Aircraft Value Analysis: Boeing 777-300ER

The Boeing 777-300ER is one of the most successful wide-body aircraft made, with 838 net orders for this model since its rollout in 2002, and 827 delivered as of June 2021.

The 777-300ER (“ER” for Extended Range) is the improved version of the 777-300. Its higher MTOW and increased fuel capacity permits a maximum range of 7,370 nautical miles (13,650 km) with 396 passengers in a two-class seating arrangement. The 777-300ER features a wing with raked and extended wingtips developed for the 777-200LR, a strengthened fuselage and wings and a modified main landing gear. It is powered by the GE90-115B turbofan, the world’s most powerful jet engine.

At its peak, a new 777-300ER was valued at US$150 million but, how much is it worth in 2021?

Like many widebody aircraft, the 777-300ER has suffered from the COVID-19 pandemic. According to ch-aviation’s database, currently, there are 655 777-300ER active worldwide, operating with 41 airlines. Meanwhile, 167 aircraft from 27 carriers are registered as inactive at the moment. Finally, only three worldwide have been scrapped.

Emirates is the model biggest operator, with 124 aircraft. Of these total, 118 are active and six inactive. Cathay Pacific and Qatar Airways both have 48, while Air France has 43.

Production of the 777-300ER is ending ad the roll-out of the prototype 777X, a 777-9 model, occurred on March 13, 2019. According to Boeing’s website, the company still has to deliver 11 777-300ERs. The Russian carrier Aeroflot will receive two; Pakistan International Airline will receive five; while the lessor BOC Aviation Limited will have three more aircraft of this model. There’s one unidentified customer with one plane on order.

What is the current value of the 777-300ER?

In 2019, the unit cost was 777-300ER: US$375.5 million, the 777-200ER: US$306.6 million, the 777-200LR: US$346.9 million, and the 777-200LRF Cargo US$352.3 million.

The launch by GECAS and Israel Aerospace Industries of a cargo conversion program for the Boeing 777-300ER provides a potentially sizeable secondary market opportunity for the large fleet currently operating in the passenger sector. Designated 777-300ER Special Freighter (SF), this is the first after-market cargo modification launched for the 777 family, with certification and service-entry scheduled for late 2022. GE Aviation with its GE90-115B is sole powerplant supplier for this version.

The converted 777-300ER aircraft has a maximum payload of 224,000 lb (101.6 t), a range of 4,500 nmi (8,300 km) and shares the door aperture and aft position of the 777-200LRF. It has a cargo volume capacity of 28,900 cu ft (819 m³), 5,800 cb ft (164 m³) greater than the 777F (or 25% more) and can hold 47 standard pallet positions, 10 more positions than a 777-200LRF or eight more than a 747-400F

The first 777-300ER ever delivered to Air France, registration is F-GSQA, is 17.59 years old. Its current market value is US$30.1 million, according to ch-aviation and Collateral Verifications LLC.

Qatar Airways has several 777-300ER, one registered as A7-BAA, and is 13.76 years old. Qatar received it in November 2007, and it is expected to retire in 2023. Its current market value is nearly US$39 million, according to ch-aviation and Collateral Verifications LLC.

The value of a 777-300ER delivered in the last two years. British Airways received the G-STBM aircraft in October 2020, it is less than a year old and its current market value is US$99.5 million, according to ch-aviation and Collateral Verifications LLC.

It is difficult to pinpoint a standard price for a Boeing 777-300ER aircraft at the moment. The value of an aircraft goes down with age, but as we’ve established, it peaked at US$150 million. Flight global estimates the value of a 777-300ER in half-life condition is between $35.7 million and $52.6 million. Therefore, we can say that the value of the Boeing 777-300ER ranges from US$30 million to US$99 million.