One thousand aircraft will retire each year in 2024, according to Richard Brown, a principal at consultancy ICF International. “The aviation industry is facing an aircraft retirement Tsunami,” he told delegates at the Aircraft Fleet Recycling Association’s annual meeting in Washington DC yesterday (June 18). The increase in aircraft retirements is due to cyclical rather than structural reasons, said Brown. “The combination of aircraft reaching the end of their economic life, low interest rates, relatively high fuel prices and the introduction of new models is causing the retirement of unprecedented numbers of aircraft,” he explained. The development of new technologies and increasing OEM production rates are also exacerbating aircraft retirements, he said.