Aviation visionary Steven Udvar-Hazy named 2026 Tony Jannus Award recipient

Five facts you should know about Udvar-Hazy's influence on commercial aviation

1. He pioneered modern aircraft leasing.
In 1973, Udvar-Hazy co-founded International Lease Finance Corporation (ILFC), one of the first major aircraft leasing companies. Before his model, airlines had to buy planes outright, tying up enormous capital. His leasing concept allowed airlines to expand fleets without spending billions up front, fundamentally changing global airline economics. Today, more than half of all commercial aircraft are leased rather than owned.

2. You've probably flown on one of "his" planes.
At its peak, ILFC owned more aircraft than many major airlines. For decades, travelers boarding commercial flights had a strong chance of flying on a plane leased through one of Udvar-Hazy's companies. His business quietly powered much of the world's airline capacity.

3. He became one of Boeing and Airbus's biggest customers.
Udvar-Hazy's companies ordered hundreds of aircraft from both manufacturers, reportedly more than 700 Boeing jets and around 600 Airbus jets. His purchasing power gave him extraordinary influence over aircraft design, performance specifications, and pricing negotiations, helping shape the planes passengers fly today.

4. He "retired," then built another empire.
After leaving ILFC in 2010, Udvar-Hazy founded Air Lease Corporation and immediately signed multibillion-dollar aircraft orders, including a 51-plane deal with Airbus. Rather than stepping away, he reinvented his business and created another global leader in aircraft leasing.

5. His name graces one of the world's greatest aviation museums.
Udvar-Hazy donated more than $60 million to the Smithsonian Institution to help create the Steven F. Udvar-Hazy Center near Washington Dulles International Airport. The museum is home to many historic aircraft, including the Space Shuttle Discovery , the Concorde , and the prototype Boeing 367-80 .