Aircraft leasing in equilibrium at just over half the world fleet

According to the CAPA - Centre for Aviation Fleet Database, 53% of commercial aircraft are leased.

This is slightly below the level before the COVID pandemic, but lessors' share of the global fleet has been fairly stable for a number of years. The share is higher in Europe and lower in North America.

Lessors' share of orders is 23%, much lower than their share of leased aircraft in current fleet. The difference is explained by sale and leaseback, where aircraft that are ordered by airlines end up being owned by leasing companies - particularly for narrowbodies.

Leasing offers considerable benefits to airlines, such as availability of aircraft, fleet flexibility, residual value risk management and access to capital.

Nevertheless, at just over half of the world's commercial aircraft, leasing's share of the global fleet may have found an equilibrium.