The airline industry achieved a significant post-pandemic milestone by not only fully recovering passenger traffic levels but exceeding pre-pandemic figures by 5.7%.
Europe has seen an even faster rebound in its commercial aviation sector. Airlines such as Air Baltic, Aegean, and Ryanair have expanded their fleets, with notable orders including additional A220-300s, A321neos, and 737 MAX aircraft, respectively.
However, major airlines face a challenge in meeting this heightened demand amidst ongoing issues with Pratt & Whitney GTF engines affecting narrowbody models and a globally scarce inventory of these aircraft.
To address fleet shortages, airlines are increasingly turning to regional aircraft and longer lease terms. The pandemic’s long-term effects have contributed to a 7.4% decrease in new aircraft deliveries compared to 2023, with some original equipment manufacturer (OEM) backlogs extending to 2030. This, combined with a surge in travel demand and evolving market conditions in Europe, is driving airlines to consider pre-owned aircraft and extend the service life of existing fleets to maintain schedule reliability.
At Jetcraft Commercial, we are witnessing a growing demand for regional and turboprop aircraft, such as the De Havilland Canada Dash 8-400 and the ATR 72 series, particularly in southern Europe. The economic advantages of these aircraft, alongside the narrowbody shortage, are leading airlines to explore these options more thoroughly.
The global regional jet market, valued at USD 12.62 billion in 2023, is expected to expand to USD 19.58 billion by 2032, underscoring the increasing reliance on pre-owned aircraft to meet the surging travel demands.
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