The global airline industry is facing a summer squeeze, with travel demand expected to surpass pre-pandemic levels while aircraft deliveries drop sharply due...
CHICAGO - The global airline industry is facing a summer squeeze, with travel demand expected to surpass pre-pandemic levels while aircraft deliveries drop sharply due to production problems at Boeing and Airbus.
Passenger carriers will receive 19% fewer aircraft this year than they expected because of production issues at Boeing and Airbus, said Martha Neubauer, senior associate at AeroDynamic Advisory. As many as 650 Airbus A320neo jets could be grounded in the first half of 2024 for inspections to deal with a flaw with RTX Corp's Pratt & Whitney engines, RTX said last year.
Airlines are spending 30% more on aircraft leases than before the pandemic, said John Heimlich, chief economist at Airlines for America that represents major U.S. carriers. Fewer Americans are planning to travel on a plane this summer compared with a year ago due to high inflation, a survey by travel website the Vacationer showed. Airline fares are down year-on-year, but have been rising month-on-month.Second mate Bryan Boyle provides insight into the everyday life of cargo ship crew members as they spend holidays at sea.
Airline Industry Lessors Global Airline Travel Demand
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