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Airlines

Name: INTREPID AVIATION
7JetSet7 Code: INL
Status: Operational
Region: NORTH AMERICA
City: CORDOVA
Country: USA
Employees 77
Web: intrepidaviation.com
Email: iapnews@intrepid.com
Telephone: +1 (901) 755-1247
Fax: _1 (901) 759-9965
Sita:
Background
(definitions)

FORMED IN 1997. USED JET AIRPLANE SALES AND LEASING COMPANY.

USA (United States of America) was established in 1776, it covers an area of 9,363,123 sq km, its population is 280 million, its capital city is Washington DC, and its official language is English.

MAY 1997: HQ IN CORDOVA, TENNESSEE.

3 727-227'S (21996; 21999; 22001), EX-(BNF); 1 727-2B7 (22162), EX-(USA); & 2 727-264'S (22983; 23014), EX-(USA), LEASED TO AMERICAN TRANSAIR (AAT).

JULY 1999: 727-200 (20638), EX-CONTINENTAL AIRLINES (CAL) PURCHASED FROM HOUSEHOLD COMMERCIAL FINANCE.

NOVEMBER 1999: 727-200 (21427), EX-CONTINENTAL MICRONESIA (MCR), LEASED TO AMERIJET (AMJ). 1 727-200 (21601), EX-SUN COUNTRY AIRLINES (SCA), LEASED TO ATA AIRLINES (AAT).

August 2002: A300B4-600 (361, N717FD), bought from Korean Airlines (KAL).

June 2003: HQ in Germantown, Tennessee.

(http://www.intrepid aviation.com). (info@intrepidaviation.com).

January 2007: Airbus (EDS) said it reached agreements to sell 26 A330-200F freighters, with 20 going to USA lessor Intrepid Leasing (INL) and six to India's Flyington Freighters (FFR), marking the first sales of an airplane type launched last summer.

The first delivery to Intrepid (INL) is expected in early 2010. "When we shifted our focus a few years back to wide body freighters, we began to keep a close eye on developments at Airbus (EDS)," Intrepid Aviation (INL) CEO, Ron Anderson said in a statement. "We are excited to be a launch customer for the A330-200F freighter . . . Its size, range and exceptional economics make it very attractive for airlines needing a medium- to long-range wide body freighter."

First delivery to Hyderabad-based (FFR), which becomes the first airline to order the A330-200F, is expected in the 2009 second quarter. "We ordered it because it offers us significant operational benefits and suits our business model," Chairman, Venkattram Reddy said.

Airbus (EDS) said the A330-200F can haul up to 64 metric tons over 4,000 nm/7,400 km or 69 metric tons up to 3,200 nm/5,930 km.

June 2007: Airbus (EDS) continued its strong Paris Air Show by signing firm orders for 15 A330-300s plus 10 options for AirAsiaX (ASW), eight A330-300s for Thai Airways (TII), and 20 A330-200Fs for lessor Intrepid Aviation Group (INL), and hinted that more orders will be announced the following day. Thai (TII) will use the airplanes to replace older types in its fleet and Intrepid (INL)'s order firms and expands a previously announced agreement for 15 A330-200Fs, Airbus (EDS) said. Start-up long-haul Low Cost Carrier (LCC) AirAsiaX (ASW) founder Tony Fernandes said the carrier, slated to launch in September, will stake its future on the A330. Intrepid (INL)'s order, which is valued at $3.5 billion, is Airbus (EDS)'s largest for its newest freighter model. It has secured 52 commitments for the type, of which 38 are firm orders, COO Customers, John Leahy said, adding that he plans to "have them all firmed by the end of the year." Delivery of the first A330-200F (to Flyington Freighters (FFR)) is scheduled for the end of 2009. Deliveries of Intrepid (INL)'s freighters will start in 2010, and run through 2012. The Memphis-based lessor selected Rolls-Royce (Trent 700)s for 17 of the airplanes but has not decided on an engine for the remaining three. CEO, Ron Anderson revealed that he has been talking to Airbus (EDS) about launching an A330-300F version. "We had a meeting at Airbus (EDS) last week to make the business case," he said. "We are prepared to place an order for the airplane if they go for it."

