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Abstract
Aircraft asset-backed security (ABS) issuance has picked up in the past two years after coming to a halt following the 2007–2008 recession, and strong issuance is expected to continue into 2016. Stable performance and ratings are expected for outstanding transactions, supported by solid passenger-demand expectations. In this article, however, the author notes some softness in values and lease rates, particularly with regard to certain small-variant wide-body aircraft.
The recent increase in ABS issuance has also introduced the market to collateral pools that represent a shift from what has typically been seen in the space. Notably, a few transactions have been completed that feature mid- to end-of-life aircraft and increased concentrations in regional jets and turboprop aircraft. Meanwhile, the author’s outlook for aircraft lessors is stable to positive because they are supported by strong industry fundamentals.
- © 2016 Pageant Media Ltd
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US and Overseas: +1 646-931-9045
UK: 0207 139 1600