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Editorial: January 2012
18 January 2012
Capital might be scarce, but aircraft will be financed in 2013
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Editorial
January
2012
As the aircraft finance community braces itself for a difficult year in 2012, it is important to remember that new deliveries will be financed. However, the landscape of financing is changing, as it has many times.
Liquidity will be a concern entering 2012. Several banks are leaving aviation, with others scaling back their activity in the sector. Some will be worse off than others.
For instance, Asian carriers, particularly those in China and South-East Asia, will look to regional banks for debt. These banks are willing to work with regional carriers, but extending their reach to Europe and the US is unlikely, at least within the next 12 months.
Airlines in the US can, as they have in the past, issue enhanced equipment trust certificates through the bond market to finance new deliveries and refinance existing equipment.
But with Basel III on the horizon - parts of it start to...
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