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Airlines are on the largest jet-buying spree in the history of aviation, ordering more than 8,200 new planes with manufacturers Airbus and Boeing in the past five years. There are now a combined 24 planes rolling off assembly lines each week, up from 11 a decade ago. And that rate is expected to keep climbing.
The new planes allow the airlines to save on fuel, now their biggest cost, while offering passengers more amenities . Passengers can plug in to work or be entertained by a seat-back TV and fly some international routes nonstop for the first time. And the commercial divisions of Boeing and Airbus get a steady stream of cash for years, which is a key reason investors have doubled the companies’ stock price in the past year.