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May 29, 2024
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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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Richard Schuurman
Active as a journalist since 1987, with a background in newspapers, magazines, and a regional news station, Richard has been covering commercial aviation on a freelance basis since late 2016. Richard is contributing to AirInsight since December 2018. He also writes for Airliner World, Aviation News, Piloot & Vliegtuig, and Luchtvaartnieuws Magazine. Twitter: @rschuur_aero.