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TIME: Almanac 1990
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1990 Time Magazine Compact Almanac, The (1991)(Time).iso
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050189
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05018900.009
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1990-09-17
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BUSINESS, Page 59Business NotesAEROSPACEA Fleet of Rent-a-Jets
As airlines scramble to expand their fleets and replace aging
jets, many have found that renting planes can be a better deal than
buying them. The chief beneficiary of the trend is GPA Group of
Shannon, Ireland, the world's largest jet-leasing company. Last
week GPA confirmed its dominance by ordering 308 new planes valued
at $17 billion, the biggest such purchase in history. Seattle's
Boeing will supply 182 jets worth $9.4 billion, Europe's Airbus
Industrie 54 for $4.3 billion, and St. Louis-based McDonnell
Douglas 72 for $3.1 billion.
The huge deal brings GPA's total orders and options to 819
aircraft valued at $30 billion. The busy aircraft manufacturers,
whose backlogs are as long as five years, contend that the GPA deal
will not increase production delays.