Aircraft Leasing: Market Research Report

Date: February 1, 2009
Pages: 509
Price:
US$ 3,950.00
Publisher: Global Industry Analysts, Inc
Report type: Strategic Report
Delivery: E-mail Delivery (PDF)
ID: AF80F870B9DEN
Leaflet:

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Aircraft Leasing: Market Research Report
This report analyzes the worldwide markets for Aircraft Leasing in US$ Billion.

The report analyzes the Aircraft Leasing market by the following types (in terms of Leased Asset Portfolio): Commercial Jets, Regional Jets, and Business Jets.

The report provides separate comprehensive analytics for the North America, Europe, Asia-Pacific, Latin America, and Rest of World.

Annual forecasts are provided for each region for the period of 2006 through 2015.

The report profiles 315 companies including many key and niche players worldwide such as International Lease Finance Corporation, GE Commercial Aviation Service, CIT Aerospace, RBS Aviation Capital, Babcock & Brown Aircraft Management LLC, Ansett Worldwide Aviation Services, Aviation Capital Group Corp., Boeing Capital Corporation, AerCap Group, MacQuarie Aircraft Leasing Services, BOC Aviation Pte Ltd., ALAFCO Aviation Lease and Finance Company KSCC, BAE Systems Plc., BCI Aircraft Leasing, Inc., and SAAB Aircraft Leasing.

Market data and analytics are derived from primary and secondary research.

Company profiles are mostly extracted from URL research and reported select online sources.
I.INTRODUCTION, METHODOLOGY & PRODUCT DEFINITIONS

Study Reliability and Reporting Limitations
Disclaimers
Data Interpretation & Reporting Level
Quantitative Techniques & Analytics
Product Definition and Scope of Study

II. EXECUTIVE SUMMARY

1. INDUSTRY OVERVIEW & OUTLOOK

Aircraft Leasing Outlook – Closely Tied to Airline Industry’s Fortunes
Leasing Aircraft –A Viable Alternative to Airlines Woes
Global Financial Crisis and Aircraft Leasing
Sale-and-Lease-Back Deals: Order of the Day
Aircraft Financing – A Cause of Concern
Airline Industry Trouble Spills Over to Manufacturers

2. LEASED ASSET PORTFOLIO – CURRENT VALUE AND FORECASTS

Commercial Jets Account for the Largest Type
Europe and US Dominates, Asia-Pacific Exhibits Fastest Growth

3. TRENDS & ISSUES IN AIRCRAFT LEASING INDUSTRY

Limited Credit and High Fuel Prices Soften Lease Rates
Leasing Companies to Suffer from Falling Aircraft Values
Declining Growth in Traffic Prompts Capacity Rationalization
China to Emerge as the Fastest Growing Aviation Market in the Next Two Decades

4. AIRCRAFT LEASING INDUSTRY IN THE RECENT PAST

5. COMPETITIVE LANDSCAPE

Table 1. Leading Aircraft Lessors Worldwide by Leased Aircraft Asset Portfolio Value (2006 and 2007) – ILFC, GECAS, CIT Group, RBS Aviation Capital, Babcock & Brown, AWAS, Aviation Capital Group, Boeing Capital, AerCap, and MacQuarie Airfinance (includes corresponding Graph/Chart)

ILFC’s Fate Raises Industry Concerns

Table 2. Leading Narrow-Body Aircraft Lessors Worldwide by Leased Asset Portfolio Value (2007) – ILFC, GECAS, RBS Aviation Capital, Babcock & Brown, CIT Group, Aviation Capital Group, Boeing Capital, AWAS, AerCap, and MacQuarie Aircraft Leasing (includes corresponding Graph/Chart)
Table 3. Leading Wide-Body Aircraft Lessors Worldwide by Leased Asset Portfolio Value (2007)– ILFC, GECAS, AWAS, CIT Group, Allco Equipment Leasing, Babcock& Brown, BOC Aviation, Aircastle Investment, Boeing Capital, and Oasis International Leasing (includes corresponding Graph/Chart)
Table 4. Leading Regional Aircraft Lessors Worldwide by Leased Asset Portfolio Value (2007)–GECAS, BAE Systems Asset Management, RBS Aviation Capital, CIT Group, Bombardier Capital, AerCap, Allco Equipment Leasing, BCI Aircraft Leasing, GOAL, and Pembroke Group (includes corresponding Graph/Chart)
Table 5. Leased Airbus Narrow Body Aircraft Portfolio Value by Type (2007) – A318, A319, A320, A321 (includes corresponding Graph/Chart)
Table 6. Leased Airbus Wide-Body Aircraft Portfolio Value by Type (2007) – A300, A310, A330, A340 (includes corresponding Graph/Chart)
Table 7. Leased Boeing Narrow Body Aircraft Portfolio Value by Type (2007) –737NG, 737CFMI, 757, 717, 727, and 737JT8D (includes corresponding Graph/Chart)
Table 8. Leased Boeing Wide Body Aircraft Portfolio Value by Type (2007) –777, 767, and 747 (includes corresponding Graph/Chart)

