New rules on financing and lending by export credit agencies and commercial banks could have an impact in 2013 and beyond on new aircraft orders, the market and valuation for used aircraft, and the ability to start new carriers. But uncertainty remains over the staying power and interpretation of the new rules, how they will play out and whether new sources of financing will ameliorate the impact. "Although it already costs more to arrange financing within the aviation industry compared to a few years ago, we expect the cost of financing could increase further as regulatory changes take shape," says PwC in an aviation finance report released this month, after the firm interviewed CEOs and CFOs of airlines, aircraft lessors, European banks and other financial institutions in Asia, the Middle East and Europe. "Aircraft deliveries over the next three to five years will need to be financed at a time when liquidity is scarcer and risk is being repriced."
展开▼
