The way in which aircraft are financed and operated is changing as new aircraft concepts begin to enter the marketplace. George Land, HAV’s Commercial Business Development Director, provides an overview of the options our customers will have when it comes to financing and operating Airlander.

Financing new aircraft types

Traditionally, aircraft OEMs (Original Equipment Manufacturers) build aircraft and sell them to operators, sometimes purchased outright and sometimes with the support of a financial intermediary. However, the mainstream aircraft finance market seeks out proven assets and is therefore not well suited to supporting new aircraft types with early customers. As a result, the financing of early Airlanders could present a challenge for those customers who do not typically purchase assets outright.

At Hybrid Air Vehicles (HAV) we are working to be able to support the full spectrum of the needs of our customers. In order to provide this flexibility, HAV has secured a $200 million commitment from Global Emerging Markets. This investment, which will become available upon HAV’s successful listing, will allow HAV to hold aircraft on our balance sheet. This approach means HAV can offer more options to our customers on how they own and operate aircraft. These options vary from a more traditional purchase right through to leasing and chartering.

Airlander financing options

Purchase In this approach, a customer takes the title to the aircraft and either operates it in house or subcontracts its operation to an airline/operator.
Operating and finance leases In each case the aircraft is owned by a third-party lessor and leased to the customer. The customer has full responsibility, under the lease, for the maintenance and operation of the aircraft. The title to the aircraft can pass to the customer at the end of the lease or the aircraft can return to the lessor.
Charter The customer is delivered a service and takes no responsibility for operation and maintenance of the aircraft.

Operating new aircraft types

Airlander is a piloted aircraft which will be Type Certified to fly with one or two pilots. Type Certification is the regulator’s approval for the aircraft type – Airlander 10 – to enter service and indicates that the aircraft meets or exceeds all safety and performance requirements expected of commercial aircraft.

In order to deliver commercial services using Airlander, the aircraft must be operated by an organisation with an Air Operator’s Certificate (AOC). Because Airlander is a new aircraft type and uses lighter-than-air technologies, which are unusual for many operators, HAV will offer a range of different service models to our customers. This allows us to tailor the offering to each customer’s requirements, streamlining access to aircraft and Airlander’s entry into service.

Airlander operating options

Partner operator A customer may lease or buy an Airlander and an operator partner would then operate Airlander on behalf of the customer on the partner’s AOC. This means the operator partner would take full responsibility for the aircraft and carry out all of the necessary work to fly, operate, and maintain it according to legal requirements.
Operated by customer The operator partner can provide the pilots and training on how to operate and maintain the aircraft. This would allow the customer to get set up as an airline/operator for Airlander on their own AOC.
Turnkey solution Finally, customers can simply charter the use of Airlander, as they might with a private jet. The operation of the aircraft would be HAV’s responsibility and we would work with an operator partner to operate it under their AOC. This is a turnkey solution allowing customers to utilise Airlander with minimal operational burden.

Under both purchase and lease ownership models, Airlander can be operated by the customer under their own AOC. This is the traditional aviation model and will remain an option for HAV’s customers. In addition to this, we will also partner with AOCs in order to deliver more comprehensive operated services to our end customers.

An example of an operator partner in the UK is 2Excel Aviation, who have experience across all areas of aircraft operation and maintenance. HAV may also partner with other AOC holders around the world.

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