The scramble for leased jets will show up in air fares soon
through 2026, with as many as 650 aircraft sitting idle in the first half of 2024. Over 40 airlines and lessors globally, including IndiGo, have been impacted by Pratt & Whitney’s engine issues.
This has led to a situation where the total number of flights declined in January by 2.3%, as per data from Airports Authority of India. The capacity crunch has already sparked higher fares in India, with domestic air fares for the upcoming summer season higher by up to 30%.
The unpredictable leasing market and persistent supply chain issues are also destabilizing network planning. “It is incredible that major airlines across Europe do not have a clear picture of what they are going to fly, what aircraft are going to be delivered, what assets will be available, nearly eight weeks before summer season...and that ripples with all planning, rostering, staff recruit," John Grant, chief analyst, aviation consultancy firm OAG said.
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