Why Airplanes Are Still Worth Millions After They Stop Flying

When airplanes are retired, many of them end up stripped for parts that are worth millions of dollars. Almost every component from engines to landing gear. Those parts are in high demand — Boeing and Airbus are behind on deliveries of new aircraft and sold out of planes through the latter part of the decade, just as airlines are trying to capitalize on a resurgence in bookings. What's left over often ends up crushed for scrap metal but parts of the planes are sometimes turned into high-end furniture or even keychains. The used-aircraft parts trade is a small but important part of global spending on airplane maintenance, repair and overhaul, which Oliver Wyman expects to reach $94 billion this year. CNBC visited Ascent Aviation Services and Ecubed in the Arizona desert to see what happens to airplanes when they land for the last time. Chapters: 00:00 — Introduction 01:34 — Airplane Retirement 03:07 — How It Works 06:25 — Business Case 08:00 — What's Ahead » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Connect with CNBC News Online Get the latest news: https://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Facebook:  Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC #CNBC Why Airplanes Are Still Worth Millions After They Stop Flying