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Hard times ahead

01 April 2008

Aircraft leasing companies will find it hard to find funding over the next two years, writes Alasdair Whyte.

Read more: Leasing Companies Struggle

The bond market is closed. After two great years for lessors, investment banks, rating agencies and monolines, the aircraft operating lease market is shut for new issues.

A few issuers such as Willis Lease Finance and, perhaps, GE Aviation Capital's (Gecas) Altitude Aircraft Leasing will be able to tap the private placement market. The problem is nothing to do with the aircraft operating lease market; unlike in 2002 lease rates are high and issued deals are...


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"A lot of people hoped these proposals would die under their own weight"

Michael Inglese, chief financial officer, Aircastle on the proposed new accounting standards

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