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Editorial: Investors require disclosure and consistency
09 March 2012
As airlines turn to the capital markets a standardized process will be required for international issuers.
The need for alternative investors in aviation is critical as the amount and volume of deliveries increases and the historical sources of finance dwindle. This year manufacturers will deliver about $100 billion-worth of equipment. The bank market is contracting, while the price of export credit is set to rise. Historically, the capital markets have steered clear -with a few exceptions - of non-US airlines. Institutional investors rely on ratings to guide their investment. They do not always specialize in a sector, and need a reliable system to measure risk when it...
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