Air Transport World

Who's got the cash? (airlines today face enormous capital requirements, and have less confidence that those needs can be met) (Editorial)

Three years ago, when ATW presented its first Finance & Leasing Special Report, the consensus among airlines, analysts and financial institutions was that the future capital needs of the airline industry were immense but that those needs could be met through a combination of internally generated cash flow, outside borrowing and the fledling leasing industry (AYT, 11/88).

Airlines, analysts and financial institutions still agree that the industry faces enormous capital requirements but today, there is far less confidence that these needs can be met. indeed, it is understandable if we tend to regard the late 1980s as a sort of "golden age" of aircraft finance, during which all things appeared to be possible. …

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