Used jets rents surge 44% as airlines pay up to buoy fleets
The decade-old planes are experiencing an unexpected surge in popularity at an age when monthly rents and resale prices usually decline. The workhorse aircraft still dominate many airlines’ single-aisle fleets, even as newer 737 Max and A320neo versions enter service.
Airlines are starved for planes, partly owing to supply-chain kinks still rippling through from the Covid-19 pandemic.
These continue to hold back new-aircraft production, while an even more disruptive issue with popular Pratt & Whitney engines requires time-consuming rework — sidelining younger A320s and worsening repair-shop backups across the globe.
Aviation consultancy Cirium Ascend estimates that only around a dozen midlife Boeing 737NGs are available for rent anywhere on the planet.
For Airbus A320ceos, the figure is under 25. There are even fewer younger jets available — about 25 across the 737 and A320 families.
Carriers like Deutsche Lufthansa AG and Ryanair Holdings Plc are holding onto older aircraft to fill the gap, further tightening supplies.
On Thursday, Alaska Air Group Inc. said that American Airlines Group Inc.
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