Aircraft demand surges as post-pandemic flight demand increases
31-12-23
The two leading manufacturers in the airline industry are outpaced by demand that has soared to very high levels. Three European airlines buy 677 aircraft as a result of their plans to grow and expand their operations.
The Lufthansa Group will modernize its short- and medium-haul fleet with 80 new, state-of-the-art aircraft and agrees on a further 120 purchase options with deliveries scheduled from 2026 to 2032, marking the largest fleet modernization in the company's history. The new ultra-modern aircraft offer greater passenger comfort, are quieter, more economical, more efficient and emit up to 30% less CO₂ than their predecessor models. Another order list of around 200 aircraft was increased to 280, plus an additional 120 purchase options for more state-of-the-art short- and medium-haul aircraft.
Another carrier, EasyJet, confirmed an order for 157 additional A320neo aircraft, plus 100 purchase rights. The company will also convert 35 existing A320neo deliveries to A321neo aircraft. Fifty-six A320neo and 101 A321neo aircraft will be delivered between fiscal years 2029 and 2034, while 35 A320neo aircraft already on order will be converted to larger A321neo aircraft. With this, the British low cost carrier completes its fleet replacement program of older A319 aircraft and replaces approximately half of the A320ceo aircraft, providing the basis for disciplined growth and bringing cost improvements and sustainability to the business.
Turkish Airlines, on the other hand, will acquire 355 latest-generation Airbus aircraft in line with its fleet expansion schedule. This major order comprises 250 of the best-selling A321s and 105 of the highly efficient A350 widebody aircraft, including 60 firm orders, 20 A350-900s with right of purchase, 15 A350-1000s with firm order and 5 A350-Freighters with firm order and 5 with right of purchase.
This strategic acquisition underscores Turkish Airlines' commitment to improve its operational efficiency, environmental management and passenger comfort. The addition of these next-generation aircraft aligns with the flag carrier's vision to continue to lead the aviation industry while supporting sustainable growth.
Aircraft production is lagging behind demand due to a combination of factors: the increase in air traffic following the pandemic, the creation of new airlines, the addition of demand from emerging countries such as India, and the need for airlines to renew their fleets. It is estimated that 25%a of the world fleet will need to be renewed in the next decade.
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