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Aircraft lessors are putting their biggest planes back into service as airlines struggle to meet demand for global travel, The Wall Street Journal reported. Aircraft that had been suspended as long-haul routes were temporarily closed during the start of the pandemic are especially necessary.
Boeing (New York Stock Exchange: BA) and Airbus (OTCPK:EADSF) are seeking new orders for larger aircraft, as airlines such as British Airways, Deutsche Lufthansa and Qantas Airways return to flying their double-decker Airbus A380 jumbo jets.
However, aircraft manufacturers are also cautious about increasing production due to longer-term trends. Before the pandemic, airlines had shown a growing preference for long-range narrow-body planes, which have a single aisle. Those planes are easier to fill and provide better fuel efficiency.
Smaller planes were also the first to fly as pandemic restrictions were lifted and demand for short-haul and domestic travel boosted. Airlines kept their biggest planes parked and canceled or postponed orders for new planes.
Boeing (BA) and Airbus (OTCPK:EADSF) have in the past year seen an increase in orders for their largest aircraft. Gross orders rose 64% from a year earlier to 301 in 2022, according to data cited by the Journal.
Boeing (BA) received 217 wide-body jet orders last year, the most since 2014. The orders include 100 of its 787 Dreamliners from United Airlines (UAL), which has an option to buy 100 more.
Earlier this year, Airbus (OTCPK:EADSF) received an order for seven A350s, including four freighter models, from Air France-KLM Group (OTCPK:AFRAF). The European airline is looking to replace its 747 freighters. Boeing (BA) delivered its last 747 last month.
Boeing (BA) and Airbus (OTCPK:EADSF) are vying for a massive order from Air India estimated to total around 500 aircraft. The deal is expected to include Boeing’s (BA) A350, 787 and 777X, which is in development, the Journal reported.
