(Reuters) – Air Lease Corp on Thursday reported lower quarterly revenue as lessors wrestle with delays in taking deliveries of commercial jets from planemakers Boeing and Airbus despite strong travel demand.
Aircraft lessors are benefitting from high rental revenue as airlines look for aircraft which are in short supply due to supply chain problems, along with slumping production of Boeing’s 737 MAX and Pratt & Whitney GTF engine snags.
Delays in deliveries from major aircraft manufacturers are in some cases getting worse, Air Lease’s executive chairman warned last month.
Its revenue in the fourth quarter fell 3.7% to $712.9 million.
(Reporting By Allison Lampert in Montreal and Nathan Gomes in Bengaluru; Editing by Anil D’Silva)
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