As the International Air Transport Association's 737 Max remains grounded, carriers are turning to older models, particularly the the International Air Transport Association 737-800, to meet the 5% YoY increase in air travel demand seen in H1 2019, according to Boeing. Phil Seymour, CEO of the International Bureau of Aviation, said lease rates for 24 months and less had increased by 40% to $300,000 since the 737 Max was globally grounded in March following two fatal crashes.
As Boeing's 737 Max remains grounded, carriers are turning to older models, particularly the Boeing 737-800, to meet the 5% YoY increase in air travel demand seen in H1 2019, according to the International Air Transport Association. Phil Seymour, CEO of the International Bureau of Aviation, said lease rates for 24 months and less had increased by 40% to $300,000 since the 737 Max was globally grounded in March following two fatal crashes.