Originally Posted by nanyang

Some of those figures in that latter article simply do not make sense.

As such, leasing a high % of your a/c is not a problem (look at IndiGo, VietJet Air and so on). BTW, I assume we are talking about operating leases. Gives an airline a lot of flexibility, no need to arrange debt, possibly quicker access to growth capacity, reduces residual value risk etc. etc. Airlines can also make nice upfront profits from sale-and-leasebacks. Plus there is plenty of competition in the leasing market, so airlines can actually get some really attractive deals.

Very few airlines globally are investment grade. I'm not sure whether local ratings (e.g. KIS) are 100% comparable to S&P, Fitch, Moody's.

The Korean airline industry is very unique.