Lower gas prices? Take your 747 out of the garage

If the price of gas keeps falling, it may be time to get that old moth-balled 747 out of the garage.

Aircraft such as the four-engined Airbus A340 or earlier models of the Boeing 747 which have been sentenced to desert storage or to be dismantled, are winning a stay of execution because lower oil prices make them economic for some carriers.
“We are seeing a big pick-up in demand for aircraft we thought we would scrap,” Aengus Kelly, chief executive of AerCap, told the Airline Economics conference in Dublin.
AerCap, the world’s largest independent leasing company, has recently leased out older passenger aircraft and freighters such as Airbus A340s, Boeing 747s and 757s, rather than sending them to be dismantled, he said.
Others said some airlines were retrieving mothballed Boeing 747s from desert storage to get them flying again.


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