Freighter value and lease trends January 2003

Value/lease trends

FREIGHTER VALUES (US$ millions)

New 5 years old 10 years old 20 years old

A300F4-200 A300B4-600RF 67.47 52.62

12.92

727-200F Adv 737-300QC 747-200M 747-400M 747-400F 747-400ERF 757-200PF 767-300F 148.48 157.02 39.94 54.50 30.01 97.83 112.02 68.67 21.46 17.32

2.39

12.12

DC-10-30C/F MD-11C MD-11F 55.15 63.66 44.05 52.24

16.13

Source: AVAC Note: As assessed at end Oct 2002, mid-range values for all types

FREIGHTER LEASE RATES (US$ 000s per month)

New 5 years old 10 years old 20 years old

A300F4-200 A300B4-600RF 433 385

727-200F Adv 737-300QC 747-200M 747-400M 747-400F 747-400ERF 757-200PF 767-300F 1,198 1,316 286 426 251 785 936 623 172 153

DC-10-30C/F MD-11C MD-11F 519 616 454 543

Source: AVAC Note: As assessed at end Oct 2002, mid-range values for all types

AIRCRAFT AND ASSET VALUATIONS Contact Paul Leighton at AVAC (Aircraft Value Analysis Company) • Website: www.aircraftvalues.net • Email: pleighton@aircraftvalues.net • Tel: +44 (0) 20 7477 6563 • Fax: +44 (0) 20 7477 6564