Guv is wrong when stating the aircraft that has the lowest lease rate is the cheapest.
In fact in times of crisis like we have now the aircraft that get the jobs are the aircraft with the lowest direct operating costs, and that is not the DC-10's or the L1011's.
And as from a ceratin threshold, say 250-300 hours per month, the newer aircraft with the higher lease rate will always come out cheaper per seat/hour, an advantage which comes on top of the all important higher reliability and of the more attractive interiors of the newer aircraft.
Of course, GUV must be far off in his aircraft comparisons and conclusions for as long as he keeps estimating A330 lease rates at around US 1Mio per month.
Beware of the quality of his basic data and hence of the quality of his judgment.