British Airways: New long-term lease of 4 widebodies

A British Airways jet on the taxiway
Photo Credit: PRNewsfoto/British Airways)
Alex Barrett 4 Min Read
4 Min Read

Griffin Global Asset Management have announced a new purchase and leaseback of four widebodies for British Airways.

On the 5th of September, Griffin stated that they had agreed a new purchase and leaseback arrangement with British Airways. The agreement will cover two new Boeing 787-10 and two new A350-1000 aircraft. The lease will be a long term arrangement exclusive to British Airways.

Griffin’s president comments on the new partnership with BA


Marc Baer, President of Griffin said this on the announcement: “Griffin is extremely pleased to welcome British Airways as a new customer with the deliveries of these two 787-10s and two A350-1000s.”

“Our management team has a relationship with British Airways that spans decades, and we look forward to continuing to support their growth for many years to come.”

“The A350 and B787 are core to BA’s fleet renewal program, and these four new fuel-efficient aircraft will assist the group in furthering its agenda to put sustainability at the heart of their business,”

A British Airways flight touches down in Cincinnati.
Photo Credit: PRNewsfoto/British Airways

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This is the first time British Airways have leased from Griffin. The company has offices in Dublin, Ireland, along with other countries.

Griffin Global Asset Management have a range of customers from around the world. Currently they lease aircraft to Aeromexico, Aer Lingus, TUI, flydubai, ITA and many others.

A relatively new player in the market


Griffin was established in 2020 by Ryan McKenna to serve the leasing industry. At the time Ryan said this of the new organisation’s plans:

“The airline industry continues to experience attractive long-term growth, and we see many opportunities to serve airlines globally in innovative ways.”

“We look forward to working closely with airlines, OEMs, financiers, and other lessors to deliver customized fleet solutions and deploy long-term capital in aircraft leasing.”

Close-up of a BA Euroflyer aircraft parked on the ramp.
Photo Credit: British Airways

British Airways fleet growth

British Airways currently has a total of 7 Boeing 787-10 aircraft in the fleet, with an average age of 2.8 years. Six of these existing aircraft are believed to be owned outright with only one on lease.

The airline has 16 Airbus A350-1000 aircraft, which is the only variant of the Airbus A350 that they operate. Of these 16 it’s believed that 7 of them are on a leasing arrangement.

On delivery of the aircraft leased from Griffin that would put 50% of their A350’s as leased aircraft.
The current average age of their A350-1000’s is 2.4 years, the newest of which, G-XWBP, was delivered in August 2023.

The airline hasn’t yet expanded on which routes the new aircraft will be serving. With a healthy complement of the types already it’s possible they’ll just be used to augment these.

In addition to this expansion it’s also understood that British Airways have on order two further Airbus aircraft. This is part of an IAG group, BA’s parent company, larger order.

11 Airbus A320neo and 3 Airbus A321neo aircraft were ordered in 2022. It’s expected that BA will get it’s share of this, 2 x A321 Neo’s, at some point in 2024 or 2025.

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