Airlines Face Turbulence as Boeing and Airbus Struggle to Keep Up

The skies are turbulent as airlines grapple with a shortage of planes just as summer travel demand soars. Boeing and Airbus production problems are causing a squeeze in aircraft deliveries, forcing carriers to scramble to keep up with the surge in passengers. The global airline industry is facing a summer squeeze, with travel demand expected to surpass pre-pandemic levels while aircraft deliveries drop sharply due to production problems at Boeing and Airbus. Airlines are spending billions on repairs to keep flying older, less fuel-efficient jets, and paying a premium to secure aircraft from lessors. But some carriers are still being forced to trim their schedules to cope with the lack of available planes. The number of travelers globally is set to hit historic levels, with 4.7 billion people expected to travel in 2024 compared with 4.5 billion in 2019. Analysts predict a bumpy ride ahead for airlines as they struggle to navigate the shortage of new planes and rising costs. The aircraft leasing market is booming, with lease rates hitting record highs. Repair costs are on the rise, squeezing profit margins despite high demand. As airlines grapple with these challenges, passengers may find themselves paying more for their summer vacations as ticket prices climb. With Boeing and Airbus both facing setbacks, the cost of air travel is set to soar, leaving travelers feeling the pinch.