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New Value Progression of B767-300ER Show How Far Values Can Fall

March 4, 2019

Whatever the current enthusiasm for used B767-300ERs, there can be no disguising just how far values of new B767-300ERs fell in the final years of the program.

The first B767-300ER was introduced in 1988 and such was its range and capacity that orders multiplied. The initial rise in new pricing was still in an era when inflation was high and when the manufacturers were still able to secure near pricing at near list prices. The initial -300ERs attracted a value of just over $70 million but the last 1980s saw a rapid growth in demand for international air travel that generated a shortage. Both the MD11 and B747-400 saw delays but it was the twin engined economics of the B767-300ER that boosted interested in a market that hitherto had to rely in tri or quad configured jets. Even with the first Gulf War in the 1990s, values of new B767-300ERs continued to rise because they were increasingly used to replace older DC10s and B747-200s. In the latter part of the 1990s, the demand for the -300ER was at its peak and the value of a new -300ER rose to peak at $85 million.

However, the events of 2001 took their toll on the B767-300ER as did the arrival of the A330 and B777 in greater numbers. The value of a new -300ER tumbled but with a surge in demand there was a slight improvement. The cessation of production was beginning to be anticipated even as Boeing continued to deliver freighter versions and the value of new -300ERs fell once more. The issue of value convergence is evident with the last of the line even if customers were still paying in excess of these amounts.

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