Aircraft lease rates yet to peak: BOC Aviation CEO
AIRCRAFT lease rates have yet to peak but could hit a plateau in the next 12 months, said the chief executive officer of Hong Kong-listed lessor BOC Aviation.
Steven Townend, chief executive of BOC Aviation, said that the industry did not see the current imbalance of supply and demand in the previous cycle between the Great Financial Crisis from 2008 to 2009 and pre-pandemic, but it was present to a certain extent in the pre-financial crisis in 2005-2007.
“...What we saw was that lease rates went up to a point and then kind of plateaued when the effects of interest rates were stripped out and these just reflected supply and demand. I don’t think we are at that plateau yet, depending on how quickly they move up, we could get there maybe within the next 12 months,” the veteran with 33 years of banking and leasing experience said on Wednesday (Apr 3).
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Transport & Logistics
Chinese EV giants hammered by Biden tariff are welcome in Brazil
Japan’s Honda raises electrification investment to US$65 billion through FY2030
Rising industry capacity exerting pressure on yields, says senior SIA executive
Sats picks former Cisco Apac head as chairman-designate
Red Sea disruptions are splitting global LNG trade into regions
Uber unveils US shuttle service, expands Costco tie-up to woo price-conscious users