Bloomberg reported that the aircraft intended to replace jumbo jets like the Boeing 747 and Airbus’s A380 are feeling the pinch brought on by the drop in jet fuel which is down by 40% from 2014.
As a consequence, Bloomberg noted in recent weeks major airlines such as United and Cathay Pacific have cancelled orders for the Airbus A350-1000 with Boeing’s 777X also feeling the impact of lower fuel prices.
Bloomberg quoted Air Lease Chairman Steven Udvar-Hazy as saying, “We’re seeing sluggish demand for the biggest planes, so we’re staying away from that segment of the market.”
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