Japan's Orix to spend $1bn to buy more than 50 planes for leasing

Higher fees boost business as aircraft production fails to keep up with demand

20240817N Airbus

Rising fees are providing tailwinds to Orix's aircraft leasing business.  © Reuters

NATSUMI IWATA, Nikkei staff writer

TOKYO -- Financial service group Orix will invest more than 150 billion yen ($1 billion) to expand its fleet of aircraft for leasing operations, seeking to tap growing demand for planes amid a recovery in global travel.

The company will purchase more than 50 aircraft, mostly small and mid-sized used planes, over the next three years to double the fleet to over 100. 

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