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Sunday, January 29, 2023

Lufthansa pushes fleet modernisation with leases for four A350 aircraft

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Lufthansa (LHAB) (LHA) is leasing four more A350-900 planes as part of its fleet modernization and replacement of aging four-engine jets.

The leases were signed with Avolon, SMBC Aviation Capital, and Goshawk on October 4, 2021, the German airline reported.

The four aircraft will enter service in the first half of 2022, giving Lufthansa (LHAB) (LHA) a fleet of 21 A350s at the start of 2022.

Lufthansa (LHAB) (LHA) has increased the amount of aircraft it leases in order to capitalize on cheap leasing rates as a result of the COVID-19 epidemic.

“The lease agreements allow us to stay flexible in fleet planning and capitalize on extraordinary market prospects,” said executive board member Detlef Kayser in a statement.

The A350s will be used to replace the four-engined A340s. Lufthansa (LHAB) (LHA), which is also retiring the A380 and Boeing 747 from its fleet, anticipates that the number of four-engined aircraft in its long-haul fleet will fall to 15% by 2025, down from roughly 50% before the pandemic.

Lufthansa (LHAB) (LHA) will receive a total of 177 aircraft, both short- and long-haul, as part of the fleet modernization project by 2030.

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