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Feature: Financing sources to evolve in 2012
10 January 2012
Banks, export credit agencies and lessors stepped up to finance aircraft deliveries in 2011. Next year will hold much of the same formula.
Read more:
End of year review 2011
2012
At the start of 2011 many in the industry felt that aviation was heading upwards in the cycle. There were no financing disasters in 2010, nor were there any major bankruptcies. Disasters averted, the industry presented a cautiously optimistic mood at the 2011 European Airfinance Conference in Dublin.
"Everything in the first half of 2011 ran on from the back end of 2010," says Aengus Kelly, chief executive officer, AerCap."Looking at the amount of aircraft sales and trading going on, it all looked good."
Optimism remained despite natural disasters that affected some airlines' performances, particularly those in the Asia-Pacific region. But the double-dip that some were concerned with finally hit during the summer as the European debt crisis grew larger.
"Really it changed after Le Bourget [Paris Air Show]," says Kelly. In July concerns grew over the future of the eurozone as the sovereign debt defaults became a possibility. The...
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