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Airfinance Annual 2011/12
Euromoney Trading Ltd, Sep 2011, Pages: 200
Now in its 28th year, the Airfinance Annual is your key resource and knowledge bank for the hugely competitive international airfinance industry.
Introductory articles focus on current key issues written by leading aircraft and airfinance professionals providing individual industry comment and analysis:
- Industry review and outlook
- Commercial airliner: Next generation imminent
- New lessors: Will they compete?
- The risks of establishing and managing German KG aviation funds
- OEM support agreements and the implications for asset value
- Aircraft base values
- Investment opportunities in the secondary aircraft market
- The benefits of new hybrid transactions to finance the aviation industry
The Annual also provides individual market analysis of over 25 regions and countries, from a legal and financial perspective, to allow you to gain insight into the core economic regions:
- Africa
- Asia
- Australasia
- Austria
- Benelux
- Canada
- Central, E. & S.E. Europe
- China
- France
- Germany
- Iceland
- India
- Ireland
- Italy
- Japan
- Middle East
- Russian Federation
- Scandinavia
- South America
- Spain
- Switzerland
- Turkey
- United Kingdom
- United States
As well as insightful articles, the book includes a unique directory which features the most established and well-renowned companies within the aircraft and airfinance market. Over 120 countries are represented through over 1,250 companies and over 2,000 contacts. Broken down by country, each section is divided into: banks/finance houses, leasing companies, consultants/brokers, legal consultants/accountants, insurance companies, airlines and manufacturers. The directory features full contact information including contact names, addresses, telephone and fax numbers, email and website details plus a summary of their market activities.
Excerpt
2010 saw strong recovery in both passenger (+8%) and cargo markets (+21%), with passenger numbers continuing in the same vein through the first half of 2011, although cargo growth has slowed.
Now capacity has started to rise again, in some markets already out-pacing demand and putting pressure on yields, which should be moving in the other direction to compensate for oil prices that are unwilling to stay below $115 (Brent crude).
Following their best financial performance in a decade in 2010, the airlines are on course to make a meagre $4bn this year, according to IATA, whose Director General's view of 2010 was “a pathetic margin of 3.2%”.
During the course of 2011 we have experienced oil price spikes, natural disasters in Japan, unrest in the Middle East and another volcano, this time in Chile. We have also seen record ordering of the Airbus A320neo, Boeing's eventual response and escalating production rate targets for both single and twin aisle types.
Impending changes in aircraft fleets extend beyond the single aisle sector to include next generation wide bodies and an up-scaling in the large regional jet sector.
With new rules for export credit support and several lessor platforms on the market, change is also afoot in the financial markets, which will be asked to support more than $250bn of new deliveries over the next three years. Yet constancy of capital is still not guaranteed, with several aerospace banks exiting the market again even as others come back in.
Wider global uncertainty in both economic and financial markets adds to the confusion, with developed market sovereign default concerns at the forefront of ongoing volatility.
From “Industry review and outlook” by Dick Forsberg, Head of Risk & Strategy, Avolon
Review
'I have been contributing to, and reading, the Airfinance Annual for many years. Its breadth of geographical coverage is outstanding. It is always my first 'go to' resource when dealing with transactions in new jurisdictions.' - Andrew Lockhart, Partner, Baker & McKenzie, Hong Kong SAR
“Airfinance Annual sets the standard for comprehensive industry information, covering complex issues concisely through well-written articles and expert commentary. I am always looking to keep up to date with the latest news shaping our industry and Airfinance Annual remains my go-to choice.” - Elliot Gewirtz, Partner, Milbank, Tweed, Hadley & McCloy LLP
“Working with Airlines from many countries Airfinance Annual is always the first publication that we use for initial information.” - Colin Sach, Managing Director of Sach Aviation Capital Limited
“The articles in Airfinance Annual are excellent background material on any country where we need to understand the aviation industry.” - Colin Sach, Managing Director of Sach Aviation Capital Limited
'Airfinance Annual consistently delivers interesting articles touching on relevant current issues facing all of us in the complex world of air finance and is also an excellent source for identifying proven knowlegeable experts in core markets.' - Andrew Muriel, Partner, DLA Piper Rus Limited
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