Abu Dhabi-based Oasis International Leasing says the global aircraft leasing industry has weathered the worst of the aviation sector downturn with rates and values stabilizing and demand for smaller and newer aircraft increasing.
Speaking at the Middle East and North Africa Airfinance Conference in Dubai, Oasis Leasing's Commercial Director, Erik Dahmen, told delegates the company was seeing more opportunities to bid on transactions for major airlines, indicating increased demand for leasing as a finance solution. Airlines worldwide are seeking to finance existing orders through leasing or free up cash invested in their existing fleet.
“Although market values are under pressure they are stabilizing. After three difficult years the long term trend is up and airline manufacturers are bullish in their forecasts, especially for Middle East markets,” said Dahmen. He added, however, the availability of a large number of aircraft is an obstacle to a quick recovery.
Dahmen said although uncertainties remain he is optimistic about a steady recovery in the global aviation industry. This is a view supported by an International Civil Aviation Organisation (ICAO) forecast that world airline passenger traffic will grow by 4.4 percent next year, followed by 6.3 percent in 2005. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
