16 MAY 2011
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With Europe’s major business aviation show, EBACE, taking place at Geneva this week (17/18/19 May) leading aviation law firm Gates and Partners, has seen a positive start for the business aviation market in 2011.
The London-based firm is seeing a more robust market and notes that sources of finance are becoming more enthusiastic. Aoife O’Sullivan, a Partner, comments: “Whilst there is still a long way to go to achieve previous activity, we have certainly seen an increase in business jet transactions. Demand for the mid to heavy jets is still high, but the lighter end of the market is also picking up pace.”
She attributes this to the increasing openness of banks who are returning to the table to finance deals. “Financiers remain quite strict about the calibre of their buyers, but they are now eyeing up deals that six months ago they would not have considered,” says O’Sullivan. “Terms may be stricter considering factors such as age of aircraft, stability of purchaser’s finances, origin of buyer, etc, but there is general acceptance that the industry is regaining value.” She says that the show is a marvellous opportunity to wander around and gauge the business feeling. www.gatesandpartners.com www.ebace.aero
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