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Aircraft lease rates near pre-COVID levels for narrow-body jets

Travel recovery and production bottlenecks drive up costs for airlines

Lease rates for narrow-body aircraft like Boeing's 737 MAX 8 are around pre-pandemic levels. (Photo by Minoru Satake)

TOKYO -- Aircraft lease rates have regained altitude, led by smaller jets, as the rebound in global passenger numbers outpaces production slowed by labor shortages.

The average lease price for the narrow-body Airbus A321-200neo in early January stood 0.6% above the level of January 2020, while the smaller A320-200neo had recovered to just 2.3% below where it was at the start of the pandemic, British aviation analytics company Cirium reports.

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