Supporting the European bounce back

The European commercial aviation industry has rebounded faster than expected following the pandemic, with particularly strong recovery seen in the regional market.

This return to health is underlined by the European Travel Commission (ETC), which has predicted international tourist arrivals to Europe will surpass 2019 levels in 2024, a year earlier than previously forecast.

For major airlines, there’s a challenge in meeting this increased demand at a time when certain narrowbody models are contending with well-publicized Pratt & Whitney GTF engine problems, and globally, narrowbody inventory remains scarce.

The result is a growing trend towards European airlines turning to regional aircraft and seeking longer leases to source the capacity they need.

The regional and turboprop opportunity                                           

At Jetcraft Commercial, travel demand is driving the speed at which we need to procure aircraft for airlines across Europe.

While narrowbodies traditionally dominate in the region, right now we’re also responding to a significant push for regional and turboprop aircraft, including De Havilland Canada Dash 8-400s, which are becoming popular in southern Europe due to their economic benefits.

Alongside the cost savings, the focus on alternative aircraft types is a response to the limited supply of narrowbodies, prompting airlines to consider other options to quickly meet demand from passengers.

The traffic from Europe is not all incoming however, with the region also proving a fertile source of aircraft for startup airlines in Africa, Asia and beyond. In recent years, we’ve supported clients in Europe that are looking to transition their fleets including HOP! Air France, placing the airline’s former CRJ1000s with customers across the globe.

Long-term view

Covid-19 changed much about aviation, and among European airlines we’ve also seen a shift in purchase agreement terms, with carriers increasingly seeking solutions for the long-term.

Prior to the pandemic and the engine challenges affecting parts of the narrowbody fleet, airlines would turn to regional aircraft to supplement their fleet on a seasonal basis.

Now, we’re seeing fleet managers interested in securing regional aircraft on an annual basis, striking deals that offer better financial returns and meet their need for increased capacity year-round.

Procuring global assets

 At Jetcraft Commercial, we’re making use of our unique global vantage point to support airlines responding to these trends.

This includes harnessing our expertise when procuring assets in other parts of the world, before remarketing and redeploying these aircraft throughout Europe.

It’s through our global footprint that we have total visibility of the market and can convert assets sourced elsewhere into European configured aircraft, delivering genuine value to major airlines.

At a time when operators across Europe are contending with the combined pressures of booming travel demand, narrowbody technical challenges and geopolitical disruption, our international insight is proving key to realizing the full potential of commercial aviation’s recovery.

To find out more about how Jetcraft Commercial can support the success of your airline, visit: jetcraftcommercial.com.