February 2009: AAR (ALC) said Intrepid Aviation (INL) selected it as its preferred supplier to provide up to 20 cargo systems for its fleet of A330-200F freighters. (ALC)'s Cargo Systems operating unit will manufacture the systems, which will be installed as airplanes come off the assembly line at Airbus (EDS)'s shop in Toulouse. Work is scheduled through 2011 and delivery of the first system is expected this fall.

October 2009: Airbus (EDS) said it is "quite optimistic" that the A330-200F freighter is on track for first flight next month, USA (FAA)/(EASA) certification next spring and Entry Into Service (EIS) in the 2010 summer. "We've done a lot of testing in the laboratory . . . so we are very ready to have a clean flight test program," A330-200F Project Manager, Jens Knaack said during a conference call. The A330-200F is targeted to carry "at least" 64.5 tonnes over 4,000 nm/7,400 km or 69.5 tonnes up to 3,200 nm/(5,930 km. Knaack described it as a "general freight, high-utilization" airplane. India's Flyington Freighters (FFR) and USA lessor, Intrepid Leasing (INL) are set to receive the first two A330-200Fs next summer. The most recent order was placed last month by MNG Airlines (MHK). (EDS) said it has firm orders for more than >50 from nine customers.

June 2011: Intrepid Aviation (INL) named leasing industry veteran, Frank Pray as its President. He was formerly President & CEO of (AWAS) (AWW) from 2006 - 2010. Prior to that, he was with CIT Aerospace (TCI) for nine years.

(INL) said CIT Aerospace (TCI) leasing executive, John Shavinsky will join the company as its new CEO. Shavinsky was formerly Senior VP at (TCI). Prior to that, he was with (ILFC) (ILF) and Boeing (TBC).

July 2013: Airbus (EDS)' report shows another decline in the backlog for the A330-200F. Aircraft lessor, Intrepid Aviation (INL) switched an A330-200F to an A330-300, bringing its A330-200F backlog down to five. Total A330-200F orders now stand at 45 with 22 delivered.

December 2013: (KfW) (IPEX)-Bank has closed financing of a new A330-200 airplanes for the Intrepid Aviation Group (INL). The new A330-200 was delivered to Air Namibia (NAM) and will operate under a long-term operating lease agreement for the African airline.

July 2014: Intrepid Aviation (INL) announced the leasing company’s first direct Boeing order for six 777-300ERs (Extended Range), valued at $1.9 billion at current list prices.

Intrepid (INL) also has the option to purchase an additional four 777s. If all options are exercised, the value could reach more than >$3.2 billion at list prices. “The economics of the 777-300ER are outstanding and offer an attractive growth potential for our airline customers,” said Franklin Pray, Intrepid Aviation President & (CEO). “We are pleased to work with Boeing (TBC) and add this order of the most popular twin-aisle airplane of all time to our existing fleet of 777-300ERs.”

The 777 is the world’s most successful twin-engine, long-haul airplane. The 777-300ER is equipped with the world’s most powerful (GE90-115B) commercial jet engine, and can seat up to 386 passengers in a three-class configuration with a maximum range of 7,825 nautical miles/14,490 kilometers.

Intrepid Aviation (INL) is a privately held commercial airplane lessor, which owns commercial airplanes leased to airline operators worldwide. Intrepid Aviation (INL) focuses primarily on twin-engine wide body equipment, such as the Boeing 787 and 777.

September 2014: Intrepid Aviation (INL) and (KfW IPEX)-Bank have closed a commercial financing transaction for one Airbus A330-300. The airplane was delivered August 30 and will be on an operating lease to Cebu Pacific (CEB).