6. BUSINESS JETS MARKET

Fractional Ownership - An Emerging Business Option

7.REGIONAL JETS MARKET

Leasing – Not a Mainstay in Regional Jets Market

8. AIRCRAFT LEASING – A REVIEW

Aircraft Leasing
Aircraft Owned or Leased
Key Advantages of Aircraft Leasing
Aircraft Leasing Services
Structure of Aircraft Leasing
Process of Aircraft Leasing
Fundamental Strategies Adhered by Lessors
Classification of Aircraft Leasing
Classification based on Ownership
Finance Lease
Operating Lease
A Comparison between Operating Lease and Financial Lease
Criteria for Determining the Type of Lease
Accounting Treatment for Capital and Operating Lease
Classification based on Services
Wet leasing:
Dry Leasing:
Slot Swaps
Risks and Challenges
Key Determinants of the Airline Leasing Industry
Fuel Costs and Lease Rates - Key Factors Affecting Aircraft Leasing Industry
Interest Rates
Fuel Costs
Age of an Aircraft
Aircraft Valuation
Price Dynamics Vis-A-Vis Discounts: Supply Side Economics

9. GLOBAL AVIATION INDUSTRY – A PERSPECTIVE

Global Economic Environment and its Impact on Aviation Industry
An Insight into the Current Global Aircraft Demand
Economic Development Influences Aviation Demand
Developing Economies Hold the Key to Future Aviation Market Growth
Urbanization Fuels Aviation Sector Growth
Price – The Key Factor Influencing Air Travel Demand

Table 9. Global Aviation Market (2007): Percentage Breakdown of Airline Traffic for Global Network, Major Network, Small Network, LCC, Charter and Regional & Affiliates (includes corresponding Graph/Chart)
Table 10. Global Airlines Market by Geographic Region – Percentage Share Breakdown for US, Canada, Japan, Europe, Asia-Pacific, Middle East & Africa, and Latin American Markets in terms of Passenger Traffic for the Years 2010 & 2015 (includes corresponding Graph/Chart)

Emerging Regions to Gain Increased Share of Global Air Traffic
Liberalization Wave Promises New Horizons for Air Travel Growth
Factors Influencing Civil Aerospace Industry
Strategic Trends: 2007-2008
Current Scenario Looks Uncertain
Uncertainty in Global Economy
Emerging Economies Propel Market Expansion
The Asian Influence
Commercial Aircraft

Table 11. Global Large Commercial Aircraft Market (2009-2011): Deliveries by Company for Boeing and Airbus (includes corresponding Graph/Chart)

