VAS Awarded Contract to Dismantle First Two A380s
VAS selected to perform the first teardown and asset redistribution of Airbus A380 aircraft.
- Oct 18, 2018
Boca Raton, FL –
VAS selected for teardown and asset redistribution of Airbus A380 aircraft. Aftermarket contract with Dr. Peters Group includes dismantlement and sale of parts from two A380 aircraft. These are the first A380 aircraft ever to be designated for dismantlement. Aftermarket contract with Dr. Peters Group includes dismantlement and sale of parts from two A380 aircraft.
VAS Aero Services, a global leader in aviation logistics and aftermarket services, and Dortmund, Germany-based Dr. Peters Group, an investment fund management firm and lessor with assets in aviation, real estate, and shipping, announced the placement of two Airbus A380-800 aircraft with VAS for redistribution of high-market-demand A380 used, serviceable material.
These are the first A380 aircraft ever to be designated for dismantlement. Under the consignment agreement, Dr. Peters will retain ownership of the Rolls Royce engines for re-leasing, while VAS will manage the aircraft dismantlement for global sale and distribution of sought-after material.
“VAS’s capabilities in managing the teardown of sophisticated aircraft such as the A380, and their worldwide aftermarket sales network make them the ideal choice for this project,” noted Anselm Gehling, CEO of Dr. Peters Group. “The demand for A380 aftermarket material is on the rise, presenting our aviation fund investors with the opportunity to realize a significant return on these two aircraft assets. VAS’s teardown expertise and aftermarket knowledge will help speed our return on investment.”
VAS will manage the teardown of the two airframes through its partnership with Tarmac Aerosave, a leader in aircraft storage, maintenance, and recycling-based in Tarbes, France. Harvested parts will be marketed via a worldwide sales network, leveraging VAS’s strategic position as a valued spare parts supplier to OEMs, MROs, and airlines around the globe.
“VAS has earned a solid reputation as the ‘go-to’ leader in providing revenue-maximizing end-of-service, end-of-life services to lessors, airline operators and OEMs,” said Tommy Hughes, VAS Chief Executive Officer. “It’s only fitting that we should be chosen for the historic task of dismantling the very first A380 aircraft and managing the remarketing of used serviceable components.”
About Dr. Peters Group
For over 40 years, Dr. Peters Group, one of the oldest investment houses in Germany, has been designing, placing and managing alternative investment funds in the aircraft, ship, and real estate sectors. With a portfolio of 144 funds and a cumulative total investment volume of more than 7.4 billion euros and cumulative equity of around 3.6 billion euros, Dr. Peters Group is one of Germany's leading providers of real asset investments. To date, the company has been directly involved in the real economy with 88 ships, 19 aircraft, and 53 properties. The company employs 170 people in Dortmund, Hamburg, Düsseldorf, and London. To find out more please visit: www.dr-peters.de