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AerCap CEO questions durability of jetmakers' output plans
February 21, 2017 / 1:40 PM / 10 months ago

AerCap CEO questions durability of jetmakers' output plans

PARIS, Feb 21 (Reuters) - The head of aircraft leasing giant AerCap expressed confidence in overall airline demand despite a recent slowdown in the aerospace cycle on Tuesday, but questioned the durability of plans by Airbus and Boeing for increases in airplane output.

Speaking after reporting stronger than expected fourth quarter earnings per share, chief executive Aengus Kelly said he expected Airbus and Boeing would follow through on plans to lift narrowbody production to around 60 jets a month, but doubted this could be sustained “for a long period of time”.

Boeing plans to increase production of its 737 family to 57 aircraft a month in 2019, while Airbus aims to increase production of its competing A320 family to 60 a month in mid-2019.

Kelly also told reporters he continued to expect delays of “several months” in deliveries of Airbus A320neo jets to be supplied with delayed engines from Pratt & Whitney.

AerCap plans to take a total of 67 new aircraft in 2017, including all types, and all of them have been placed with airlines in a sign that aircraft demand remains solid, he said. (Reporting by Tim Hepher; Editing by Sudip Kar-Gupta)

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