Airbus predicts doubling of global fleet by 2043
July 16, 2024
Airbus has projected that the number of aircraft in service globally will hit 48,230 in 2043, representing a near-doubling from the 24,240 in operation at the start of 2024. Last year, the European airframer forecast that by 2042, the global fleet of 100-plus-seat passenger aircraft and freighters would total 46,560. Demand for newly delivered aircraft in the period will be 42,430 across the period to 2043 – around 80% of them narrowbodies – which compares with a 20-year forecast of 40,850 last year. The remainder will be aircraft that have already been delivered and will still be in service. Included in its projections is a subtle shift toward widebodies, although single-aisles will remain dominant. Of the new aircraft demand to 2043, Airbus now expects that 33,510 will be single-aisle and 8,920 widebodies, which equates to increases on last year of 2.6% and 8.9%, respectively. The projections are based on route-and-flow analysis which, Airbus head of business analysis and market forecasts Bob Lange says, "gives us a view on whether a route is likely to be operated by a widebody or single-aisle, or in the cusp between the two". With widebodies being used on short- as well as long-haul routes, he adds, "more widebodies [are] coming up in that mix, and from that point we see that balance tipping that way. "It doesn't mean that it's cast in stone, and it's something we can see consolidating in regions. Some [widebody demand] may go towards the [A321]XLR – we don't know, it's not in service yet." The airframer projects that orders will begin to shift geographically, reflecting the speed at which different regions emerged from the pandemic and airlines have been able to re-establish themselves financially. "For an airline to order aircraft, they need to have their balance sheet in good shape," notes Lange. "One of the things we've seen is the US came out [of Covid] fastest, and US airlines returned to profit fastest, and we've seen a lot of aircraft orders from the US. As we look at the order potential for the future, let's look more at the parts of the world that are still recovering, that haven't been as profitable, and that haven't taken their re-fleeting decisions." The need to replace older aircraft is a key demand driver, which, Airbus asserts, is the most efficient way to drive environmental and economic performance. The latest aircraft generation now account for around 30% of the global fleet, and the short-term priority for decarbonisation "includes to replace the remaining 70%". Baked into Airbus's projections are an ongoing spurt in air passenger demand as airlines continue to recover from the pandemic. The manufacturer believes that over the next three years demand will rise on average by around 8.4%, as measured by RPKs, amounting to a "short-term strong recovery". After that, passenger demand will slow to an average of 3.6% until 2043, led by demand from China and India, which will have the effect of "further shifting aviation's centre of gravity towards Asia". Passenger demand is in turn underpinned by the expansion of the global economy, led by a growing middle class and improved infrastructure, particularly in Asia. "People want and need to fly. Aviation connects people, is a catalyst for trade, enables commerce, and supports communities," states Airbus.
Copa finances its first Max 8
July 16, 2024
Copa Airlines has financed its first Boeing 737 Max 8. Luis Ricardo Hou, Copa's treasury aircraft financing and risk management co-ordinator, says in a LinkedIn post that the Panamanian carrier received its first Max 8 (registration HP-9801) from Seattle on 8 July. In a separate LinkedIn post, Panama-based law firm Arias Fabrega & Fabrega says it successfully represented Yamasa Sangyo Aircraft CMP1 as the lessor and BNP Paribas as security agent in the narrowbody's delivery. Yamasa Sangyo is a Japanese company involved in mobilising local equity for aircraft financing transactions. Fleets data shows that Copa has six Max 8s and 15 Max 10s on order. Thirty-two Max 9s and one Max 8 are in service with the airline.
DB Schenker joins Cathay's effort to reduce aviation emissions
July 15, 2024
DB Schenker has joined Cathay Pacific's corporate sustainable aviation fuel (SAF) programme by agreeing to purchase 878t of SAF for use on Cathay Pacific and Cathay Cargo flights. The carrier says the commitment is expected to reduce CO2 emissions by more than 2,600t. The SAF used in this arrangement is derived from waste cooking oil and animal fats, which can reduce greenhouse gas emissions by over 80% compared to conventional jet fuel. Cathay's director of cargo Tom Owen states: "We are delighted to welcome DB Schenker as the newest member of the Cathay Corporate SAF Programme – and the biggest contributor to date. It is great to have this level of support from such an important player in the air cargo industry to work with us in decarbonising aviation." The airline has been working with various fuel supplier partners to uplift SAF at its Hong Kong hub and other network ports.