10. RECENT INDUSTRY ACTIVITY

Developments at the Lessor-Lessee Level
Hawaiian Airlines Enters New Lease Contracts with AWAS
Kingfisher Airlines and Jet Airways Plan to Return 14 Leased Planes
Airstream Leases Two Used Regional jets to Athens Airways
Wataniya Airways Inks Leasing Agreement with ILFC for A320 Aircraft
BCI and China Airlines Sign Sale-and-Lease-back Agreement
Turkish Airlines Leases Airplanes from Two Leasing Companies
BCI Extends Lease of Two A340-300 Airbus Aircraft with Air Namibia
Wataniya Airways Leases Airbus A320 Aircraft from AerCap
Alafco Leases Airbus Aircraft to Saudi Arabian Airlines
CAB Approves Lease Agreement between Tiger Airways and SAA
Global Air to Lease 8 Aircraft
BCI Novates Operating Leases for Boeing Aircraft to Aloha Air Cargo
ALAFCO Inks Lease Agreement with Saudi Arabian Airlines
BOC Aviation Enters into a Purchase and Leaseback Agreement with Air Canada
BOC Aviation Enters into Agreements for Leasing Two New A319-100 Aircraft
China Southern Airlines Annuls Lease Back of an Airbus A321-200
Bangkok Airways Enters Lease Contract with Aircraft International Renting
Airstream Leases Two Boeing 737-800 Airplanes for Hapag- Lloyd
Skywest Airlines Signs Contract with Capital Lease Aviation
AVIV Signs MOU with GECAS to Sell ARJ21 Regional Jets
China Southern Foregoes Purchase Rights of Five A321-200s to Lessors
BOC Aviation Delivers First BOEING 737-800 to Shenzhen Airlines
BOC Aviation Signs Agreements with Qantas Airways
Air India to Lease 10 to 15 Aircraft
TAP Enters Lease Agreement with AerVenture
Jet Airways Signs Agreement to Lease Five Boeing 737s
ICBC Signs Aircraft Leasing Agreement with Hainan Airline
BOC Aviation Signs Lease Agreements with Asian Airlines
Boeing Delivers Next-Generation Boeing 737-800 to Okay Airways
Skybus Enters into an Accord with BOC
BAE Systems Extends the Avro RJ85 Lease Agreement with Blue 1
British Airways Obtains Debt Finance from Chinese Bank
AerVenture Inks Agreements to Lease Six A320s to Aeroflot
Etihad Signs Contract with CIT Aerospace for Two Airbus Aircraft
GTK Rossiya Enters into Financial Leasing Contract with Ilyushin for An-148s
Indian to Provide Aircraft on Wet Lease to India Post
Jet Airways to Receive Two Boeing 737-800s on Lease from BOC Aviation
Okay Airways Signs Aircraft Lease Agreement with AVIC Leasing
WestJet Concludes Aircraft Leasing Contract with BOC Aviation
Jet Airways Inks Agreements for 13 new ATR 72-500s
AirAsia to Terminate Lease Agreements with Penerbangan Malaysia
Advent Enters New Lease Agreement with Avation PLC
Genesis signs Purchase-and-Leaseback Agreement with Deccan Aviation
Estonian Airlines and Saab Aircraft Leasing Sign Lease Contract
Aeroflot and UAC Sign Memo for leasing Il-96 aircraft
Aeroflot Signs LOI with AerCap to Lease Airbus A330 Aircraft
Virgin Blue Purchases Six Boeing 777s
Belavia Obtains First CRJ-100LR Under Leasing Contract with DSF
Dragon Aviation Leases Airbus A320 to JuneYao Airlines
BAE Systems Leases Jetstream 41 to Eastern Skyjets
CIT Aerospace to Lease B737-800 to OASC
Hawaiian Concludes Aircraft Acquisition, Enters into Lease Agreement with AWAS
AeroCentury Acquires and Leases Saab 340B Aircraft to Colgan Air
BAE Enters into an Aircraft Lease Agreement with Transwede
Air India to Wet Lease Five Airplanes
Saab Aircraft to Lease Out 25 Advanced Saab 340Bplus Aircraft
Avion to Acquire Minority Interest in Advent Air and Lease Airbus A320 Aircraft
SpiceJet and Babcock & Brown Sign Sales and Lease Agreement
Indian to Lease 12 Planes for Network Expansion
AirAsia Inks Agreement to Lease Planes to Fly Asian Xpress
Indian to Lease 16 Airbuses for Indian Aviation Market
SALE Inks Lease Agreements with WestJet
Regional Express and SAAB Sign Lease Agreement
SALE Signs Lease Agreements with Shandong Airlines
GATX Air Acquires Two A320s From Tiger Airways
Beriev Taganrog Inks Aircraft Leasing Agreement With Portugal
Ilyushin Finance Company To Supply Jets To Syria’s Arab Airlines
AeroCentury Leases Saab 340A Aircraft to RegionsAir
SALE Orders for 10 Additional Boeing 737 Aircraft
SALE Leases Out the Maiden Version of Airbus A320
Adam Air to Acquire 30 Airbus A320 Aircraft
