ISTAT Jetrader - Summer 2022 - 20

RIGHT:
A discussion
about the
market with
Laura Mueller
and Steve
Udvar-Hazy.
LEFT:
The Freighter
Panel, from left:
moderator Pete
Seidlitz, Geoff
Kehr, Wolfgang
Schmid, Michael
Steen, Jens
Steinhagen and
Bill Tarpley.
everyone a happy International
Women's Day. " In what has been a
typically male-dominated industry, it's
exciting to see and celebrate so many
more women in attendance at ISTAT
events, " she said, adding that more
than 200 people attended the Women@
ISTAT event the prior evening.
Market Reflections
Tuesday's programming began with
a " fireside chat " between Steven
Udvar-Hazy, executive chairman of Air
Lease Corporation, and Laura Mueller,
managing director of Airfinance Journal.
Mueller jokingly set ground rules
upfront for Udvar-Hazy, saying, " No
answering questions with questions, "
to which he responded " I don't
follow rules. "
The two covered a wide range of
topics, including deteriorating lessor
financial returns, Udvar-Hazy's opinion
on " tourist money " in the sector, how
long it will take the market to absorb
20 * THE OF F I C I AL PUBL I CAT I ON OF ISTAT
Steve Udvar-Hazy: " Some investors aren't in this for
the long term. When they see an opportunity to make a
profit, they will cash out. "
Russian aircraft, MAX 8 certification,
future Airbus-Boeing market share
splits, hitting net zero by 2050, among
others. Some highlights of Udvar-Hazy's
responses to specific questions:
Mueller: " What is your opinion on
tourist money? How many more lessor
owners do you think will cash out
this year? "
Udvar-Hazy: " I'm not sure this
is a good time to cash out. None of
us expected the global impact of the
pandemic on the leasing industry. Our
view is we have a long-term vision
that aviation will grow. We have to
be patient and weather the crisis like
our management team has over the
years. Some investors aren't in this
for the long term. When they see an
opportunity to make a profit, they will
cash out. They are what I call transient
investors. I think there will be more
entrants, as well. We'll have people
exiting and entering the industry.
There's room for more lessors. There's
space for a lot of different players. "
Mueller: " The MAX 8 is not yet
certified in China. When do you see
it happening? "
Udvar-Hazy: " That decision is to
be made at the highest levels of the
Chinese government, not at the [Civil
Aviation Administration of China] level.
The Chinese airlines that already have
ISTAT Jetrader - Summer 2022

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