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.