IA Receives Offers for Lease of Airbus to Run on European and Australian Routes
ANA to Expand its Fleet by Five A320 Aircraft
AeroCentury Re-Leases Two Dash-8-300s to LIAT
BAE Signs Contracts with Three Large Airlines
WestJet Leases Jets from ILFC
Eurofly Inks an Agreement with Airbus
AeroCentury Inks Agreement for Aircraft Lease with VLM Airlines
BCI Aircraft Acquires 3 Boeing 767-300ERs and Leases Out to TUI AG
Developments at the Manufacturer-Lessor Level
BOC Aviation Places Order for 20 A320 aircraft
CIT Aerospace Places Repeat Order for Ten Airbus A320
AerCap Signs a Contract with Airbus
DAE Capital Places Order for 100 Airbus Aircraft
Genesis Lease Limited Acquires Boeing 767-300ER Aircraft
Biman Bangladesh Airlines Plans to Acquire Two Boeing 737-800s Aircraft
Boeing Supplies 737-900ER Airplane to GE Commercial
Boeing Delivers Next-Generation 737-800 to ILFC
Boeing Supplies first 737-900ERs to Europe
AWAS Completes Purchase of Six A330 Aircraft
B&B Air Acquires Five Aircraft from Boeing and Airbus
CIT Inks a Contract for A320 Family Aircraft and A330-200s
Boeing Delivers 747-400 Freighter to GECAS
BOC Aviation Signs Contract with Airbus for Five A330-200F Cargo Aircraft
AWAS Inks Contract for Airbus A320 Family Aircraft
Vietnam Places Order for A350 XWB and A321 Aircraft
AWAS Places Orders for Next-Generation 737-800
Vietnam and Boeing to Ink Purchase Agreements for 12 Boeing 787-8
DAE Capital Inks Agreements with Airbus and Boeing
ILFC Revises A350 order to A350 XWBs
Aviation Capital Inks Agreement for Supply for A320 Family Aircraft
CIT Inks Contract for Supply of A350 XWB and A320 Family Aircraft
Intrepid Enters into a Purchase and Lease Agreement with Airbus
ALAFCO Enters into Financing and Leasing Agreement with Airbus
BCI Acquires Boeing 737-300QC Aircraft
Boeing Obtains Order for 787-9 Dreamliner from LCAL
Airbus and Intrepid Leasing Sign LOI for 20 Cargo Aircraft
SALE Signs a US$ 2.8 Billion Agreement for 40 Aircraft
ALAFCO Signs Firm Contract for 6 Airbus A320 Aircraft
Boeing Delivers First 737-800 Aircraft to SALE
CIT Signs Contract with Airbus for Supply of Aircraft
ILFC Signs Supply Contract with Airbus for A320 Aircraft
SALE Places an Order for 10 Boeing Aircraft
Dubai Aerospace Plans Purchase Of 50 Aircraft
Bombardier and Caribbean Aircraft Leasing Sign Contract for Q300 Aircraft
SALE to Acquire 40 Boeing aircraft
Other developments
Jazeera Airways Establishes Aircraft Leasing Company
Austrian Hypo to Launch Aircraft Leasing Services
Aergo Capital Acquires Aviation Leasing Business in South Africa
Aldus Commences Business Operations
Vinacapital Purchases 10% Stake in Vietnam Aircraft Leasing
SEC Approves Incorporation of Aircraft Leasing Firm
Vietnam Enters Plane Leasing Business
DAE Forays into Aircraft Leasing Business
Xojet Receives Investment Worth $143 million
Four Chinese Banks to Establish Aircraft Leasing Companies
Hainan Airlines to Establish an Aircraft Leasing Company
Terra Firma Acquires Pegasus Aviation Finance
Al Salam Bank Completes Equity Stake Acquisition in Boeing 777
Global Aircraft Solutions to Acquire Stakes in Global Aircraft Leasing
Macquarie Aircraft Acquires Stakes in KG Aircraft Leasing
Terra Firma Acquires Pegasus Aviation Finance
UIB to Establish Aircraft Leasing Company in Bahrain
HNA Group Plans to Begin Aircraft Leasing Business
AVIC I to Form a Leasing Unit
Aircastle to Acquire 38 Aircraft from US Investment Group
GATX Divests Aircraft Joint Ventures to MALL
RBS and Bank of China to Tie-up for Aircraft Leasing
Bank of China Acquires SALE
Shanghai Electric to Start Aircraft Leasing unit
MKA Inks a Share Exchange Agreement with Sancon Recycling
Bravia Capital Partners And ILFS form Joint Venture
Terra Firma Completes Acquisition of AWAS
Oasis International Acquires Jet Fleet from Airbus
Financial Telecom Limited Changes Name to MKA Capital
BVI to Acquire New Bombardier Jet
Fintel Takes Over Control of MK Aviation
Jet Airways Wet Leases Aircraft to Gulf Air
GE Commercial Finance Acquires CIT Aircraft Business
Air Arabia Announces Aircraft Acquisition Plans
GE and US Airways enter Aircraft Lease and Finance Agreement
WestLB Acquires Stake in SALE

