Icarus2001, I think the journalists are using "ageing" as an adjective rather than a noun. If used as a noun it might suggest the planes are in the process of growing old gracefully and they could still be in good condition. However, the fact that "ageing" is used that way might suggest the intention is to focus on their age so tend to think its an adjective.
Yeah, but it's funny when you look at it like you have. Sort of like getting introduced to someone new and saying my name is "ageing Icarus2001" . Sounds odd doesn't it?