Companies that lease aircraft to airlines have in some cases begun leasing engines rather than whole planes as an industry-wide shortage has sent their rental values soaring.
The recent grounding of Spirit Airlines in the US has led to almost-new A320neo aircraft being dismantled for their engines, according to industry executives and analysts.
The aircraft are powered by geared turbofan engines from Pratt & Whitney which have been in short supply as the US group has struggled with manufacturing problems. The release of the engines into the market could help ease an industry-wide shortage and reduce the number of aircraft currently grounded, according to industry experts.
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