Steven Udvar-Hazy, CEO of Air Lease, says upgraded versions of Airbus and Boeing jets -- planes that have been re-engined, in industry parlance -- are of limited value to operators of the aircraft, save for public relations purposes. Boeing and Airbus, however, insist airlines are requesting re-engined craft, especially single-aisle planes. "If we followed the advice of some leasing companies, i.e. 'No Change', we would still be flying 727s and consuming twice as much fuel," said Airbus Sales Chief John Leahy in a statement. "We, as an industry, have an obligation to be as fuel efficient and environmentally friendly as possible."

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