The Company closed the quarter with an operational fleet of 141 Boeing 737-700 and 800 NG aircraft (another six of these aircraft were in the process of being returned to their lessors), with an average age of 7.2 years. The total 1Q14 fleet comprised 155 aircraft (including B737-300s and B767s).
|Period End Fleet||1Q14||1Q13||Var.||4Q13||Var.|
|Boeing 737-NG Family||147||131||16||141||6|
* Non-operational aircraft.
The Company leases its fleet through a combination of finance and operating leases. Of the total number of B737-NG and B767-300 aircraft, 102 were under operating leases and 46 under finance leases. Of the 46 under finance leases, 40 have a purchase option when their leasing contracts terminate.
In 1Q14, the Company took delivery of six aircraft under operating lease contracts. It also has six non-operational Boeing 737-NG’s in the process of being returned.
On March 31, 2014, the Company had 133 firm aircraft acquisition orders with Boeing, totaling around R$34.1 billion, excluding contractual discounts.
|Aircraft Commitments (R$ million)||2014||2015||2016||>2016||Total|
* Considers the list price of the aircraft
Also on March 31, of the commitments mentioned above, the Company had obligations of R$4.6 billion in pre-delivery deposits, which will be disbursed as per the table below:
|Pre-Delivery Payments (R$ million)||2014||2015||2016||>2016||Total|
The portion financed through long-term loans with the U.S. Ex-Im Bank, guaranteed by aircraft, accounted for around 85% of the total aircraft cost. Other agents finance the acquisitions with equal or higher percentages, reaching up to 100%.
The Company has been paying for the aircraft acquisitions with its own resources, loans, cash flow from operations, short and long-term credit lines and financing by the supplier.
|Fleet Plan - End of Period||2014||2015||2016|
|Boeing 737-NG Family||137||140||140|