Aerospace and Defense Meeting with Ascend by Cirium

GS hosted experts from Ascend by Cirium to discuss the recovery of commercial aircraft utilization, Boeing's production progress, and the impact of fuel prices and Spirit's bankruptcy on market dynamics.

Key Takeaways

• 1.Higher jet fuel prices are driving a material increase in aircraft groundings, particularly for older, less fuel-efficient current technology aircraft.
• 2.Spirit's Chapter 7 bankruptcy has grounded 172 narrowbodies, with long lead times expected for reconfigurations before they re-enter service with new lessees.
• 3.The widebody market remains robust with rising lease rates and values, while narrowbody lease rates have softened slightly over the last six months.

Table of Contents

• Impact of higher fuel prices on aircraft utilization
• Spirit bankruptcy
• Aircraft market value/lease rates
• Business jet supply and demand
• Boeing improvements
• Disclosure Appendix

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