AerCap controls roughly 1,700 owned and managed aircraft as of 2025, retaining the global leadership position post-GECAS merger. SMBC Aviation Capital follows with approximately 700+ frames, Avolon close to 600, and BBAM in a similar range. The top ten lessors together hold close to 55% of the in-service commercial fleet by value, with widebody penetration disproportionately concentrated in the major balance sheets.
Widebody Lease Rate Trends
A mid-life A330-300 rents at roughly 260-310 thousand USD per month in the mid-2020s, recovering from troughs seen during the pandemic. New-build A350-900 sale-leaseback deals typically close in the 1.0-1.2 million USD per month range on long tenors with maintenance reserves. 787-9 rentals run in a similar range depending on engine choice and step-rent structure. Boeing 777-300ER rates softened as the type ages out of premium long-haul rosters.
Narrowbody Demand and Supply
A320neo and 737 MAX 8 frames clear roughly 380-420k USD per month, sustained by post-pandemic capacity additions across LCCs. Sale-leaseback pipelines remain crowded through 2027 because Pratt & Whitney GTF powder metal inspections forced operators including Wizz Air and IndiGo to ground portions of fleet, deferring scheduled deliveries. Lessors capture the resulting demand for substitute lift on short tenors.
Capital Markets and Financing
Aircraft ABS issuance reached significant levels in 2024 according to industry analysts, with senior notes pricing at SOFR plus 175-225 bps. The Cape Town Convention’s Aircraft Protocol now covers a large number of ratifying states, supporting Export Credit Agency financing through Coface and UKEF. Lessor portfolios continue to migrate toward newer-technology fuel-efficient types as the older A340 and 777-200 generation retires.