11. FOCUS ON MAJOR GLOBAL PLAYERS

International Lease Finance Corporation (USA)
GE Commercial Aviation Service (USA)
CIT Aerospace (USA)
RBS Aviation Capital (Ireland)
Babcock & Brown Aircraft Management LLC (Australia)
Ansett Worldwide Aviation Services – AWAS (Ireland)
Aviation Capital Group Corp (USA)
Boeing Capital Corporation (USA)
AerCap Group (Netherlands)
MacQuarie Aircraft Leasing Services (USA)
BOC Aviation Pte Ltd (Singapore)
ALAFCO Aviation Lease and Finance Company KSCC (Kuwait)
BAE Systems Plc (UK)
BCI Aircraft Leasing, Inc (USA)
SAAB Aircraft Leasing (USA)

12. GLOBAL MARKET PERSPECTIVE

Table 12. World Recent Past, Current & Future Analysis for Aircraft Leasing by Geographic Region – North America, Europe, Asia-Pacific, Latin America and Rest of World Independently Analyzed in terms of Leased Asset Portfolio Value in US$ Billion for Years 2006 through 2015 (includes corresponding Graph/Chart)
Table 13. World 10-year Perspective for Aircraft Leasing by Geographic Region – North America, Europe, Asia-Pacific, Latin America and Rest of World for 2006, 2009, and 2015 (includes corresponding Graph/Chart)
Table 14. World Recent Past, Current & Future Analysis for Commercial Jet Leasing by Geographic Region – North America, Europe, Asia-Pacific, Latin America and Rest of World Independently Analyzed in terms of Leased Asset Portfolio Value in US$ Billion for Years 2006 through 2015 (includes corresponding Graph/Chart)
Table 15. World 10-year perspective for Commercial Aircraft Leasing by Geographic Region – North America, Europe, Asia-Pacific, Latin America and Rest of World for 2006, 2009, and 2015 (includes corresponding Graph/Chart)
Table 16. World Recent Past, Current & Future Analysis for Regional Jet Leasing by Geographic Region – North America, Europe, Asia-Pacific, Latin America and Rest of World Independently Analyzed with Leased Asset Portfolio in US$ Billion for Years 2006 through 2015 (includes corresponding Graph/Chart)
Table 17. World 10-year Perspective for Regional Jet Leasing by Geographic Region – North America, Europe, Asia-Pacific, Latin America and Rest of World for 2006, 2009, and 2015 (includes corresponding Graph/Chart)
Table 18. World Recent Past, Current & Future Analysis for Business Jet Leasing by Geographic Region – North America, Europe, Asia-Pacific, Latin America and Rest of World Independently Analyzed with Leased Asset Portfolio in US$ Billion for Years 2006 through 2015 (includes corresponding Graph/Chart)
Table 19. World 10-year perspective for Business Jet Leasing by Geographic Region – North America, Europe, Asia-Pacific, Latin America and Rest of World for 2006, 2009, and 2015 (includes corresponding Graph/Chart)

III. MARKET

1. NORTH AMERICA

A. MARKET ANALYSIS

Current and Future Analysis
Outlook
Slowdown in US Economy
US Regional Jets Market Facing Turbulent Times
Regulatory Setup in US Aviation Industry
Strategic Corporate Developments
Select Key Players

