Why Airlines Rent Their Planes (and Cargo Carriers Don't)

Most airlines don't own the planes you fly on — they rent them from companies like AerCap and Air Lease Corporation. This episode unpacks the $300 billion aircraft leasing industry, explaining the difference between dry leases (just the metal) and wet leases (plane, crew, and everything). We explore why startups lease while Delta buys, how lessors bet on residual values decades in advance, and why cargo operators like FedEx and UPS come to a completely different answer about ownership. If you've ever wondered who actually owns the aircraft with the airline's logo on the tail, this one's for you.