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Aircraft lessors are putting their biggest planes back into service as airlines scramble to keep up with demand for global travel, The Wall Street Journal reported. Planes that had been mothballed as long-haul routes were temporarily shut down during the onset of the pandemic are especially needed.
Boeing (NYSE:BA) and Airbus (OTCPK:EADSF) are seeking new orders of bigger planes as airlines including British Airways, Deutsche Lufthansa and Qantas Airways fly their double-decker Airbus A380 jumbo jets again.
However, they’re also being cautious about ramping up production because of longer term-trends. Before the pandemic, airlines had shown a growing preference for long-range narrowbody planes, which have a single aisle. Those planes are easier to fill and provide greater fuel efficiency.
The smaller planes also were the first ones to fly as pandemic restrictions were lifted, spurring demand for domestic and short-haul trips. Airlines had kept their bigger planes parked and either canceled or deferred orders for new planes.
Boeing (BA) and Airbus (OTCPK:EADSF) are seeing a surge in orders for their bigger aircraft. Gross orders jumped 64% from a year earlier to 301 in 2022, according to data cited by the Journal.
Boeing (BA) last year received 217 orders for wide-body planes, those most since 2014. The orders include 100 of its 787 Dreamliner from United Airlines (UAL), which has an option to buy 100 more.
This year, Airbus (OTCPK:EADSF) received an order for seven A350s, including four cargo models, from Air France-KLM Group (OTCPK:AFRAF). The European carrier is seeking to replace its 747 freighters. Boeing (BA) last month delivered its final 747.
Boeing (BA) and Airbus (OTCPK:EADSF) are vying for a massive order from Air India that’s estimated to total about 500 planes. The deal is expected to include the A350, the 787 and Boeing’s (BA) 777X, which is in development, the Journal reported.
