Airlines Struggle With Lack Of Planes Ahead Of Summer Travel Surge

The global airline industry faces a summer crunch as travel demand is projected to exceed pre pandemic levels, while aircraft deliveries plummet due to production issues at Boeing and Airbus.

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Airlines are investing heavily in maintenance to keep older, less fuel-efficient aircraft operational and are paying a premium to lease planes from lessors. Despite these efforts, some carriers are still forced to reduce their schedules due to the scarcity of available aircraft.

Meanwhile, global traveler numbers are expected to reach historic highs, with an estimated 4.7 billion individuals traveling in 2024 compared to 4.5 billion in 2019.

"We can expect a strong performance from airlines throughout the summer with some particularly high airfare," said John Grant, senior analyst at travel data firm OAG. Last December, the International Air Transport Association (IATA) had predicted a 9% annual growth in global airline capacity this year. That estimate looks optimistic following Boeing's safety crisis.