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Research and Markets: Airfinance Annual 2009/2010 - Many Argued That the Demand for Air Travel Would Change in the Aftermath of 9/11 and Were Fortunately, Proved Wrong
Dépèche transmise le 6 août 2009 par Business Wire
DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/d2158d/airfinance_annual) has announced the addition of the "Airfinance Annual 2009/2010" report to their offering.
The 26th edition of the Airfinance Annual continues to provide expert editorial on commercial aircraft financing - a comprehensive source of annually updated aviation market material, financial and legal analysis and information. This key resource is an essential guide to the hugely competitive international airfinance market, with introductory articles written by leading aircraft and airfinance professionals, focusing on the hottest issues. Individual market analysis of 25 regions and countries allow you to gain insight into the core economic regions, from both a legal and financial perspective. A unique directory of over 1,000 banks/finance houses, leasing companies, consultants/brokers, legal consultants/accountants and insurance companies active in the airfinance market completes this indepth and informative guide.
Airline reviews written by Airline Correspondent David Bentley provide the reader with the latest news and detailed information on the key airlines in each region.
Plus a unique directory of over 1,000 banks/finance houses, leasing companies, consultants/brokers, legal consultants/accountants and insurance companies active in the airfinance market listing contact names, addresses, telephone/fax numbers and a description of their activity in the market.
"Just as oil price was the dominant theme of last year's Industry Review, recession has firmly taken centre stage this year. The events of the past 12 months will be remembered for de-bunking more than a few industry urban myths, such as: the existence of a "super cycle"; globalisation has de-linked regions from economic contagion; airlines should always hedge their fuel exposures.
At least some valuable lessons have been learned as airlines around the globe are embroiled in further extreme challenges and, for the majority, extensive financial losses. A year ago, it was oil price volatility that kept most airline CEOs awake at night, with several signing up to last ditch hedging contracts at well over US$120 a barrel.
Now, whilst fuel price rightly remains a key factor in planning airline operations, the spectre of vanishing traffic and revenues has overtaken it as the principal cause for concern and placed the airline industry once again into survival mode.
The extent and speed of the decline in demand raises concerns over whether the change is permanent rather than merely a function of the economic cycle. While this downturn is already the worst in a generation and there is talk of structural change in global trade, most economists still believe that demand will bounce back once economic activity picks up.
Many argued that the demand for air travel would change in the aftermath of 9/11 and were, fortunately, proved wrong. However current economic forecasts do suggest that we are still one to two years away from the real recovery. In the meantime, up to 100,000 industry jobs are potentially at risk, according to IATA's Chief Economist.
As airline profits nosedive, new aircraft continue to be delivered at historical rates, although there is growing pressure from airlines to defer, if not outright cancel, positions and output must surely be cut in 2010. Net new orders have already been hit hard, cut from 1,700 in 2008 to potentially fewer than 300 in 2009 as cancellations begin to eat into a still bloated backlog.
Sample of the 1,091 companies mentioned:
- Air Transport Association of America, Inc
- Air Transport Association of Canada
- Arab Air Carriers Organization
- Ascend
- Atsumi & Partners
- AVITAS, Inc.
- Baker & McKenzie
- Baker & McKenzie Advokatbyra KB
- Bhasin & Co. Advocates
- British Air Transport Association
- Calyon
- Cassels Brock & Blackwell LLP
- Denton Wilde Sapte LLP
- Dikici Law Office
- DLA Piper Rus Limited
- Engine Lease Finance Corporation
- European Business Aviation Association
- Freshfields Bruckhaus Deringer LLP
- Froriep Renggli
- NautaDutilh N.V.
- NCTM - Studio Legale Associato
- Norton White
- Plesner
- RBS Aviation Capital
- Sach Aviation Capital Limited
- Seabury Aviation & Aerospace
- TCW Attorneys-at-Law
- TES Aviation Group
- Vedder Price, P.C.
- Veling
- White & Case LLP
For more information visit http://www.researchandmarkets.com/research/d2158d/airfinance_annual
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