When the COVID-19 pandemic grounded nearly 70% of the global commercial aircraft fleet in May 2020, the widebody segment was most affected. As airlines looked to streamline their fleets, it became common for larger aircraft to go into long-term storage for more than three months or to be returned to their lessor owners and, in some cases, retired from service early. Stalwarts such as the Boeing 747 and older Airbus A340 aircraft are being retired at an accelerated pace, while the A380 superjumbo is expected to be further reduced throughout the global fleet in the near term.
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