ALC: 737 MAX grounding has resulted in 'surge in single-aisle demand' and higher lease rates

Air Lease Corporation (ALC) president and CEO John L Plueger reported (10-May-2019) the global grounding of the Boeing 737 MAX has "caused a surge in single-aisle demand to cover the temporary cessation of MAX deliveries, and that demand has generally increased lease rates, particularly on the 737-800s". Mr Plueger noted the lessor's customers "do need these aircraft badly, and we're working closely with them on alternative lift, including extending current leases where we can". ALC has 15 MAXs in its portfolio, across six airline leases, out of its total portfolio of 280 aircraft. Prior to the grounding, ALC was scheduled to take 28 more MAX aircraft by the end of 2019, including two in 1Q2019. Mr Plueger said ALC does not know and will not speculate on when the grounding will be lifted nor when customer deliveries will recommence. [more - original PR]