Lufthansa pushes fleet modernisation with leases for four A350 aircraft

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Lufthansa (LHAB) (LHA) is leasing a further four A350-900 aircraft, part of plans to modernize its fleet and replace older four-engined planes.

The leases have been signed with Avolon, SMBC Aviation Capital and Goshawk, the German airline announced on October 4, 2021.  

The four aircraft will enter service in the first half of 2022, meaning Lufthansa (LHAB) (LHA) will have 21 A350 aircraft in its fleet at the beginning of 2022. 

Lufthansa (LHAB) (LHA) has been increasing the proportion of aircraft it leases to take advantage of low leasing rates, a result of the COVID-19 pandemic.  

“The lease agreements allow us to remain flexible in fleet planning and make the most of exceptional market opportunities,” executive board member Detlef Kayser said in the statement. 

The A350s will be used to replace four-engined A340 aircraft. Lufthansa (LHAB) (LHA), which is also phasing out the A380 and Boeing 747 from its fleet, predicts that the proportion of four-engined aircraft in its long-haul fleet will drop to 15% by around 2025, compared with around 50% before the pandemic.

The fleet modernization will see Lufthansa (LHAB) (LHA) take delivery of a total 177 aircraft, both short-and long-haul, before 2030.  



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