The World Just Doesn’t Have Enough Planes as Travel Roars Back
- Jefferies estimates there’s an order backlog of 12,720 jets
- Shortage means fares to remain elevated for foreseeable future
The Airbus Canada LP assembly and finishing site in Mirabel, Quebec, Canada.
Photographer: Graham Hughes/BloombergThis article is for subscribers only.
As travel springs back and even China dismantles the last remaining Covid curbs, one stark truth is beginning to emerge — the world is running desperately short of planes.
With carriers from United Airlines Holdings Inc. to Air India Ltd. placing, or looking to place, jet orders that number in the hundreds, Boeing Co. and Airbus SE are crowing variously about blockbuster deals. But supply chain constraints mean those planes won’t be delivered until possibly years down the track — Jefferies LLC estimates there’s an order backlog of 12,720 aircraft currently.