AerCap CEO sees shortage of new aircraft lasting years
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DUBLIN, July 31 (Reuters) - The head of the world's largest aircraft lessor AerCap expects a shortage of new aircraft to last for several years, meaning airlines will be flying old planes for longer.
"We believe this supply demand imbalance will last for several years into the future," Chief Executive Officer Aengus Kelly told an analysts' call, citing engine bottlenecks that will take years to fix.
"I also don't believe a scenario in which passenger yields soften due to a mild European or U.S. recession would derail this (supply-demand) dynamic as the positive momentum from Asia emerging out of COVID restrictions is getting underway." (Reporting by Padraic Halpin and Tim Hepher; editing by David Evans)
