German turnaround specialist INTRO Aviation has outlined its restructuring plans for Corsair International (SS, Paris Orly) following its assumption of a 53% stake in the French leisure carrier.
At present, Corsair operates two A330-200s, two A330-300s, and three B747-400s on scheduled passenger flights from its Paris Orly hub to the United States, Canada, Cuba, the French Caribbean, West Africa, and the Indian Ocean islands of Reunion and Mauritius.
According to an INTRO Aviation statement, the re-fleeting plan aims to homogenize Corsair's fleet structure around the A330 thereby increasing productivity and efficiencies while reducing costs.
The first phase will see each of the three B747s replaced with two A330 Family aircraft each. To that end, three leased A330-900s will be inducted by 2021 alongside three A330ceo.
The second phase will see a further three new (unspecified) aircraft arrive between 2021 and 2023.
Overall, the Corsair fleet will grow from 7 aircraft in 2019 to 10 aircraft in 2021. By the end of 2023, it should operate 13 jets.
“Corsair is a company with a great many assets. I have full trust in its potential," Peter Oncken, Managing Director of INTRO Aviation, said. "The replacement of the B747 and the shift to a single-model fleet will be crucial for Corsair’s future. By combining the expertise of the INTRO Aviation team and the professionalism of those at Corsair, we have all of the skills required to find ways of improvement that will ensure the company’s future and development.”
The German firm also plans to retain Corsair's Orly hub given the airport's ease of accessibility and the airline's extensive slot portfolio there. With the increase in its fleet size, Corsair is also exploring new routes in addition to maintaining existing ones.
INTRO Aviation and TUI Group have also committed to staying Corsair shareholders for a minimum of three years. As of Tuesday, March 19, INTRO owns 53% of the carrier, TUI Group 27%, and the airline's workforce 20%.
