Oil price fall gives new lease of life to old aircraft

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The world’s aircraft boneyards – well, mostly they are in the US – may become less populated over the coming months if oil prices continue at their rock bottom rate. While logic dictates that a carrier would make more money from a fuel-efficient aircraft no matter what the oil price, aircraft lessors have leased out “older freighters such as Boeing 747s rather than sending them to be dismantled”, according to delegates at the AirFinance Journal conference being held in Dublin, as the “50% drop in oil prices has also made it easier for airlines that cannot afford new fleets, or those that face long waits for new jets”.