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Pilarski says: The last downturn didn't distress sales
29 July 2010
The role of governments and banks helped avoid panic during the recent recession, says Adam Pilarski, Avitas' senior vice-president.
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Adam Pilarski
Avitas
economic downturn
Europe
One of the big surprises of the last downturn was the lack of panic in the aircraft market. Historically the aircraft market was subject to much greater swings than the rest of the economy. In good times multiple financiers pursuing deals bid to levels that did not make economic sense. On the downside of the cycle the need for cash trumped all other objectives and often led to panic selling (and buying). Hence many astute investors waited for a recession to be able to make splendid purchases during the downturn and reap huge rewards a few years later.
This time the situation seems different. There was, and still is, plenty of money willing to step in and rescue companies in distress which have to unload their assets quickly. Checks can be...
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