The civil aviation market recovers and pushes the lease price of the aircraft price.

Recently, some media quoted IBA data from the aviation industry consulting company that from April 2020 to July this year, the rent of a new Boeing (BA) 737 MAX rose by more than 20%, reaching $ 316,000 a month. EadSY A320NEO climbed to $ 324,000 per month, an increase of more than 14%from April 2020; a larger A321NEO, the rent price in July this year was $ 375,000 per month.

"The changes in aircraft leasing prices are determined by supply and demand relationships." Industry insiders who are unknown told the Securities Daily reporter that with the recovery of the global civil aviation market, insufficient supply of suppliers and components has become a common problem facing aircraft manufacturers facing aircraft manufacturers. It affects the output of the new aircraft.

"I did not feel the impact as a whole." Talking about the rising price of the aircraft, many listed airlines told the Securities Daily reporter.

Increasing aircraft rental price

The heating of market demand and the problem of aircraft production and supply chain issues jointly pushed the leasing price of the aircraft.

The recovery of the travel market is an important promoter to promote the upward price of aircraft leasing. From the perspective of the domestic market, the latest data disclosed by the Civil Aviation Administration shows that in July this year, civil aviation transportation production continued to restore the situation. The industry's total transportation volume was 6.80 billion tons of kilometers, an increase of 27.5%month -on -month; After the rise, the number of passenger transportation was 33.996 million, an increase of 54.5%month -on -month.

According to the data of where to go, in July of this year, the long -term swimming degree has increased, and hotel reservations in many tourist cities such as Lijiang, Yantai, Qingdao, and Qingdao exceeded the first half of this year.

From the perspective of the international market, according to the statistics and predictions of the International Aviation Transport Association (IATA), the total global passenger transport in 2022 will be resumed to 83%of the level of 2019, and will rise to 94%in 2023. In 2024, the total passenger transport will reach 4 billion people will exceed the level before the epidemic.

The supply of supply is also promoting the upward price of aircraft. In June this year, Boeing CEO David Calhoun said that due to the shortage of labor's labor and demand recovery speed, the supply chain issue may last until the end of 2023. Fu Li, CEO of Airbus, also recently said that the shortage of labor and raw materials has constituted a major challenge to the improvement of the company's production capacity.

Talking about the supply chain of the aircraft manufacturer, Zhao Xin, CFO of Zhongguancun Eugu, told the Securities Daily that during the epidemic, the global civil aviation industry suffered a significant impact. Temporary shutdown, which caused the aircraft manufacturing supply chain to fail to recover and meet market demand under the condition of warming the industry.

"In the early days of the epidemic, in order to cope with the changes in the demand for a sudden decline in demand, major companies have adopted the strategy of layoffs, retired planes or accelerating the elimination of old aircraft. The rise in the corresponding aircraft rental price is an inevitable result. " Zou Jianjun, a professor at the School of Civil Aviation Management Cadres, told the Securities Daily that from the long run, the price of aircraft leases will not continue for too long, and will gradually return with the growth of the new aircraft.

Listed airlines affect the influence

Leasing is an important way for aircraft to introduce aircraft. "Securities Daily" reporter found that in 2021, China Air China introduced a total of 43 aircraft, including 4 A350, 23 A320NEO, 11 A321NEO, 4 ARJ21-700 and 1 official aircraft. Among them, the financial leasing introduced 29 aircraft, and 14 aircraft were introduced.

According to the announcement of China China Eastern Airlines, as of the end of 2021, the company's passenger planes had a total of 752, of which 274 of the financial leasing passenger planes were; 217 passenger aircraft were operated. As of the end of 2021, there were 878 airliner and cargo aircraft in Southern Airlines; including 255 financial leasing aircraft; and 306 passenger aircraft.

According to a reporter from various interviews, the rise in lease prices of some models has not affected the overall performance of listed airlines. There is an unknown listed airline practitioner told the Securities Daily that the rents of the aircraft mainly depends on the model of the model itself and the number of aircraft sources on the market. Price increases will occur under limits, but the fluctuations in the price of some models will not affect the overall cost of listed airlines.

"The rise in aircraft lease prices reflects the comprehensive recovery of the foreign civil aviation market. The strong demands of airlines on the growth of capacity is a direct manifestation of changes in supply and demand." Gao Peng, a civil aviation industry, told the Securities Daily reporter.

Gao Peng believes that although the leasing costs of some models have been adjusted, the rise in air ticket prices can make up for the space for the rise in aircraft leasing prices. On the whole, the price increase of the lease price of some models may bring a slight increase in the lease fee in the financial report data of the listed airline company, but it has no adverse effect on the company's performance as a whole.

Reporter Li Qiaoyu

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