AerCap has seen continued strong demand for lease extensions of current-generation aircraft as deliveries of new-technology aircraft are delayed by supply chain issues. Eighty percent of the 134 lease agreements signed in Q3 have been for extensions.
According to CEO Aengus Kelly, this is “one of the highest extension rates we’ve ever seen. Remarkably, this was even higher on the widebody side, hitting over ninety percent. This reflects the ongoing shortage of aircraft.” Widebody leases are extended for three to up to eight years and sometimes even longer to double-digit years.
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