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Which Airlines are Ordering the Most Commercial Jets?
January 15, 2024
By Julie R. Peasley, Visual Capitalist
Commercial jet orders hit records in 2023 as travel demand soared.
India’s IndiGo airline ordered 500 jets in June, estimated to be valued at a $55 billion list price. In reality, this price is likely lower given that it was a large order (the financial statements have not yet been disclosed). Just months earlier, Air India ordered 470 jets.
The last time an order was this large was in 2011 with American Airlines purchasing 460 aircraft.
Which Airlines Bought the Most Aircraft?
The aircraft industry is run by a duopoly between Boeing and European giant Airbus, with a commercial jet running at more than $100 million.
Here are the top airlines by aircraft orders in 2023:
As the above table shows, airlines in India purchased more jets than the next 13 countries combined.
Travel demand in India is projected to boom as the most populous country in the world continues to grow. India is the world’s third-biggest domestic aviation market and by 2042, its market is projected to be five times larger than 2019 levels.
Across India, discretionary spending accounted for 24% of household consumption in 2020, up from 13% in 2000.
Southwest Airlines and United Airlines each purchased over 100 jets. U.S. air travel hit records last year at 16.3 million flights.
Saudi Arabia’s new airline, Riyadh Air, purchased 39 jets as the country looks to boost international tourism. Prior to 2019, most foreign visitors couldn’t travel to the country. The airline is financed by the Public Investment Fund, the Saudi sovereign wealth fund and one of the biggest in the world. This investment is projected to add $20 billion to the economy.
Safety Concerns in the Spotlight
After a window blew out of a Boeing 737 Max 9 aircraft in early January, regulators are requiring the temporary grounding of almost 200 planes for safety inspections.
The Max 9’s are used by just two American airline operators, Alaska Air and United Airlines.
Prior to this incident, deliveries of Max 9’s were delayed due to potential manufacturing flaws involving loose bolts in the rudder-control system. In 2018 and 2019 an earlier version of these planes, the Max 8, crashed twice resulting in the death of 346 passengers. Max 8 and 9 planes were grounded for two years.
The two fatal crashes have cost Boeing an estimated $20 billion in settlements and fines, including a $2.5 billion criminal investigation settlement surrounding safety issues.
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