A330-302 (1367, N18359), bought from (GECAS) (GEF) leased to China Airlines (CHI).

Intrepid Aviation has acquired one Airbus A330-300 equipped with two (GE) (CF6-80E1A4) engines. The A330-300 was manufactured in late 2012 and has since been on lease to China Airlines (CHI). This is the second A330-300 airplane Intrepid (INL) has acquired on lease to (CHI).

July 2015: News Item A-1: News Item A-3: Delta Air Lines (DAL) is hoping to strengthen partnerships with carriers in South Korea, Mexico, and Brazil, and it has been approached about investing in Japan's bankrupt Skymark Airlines (SKM), (DAL)'s President, Ed Bastian told reporters July 6.

The comments, made on the sidelines of the International Air Transport Association's (IATA) annual meeting, reflect Delta (DAL)'s focus on streamlining flight service through cross-country partnerships and ventures.

Bastian declined to comment on the status of the Skymark (SKM) investment talks and what their outcome might be. Aircraft leasing firm Intrepid Aviation (INL), the biggest creditor of Skymark Airlines (SKM), is seeking another sponsor for the failed budget carrier instead of (ANA) Holdings Inc, a Japanese rival airline bidding to take part in the restructuring.

(SKM) holds landing slots at Tokyo's Haneda Airport that USA airlines consider valuable, as a treaty limits USA carriers to 4 slots there. A (SKM) investment could pave the way for greater (DAL) service to Asia, where USA airlines are competing vigorously to grow.

Skymark (SKM)'s creditors are slated to vote on the rival plans by an August 5 meeting of debt holders. Both plans would likely result in the winning sponsor taking a stake of under <20% in (SKM).

Airline leasing firm Intrepid Aviation (INL), Skymark (SKM)'s biggest creditor, said it had conducted a thorough process to identify the strongest sponsor candidate. As an incentive for other creditors to adopt its plan with (DAL) as the sponsor, (INL) in its rehabilitation plan, said it would withdraw a demand that (SKM) pay it 30 billion yen/US$242.91 million. "We feel confident that this plan provides a better solution to the creditors, so we are quite hopeful that the plan will be accepted," Franklin Pray, Intrepid (INL) President & (CEO), said at a press briefing in Tokyo.

Intrepid (INL), Skymark (SKM)'s biggest creditor, holds 38.1% of (SKM)'s debt, followed by the Airbus Group with 28.9% and jet engine maker Rolls-Royce (RRC) Holdings with 15.7%.

Skymark (SKM) holds 36 landing slots at Tokyo's Haneda Airport, which connects to cities throughout Japan and which many travelers prefer to Narita International Airport, because it is closer to central Tokyo.

(SKM) ran into financial trouble after an ambitious expansion that included buying Airbus A380 jumbo jets. It filed for rehabilitation proceedings in late January.

News Item A-2: Intrepid Aviation (INL) appointed Gerry Aubrey to Senior VP New Aircraft Programs.

December 2015: Intrepid Aviation (INL) delivered one new Airbus A330-300 to (EVA) Airways. The aircraft is powered by (CF6-80E) engines and is subject to a long-term lease to (EVA).

January 2016: SR Technics (SWS) will provide cabin modifications to Intrepid Aviation (INL) on 7 of the lessor’s Airbus A330s. (SWS) will install modifications and retrofit in-flight entertainment systems and wireless capabilities on the A330s in Zurich. Design specifications, supply-chain management and planning will also be carried out in Dublin. And (SWS) will do heavy maintenance and painting on the A330s.

March 2016: Lessor, Intrepid Aviation (INL) has chosen the FLYdocs aircraft data and records management platform for its fleet in a deal that also includes full scanning and associated aircraft technical services.

April 2016: Intrepid Aviation (INL) concluded the sale of 1 Rolls-Royce (RRC) powered Airbus A330-300 aircraft to an affiliate of Banco Santander S A. The aircraft was acquired new by Intrepid (INL) in December 2015 and delivered under a long-term operating lease to Evelop Airlines, based in Palma de Mallorca, Spain.

