Airlines struggle with lack of planes as summer travel set to hit record levels
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. Air carriers are spending billions on repairs to keep flying older, less fuel-efficient jets, and paying a premium to secure aircraft from lessors. But some carriers are still being forced to trim their schedules to cope with the lack of available planes. At the same time, the number of travelers globally is set to hit historic levels, with 4.7b people expected to travel in 2024 compared with 4.5b in 2019. "We can expect a strong performance from airlines throughout the summer with some particularly high airfare," said John Grant, senior analyst at travel data firm OAG. Last December, the IATA had predicted a 9% annual growth in global airline capacity this year. That estimate looks optimistic following Boeing's safety crisis. 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. U.S. carriers will receive 32% fewer aircraft than planned a year ago because several airlines depend on Boeing's 737 MAX planes, Neubauer said. Boeing's production has been curbed after a January mid-air panel blowout. Boeing is reeling from a sprawling crisis that erupted after the Jan. 5 Alaska Airlines blowout. Regulators have put a cap on production of the 737 MAX, but the company is not hitting even that level.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2024-04-10/general/airlines-struggle-with-lack-of-planes-as-summer-travel-set-to-hit-record-levels
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Airlines struggle with lack of planes as summer travel set to hit record levels
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. Air carriers are spending billions on repairs to keep flying older, less fuel-efficient jets, and paying a premium to secure aircraft from lessors. But some carriers are still being forced to trim their schedules to cope with the lack of available planes. At the same time, the number of travelers globally is set to hit historic levels, with 4.7b people expected to travel in 2024 compared with 4.5b in 2019. "We can expect a strong performance from airlines throughout the summer with some particularly high airfare," said John Grant, senior analyst at travel data firm OAG. Last December, the IATA had predicted a 9% annual growth in global airline capacity this year. That estimate looks optimistic following Boeing's safety crisis. 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. U.S. carriers will receive 32% fewer aircraft than planned a year ago because several airlines depend on Boeing's 737 MAX planes, Neubauer said. Boeing's production has been curbed after a January mid-air panel blowout. Boeing is reeling from a sprawling crisis that erupted after the Jan. 5 Alaska Airlines blowout. Regulators have put a cap on production of the 737 MAX, but the company is not hitting even that level.<br/>
