If Airbus COO customers and chief commercial officer John Leahy ever met a paying customer he didn’t like, it certainly wasn’t one of the world’s big aircraft lessors, whose strong balance sheets look all the stronger at a time soaring fuel costs eat away at profits of the world’s airlines. Lessors now account for some 16 percent of Airbus’ backlog, but during the company’s annual Technical Press Briefing held in Toulouse in May, Leahy said he’d like to see that proportion rise to between 20 and 25 percent.
“Lessors have proven to be extremely good in down cycles, helping us finance weaker airlines, airlines that have gotten into financial difficulty,” he said. “And the big lessors have balance sheets stronger than either Airbus or Boeing. So when push comes to shove and the market goes off the edge of a cliff, the lessors are usually the ones standing there, taking aircraft.”
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