October 2016: News Item A-1: Intrepid Aviation (INL) reached agreement with Boeing (TBC) to cancel 2 of its 6 777-300ERs on order and instead take 2 747-8Fs in 2017 (subject to lease placement); 2 other 777-300ERs are being deferred to (1H) 2019 and 2 are being leased to Philippine Airlines (PAL) in (4Q) 2016.

"Boeing, Intrepid Leased 1st (PAL) 777-300ER"
by (ATW) Kurt Hofmann linda.blachly@penton.com, October 31, 2016.

Boeing (BCA) has delivered Intrepid Aviation (INL)’s 1st direct ordered Boeing 777-300ER, which will be leased and operated by Philippine Airlines (PAL). This 777 is the 1st of 4 777-300ERs ordered by (INL), the Stamford, Connecticut, USA-based lessor. “This 777 delivery to (PAL) underlines (INL)’s continuous focus on investment into new airplanes on long-term leases with established, strong airlines worldwide,” (INL) (CEO) Olaf Sachau said.

(PAL) plans to use the new 777s primarily on routes to North America. (PAL) is scheduled to take a 2nd 777-300ER from Intrepid before the end of the year. “The 777 has become our standard for passenger comfort, deployed on our long-haul routes,” (PAL) President & (COO) Jaime Bautista said. “It is the pivotal equipment that will propel us to our corporate vision of becoming a 5-star airline.”

Fleet:
(definitions)

Click below for photos:
INL-777-300ER-2014-07

December 2017:

3 727-227 (JT8D-9A HK) (1571-21996, /80; 1581-21999, /80; 1585-22001, /80), EX-(BNF), LST (AAT) 1997-05.

1 727-227 (JT8D HK) (1218-21248, N76752), LST (TCN) 2004-02.

1 727-2B7 (JT8D HK) (1717-22162, /81), EX-(USA), LST (AAT) 1997-05.

2 727-264 (JT8D HK) (1806-22983, /82; 1816-23014, /83), EX-(UAS), LST (AAT) 1997-05.

1 727-200 (JT8D HK) (20638), EX-(CAL), FROM HOUSEHOLD FINANCE 1999-07.

2 ORDERS (2017-02) 747-8F SUJECT TO LEASE PLACEMENT:

4 ORDERS 777-300ER, 2 LSD TO (PAL), 2 ORDERS CANCELED:

4 A300B4-622 (361, N717FD; 388, 2003-09), EX-(KAL) 2002-08, LST (FED).

1 A310-300.

14 +5 ORDERS A330-200F.

2 ORDERS A330-300 FOR DELIVERY TO CEBU PACIFIC (CEB) IN 2014:

2 A330-343 (1483, JA330A; 1491, JA330B), LST (SKM) 2014-02. 271 PAX.

Management:
(definitions)

FRANKLIN PRAY, PRESIDENT & CHIEF EXECUTIVE OFFICER (CEO), EX-(AWW)/(TCI) (2011-06).

JOHN SHAVINSKY, CHIEF EXECUTIVE OFFICER (CEO), EX-(TCI)/(ILF)/(TBC) (2011-06).

VOLKER FABIAN, CHIEF COMMERCIAL OFFICER (CCO).

BRUCE WHITESTONE, EXECUTIVE VP TECHNICAL (bwhitestone@intrepid.com).

STEVE FORTUNE, EXECUTIVE VP COMMERCIAL.

JIM SELBERG, CHIEF FINANCIAL OFFICER (CFO).

GERRY AUBREY, SENIOR VP NEW AIRCRAFT PROGRAMS (2015-07).

STEVE WEISBERG, VP TECHNICAL (sweisberg@intrepid.com) (2003-06).

PETER LAMOTTE, VP MARKETING.

 
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