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The other growing market
01 May 2007
South America has put its troubles behind it and is a market worthy of investment, with Brazil leading the way. Alex Lennane reports.
Read more:
Oivier Trauchessec
BNP Paribas
Gol
Boeing
Airbus
LAN
Latin America was once a market best avoided. Struggling legacy carriers, riddled with debt and poor performance, fed an impoverished passenger base with ageing aircraft. But although the headlines have focused on the momentous growth in China and India, South America is steadily growing, and boasts some of the world's top airlines.
"There is a striking change in the market," explains Olivier Trauchessec, managing director and head of the aviation finance group, Americas, for BNP Paribas. "It is definitely buoyant. The credits of the companies are improving, the balance sheets are better and there are some strong management teams. We are pleased with what we see and it's a place we want to be."
The financing market in the region has changed considerably in the past few years. "Lots of banks don't want to work in Latin America, as they are not comfortable with the country risk," says one banker....
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