Sky-high rents are hitting the aircraft market as Boeing jets top $300,000 a month. lesliejosephs reports.
More than 51% of the world's nearly 23,000 single- and double-aisle jetliners are owned or managed by leasing firms, according to aviation consulting firm Cirium. While many airlines do own their aircraft, some carriers choose to rent planes instead, or combine the two.
"You have the rising interest rates and higher cost of capital," said Mike Yeomans, director of valuations and consulting at IBA. "That will push lease rates higher through the rest of the year." "We're seeing a lot of lease extensions on planes that a year ago we projected that we would have to remarket," said Udvar-Hazy. That means the company doesn't have to worry about transition costs and it gives the lessor a steady stream of income.
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