B. MARKET ANALYTICS

Table 20. North American Recent Past, Current & Future Analysis for Aircraft Leasing Market by Segment- Commercial Jets, Regional Jets, and Business Jets- Markets Independently Analyzed with Leased Asset Portfolio in US$ Billion for Years 2006 through 2015 (includes corresponding Graph/Chart)
Table 21. North American 10-year perspective for Aircraft Leasing Market by Segment- Commercial Jets, Regional Jets, and Business Jets- Markets for 2006, 2009, and 2015 (includes corresponding Graph/Chart)

2. EUROPE

A. MARKET ANALYSIS

Current and Future Analysis
Outlook
Aircraft Leasing Higher in Europe Compared to North America
Ireland - A hub for Global Leasing Industry
Strategic Corporate Developments
Select Key Players

B. MARKET ANALYTICS

Table 22. European Recent Past, Current & Future Analysis for Aircraft Leasing by Type- Commercial Jets, Regional Jets, and Business Jets- Independently Analyzed in terms of Leased Asset Portfolio in US$ Billion for Years 2006 through 2015 (includes corresponding Graph/Chart)
Table 23. European 10-year Perspective for Aircraft Leasing Portfolio by Type- Commercial Jets, Regional Jets and Business Jets for 2006, 2009, and 2015 (includes corresponding Graph/Chart)

3. ASIA-PACIFIC

A. MARKET ANALYSIS

Indo-China Open Sky Policy Propels Aviation Industry

INDIA

Aviation Industry- Regulatory Setup in India
Declining Lease Rentals Offer no Breather to the Bleeding Airlines
Indian Carriers Seek Capacity Rationalization
Market for Business Jets on the Rise

CHINA

Slowdown in Chinese Airline Market Raises Concerns
Chinese Banks Foray into the Global Aircraft Financing Market
Easing Regulations Drive Domestic Players to Foray into Aircraft Leasing
Strategic Corporate Developments
Select Key Players

B. MARKET ANALYTICS

Table 24. Asia-Pacific Recent Past, Current & Future Analysis for Aircraft Leasing by Type- Commercial Jets, Regional Jets, and Business Jets- Independently Analyzed in terms of Leased Asset Portfolio in US$ Billion for Years 2006 through 2015 (includes corresponding Graph/Chart)
Table 25. Asia-Pacific 10-year Perspective for Aircraft Leasing Portfolio by Type- Commercial Jets, Regional Jets, and Business Jets for 2006, 2009, and 2015 (includes corresponding Graph/Chart)

4. LATIN AMERICA

A. MARKET ANALYSIS

Current and Future Analysis

B. MARKET ANALYTICS

Table 26. Latin American Recent Past, Current & Future Analysis for Aircraft Leasing by Type- Commercial Jets, Regional Jets, and Business Jets- Independently Analyzed in terms of Leased Asset Portfolio in US$ Billion for Years 2006 through 2015 (includes corresponding Graph/Chart)
Table 27. Latin American 10-year Perspective for Aircraft Leasing Portfolio by Type- Commercial Jets, Regional Jets, and Business Jets for 2006, 2009, and 2015 (includes correspondingGraph/Chart)

5. REST OF WORLD

A. MARKET ANALYSIS

Current and Future Analysis
Outlook
Aviation Industry in Middle East – Flourishing During the Global Slump
Aircraft Leasing Industry in Middle East
Industry Structure
New Airport to Surge Leasing Activities in Middle EastStrategic
Strategic Corporate Developments
Select Key Players

B. MARKET ANALYTICS

Table 28. Rest of World (*) Recent Past, Current & Future Analysis for Aircraft Leasing by Type- Commercial Jets, Regional Jets, and Business Jets- Independently Analyzed in terms of Leased Asset Portfolio in US$ Billion for Years 2006 through 2015 (includes corresponding Graph/Chart)
Table 29. Rest of World (*) 10-year Perspective for Aircraft Leasing Portfolio by Type- Commercial Jets, Regional Jets, and Business Jets for 2006, 2009, and 2015 (includes corresponding Graph/Chart)

IV. COMPETITIVE LANDSCAPE

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