Airlines European Aviation Group acquires ten A340

The company has signed an agreement to acquire the Airbus from Abi Dhabi based carrier Etihad. European Aviation Group will buy seven A340-600 and three A340-500, which are planned to be delivered over the next months.

A first aircraft will be delivered to Bournemouth International Airport in the next weeks.

Etihad has received its first A340-500 in 2006. The carrier has stored all A340 in mid-2017 and replaced them with new aircraft. Etihad was one of the last carriers in the world operating the A340-500. Several airlines have stored the former ultra-long-haul aircraft due to high fuel consumption and operational costs. 

Airbus has ended the A340 program in 2011 when all ordered aircraft were produced. Airlines preferred new twin engine aircraft like the A330 or Boeings 777.

European Aviation Group is specialized in Aircraft Sales & Leasing as well as spare part support. It is unclear what the company plans to do with the acquired jets. In the last months the company has sold several Boeing 737-500 and one Airbus A340-300 in VIP configuration. Especially the A340-500 could be configured into VIP aircraft, as their high range allows ultra-long-haul flights.