Bank predicts massive deferrals in jet deliveries
A survey by Swiss banking giant UBS has revealed that only half of polled airlines have secured financing for aircraft deliveries this year and 2010, and nearly 30% are likely to defer deliveries as financing conditions deteriorate.
"Nearly all of our respondents are due to take new aircraft deliveries over the next 12-18 months with only half indicating that they have secured financing," the report from UBS indicated, according to Agence France-Presse.
"Overall, financing looks to have deteriorated from our prior survey with 60 percent now indicating that they don't believe financing is currently available."
The survey, released this month, covered small and large airlines worldwide, including nearly a third of those operators that have more than 100 aircraft in their fleets. UBS stated that 40% of the airlines surveyed came from Europe, 25% from North America and 25% from Asia.
Middle Eastern airlines, generally speaking, are retaining their huge order books; Gulf Air has recently even added another tranche of 787s. In February, however, Dubai-based leasing company LCAL decided to cancel 16 787s, although it did not cite financing concerns as being the reason behind the move.
Neither Boeing nor Airbus have officially revealed exactly how many aircraft have been deferred.