components and materials will be stored at AvAir’s 25,000-sq.-ft. warehouse at Dublin International Airport in Ireland, which opened in March 2020. Icelandair’s fleet consists of 27 passenger aircraft, comprised of 18 757s, five 737 MAX and four 767s along with two cargo aircraft made up of two 757 passenger-to-freighter models.
In the wake of the COVID-19 crisis, which has seen carriers across the world explore ways of preserving liquidity, AvAir has acquired materials from several airlines including from the retired fleet of Argentinian flag carrier Aerolíneas Argentinas.
It also signed a notable deal with Lufthansa Technik in April of this year. The agreement saw AvAir acquire the majority of the German MRO’s overstock of rotable spares inventory with around 9,000-line items valued at $100 million added to its inventory.
“Creating new relationships has always been critical to AvAir, but the pandemic has made them more important than ever,” says Mike Bianco, CEO of AvAir. “Many airlines are looking for creative inventory solutions during this time of uncertainty…”.