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MONTH 2012
INTERVIEW
NORM
LIU
Keeping
GECAS
on top
CONTENTS Contents text CONTENTS Contents text CONTENTS Contents text
STRATEGY FOR AIRLINE BOARDROOMS WORLDWIDE ightglobal.com/ab
FINANCE Whats hot and whats
not for funding fleets in 2013
LESSORS We rank industrys
top players in our annual survey
STRATEGY How race for
investors is intensifying
FEBRUARY 2013
ABU_250113_301 1 18/1/13 13:50:12
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AirlineBiz_CFO_267x394.indd 1 16/07/2012 16:07
ABU_250113_302-003 302 17/1/13 11:33:04
Because of our unique Debris Rejection System,
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Another proven breakthrough for LEAP technology.
Foreign object damage takes years off engines, puts years on CFOs.
Our unique DRS system reduces wear and tear on both. See how cleaner living gives longer life
*
.
Visit cfmaeroengines.com
AirlineBiz_CFO_267x394.indd 1 16/07/2012 16:07
ABU_250113_302-003 3 17/1/13 11:33:26
MA B k l i a _ ma g . p d f P a g e 1 1 7 / 0 1 / 1 3 , 7 : 3 0 : 4 0 P M GMT + 0 8 : 0 0
ABU_250113_004 4 17/1/13 13:53:58
CONTENTS
fightglobal.com/ab February 2013
|
Airline Business
|
5
VOLUME 29 NUMBER 2
HOW TO CONTACT US
frstname.lastname@fightglobal.com
LONDON OFFICE
Phone +44 (0)208 652 3842
e-mail: airline.business@fightglobal.com
Editor Max Kingsley-Jones
Managing editor Graham Dunn
Content editor Alex Thomas
Publisher Mark Pilling
SINGAPORE OFFICE
Phone +65 6 780 4311
Asia managing editor Siva Govindasamy
WASHINGTON OFFICE
Phone +1 703 548 8052
Americas managing editor Stephen Trimble
SUBSCRIPTION ENQUIRIES
Phone +44 (0)1444 445454
NEW MONEY
page 23
TOUGH COMPETITORS
page 32
GAME CHANGE
page 36
AB INTERACTIVE
6 Nominate your CEO for the Airline Strategy Awards
BRIEFING
INTERNATIONAL
8 Boeings dream turns into a nightmare
9 Raiders regard Qantas with relish
AMERICAS
10 Pinnacle is thrown a lifeline
EUROPE
12 More carriers join the search for investors
13 Europes low-cost carriers are on the march
ASIA
14 Regulator unmoved by Qantas distress call
15 India looks at capital gains
AFRICA
17 Respite for SAA, but woes mount
SPECIAL REPORT
FINANCE & LEASING
24 Leasing space A graphic snapshot of the major
lessors
26 Fast learners How Chinas lease sector is building
know-how rapidly
32 Shift to the East The leasing market is seeing a
change in its investment base
36 Shaping the game How new rules for export credit
will impact airlines
40 Finding the funds Record production means more
delivery fnance
43 Lowering the risk Despite few losses in 2012,
claims will still exceed $1 billion
FEATURES
FORUM
44 All points south of the border Expansion at San
Antonio airport is being driven by Latin growth
FEEDBACK
47 Taking the American way Why Europe can learn
lessons from how the USA drove down ATC costs
49 NDC: Myth vs Reality IATA believes airline retail is in
vital need of modernisation
REGULARS
50 Market outlook Building needs sound foundations
52 Executives on the move
COMMENT
54 Safety is no accident
COVER STORY
18 View from the top
GECAS chief Norm Liu is undaunted
by competitors advances in the
operating lease market and says the
lessor will remain a leader through a
$7 billion a year investment plan
Airline Business is published monthly by
Reed Business Information.
Reed Business Information Ltd 2013. ISSN 0268-7615.
Printed in the UK by Polestar, Colchester.
Annual Subscription Rate: US$225/119
Periodicals postage paid at Rahway, NJ. Postmaster send
changes to Reed Business Information, c/o Mercury
International Ltd, 365 Blair Road, Avenel, NJ 07001.
For a full listing of RBI magazines, visit reedbusiness.com
ightglobal.com/ab
INTERNATIONAL
BPA
FINDING FUNDS
page 40
TM
Powering Travel Payment
UATP.COM marketing@uatp.com
Eliminate credit card fees
Self-funding programs
New revenue streams
Competitive market intelligence
ABU_250113_005 5 18/1/13 17:06:17
fightglobal.com/ab
NETWORK IN SAN ANTONIO
The Texan city of San Antonio
hosts Airline Businesss
premier airline and airport
route planning event,
Network USA, on 3-5 March.
The keynote speaker is Jose
Luis Garza, chief executive of
Mexican low-cost carrier
Interjet. The event brings
together airlines that serve
the US market as well as a
European, South American
and Middle Eastern carriers.
Register at:
networkusaforum.com
ASCEND ON THE WEB
Ascends analysts are hosting
a 60min webcast on
7 February for an interactive
discussion about the
immediate prospects for the
aviation industry, manufactur-
ers, airlines, the cargo market
and the fnancial sector.
Last year global passenger
traffc grew by more than 5%,
although yields did not follow
suit. However, demand for
new aircraft remains strong,
with $100 billion worth
forecast for delivery in 2013.
The analysts at Flightglobals
consultancy arm will examine
whether the markets can
break the snakes and
ladders cycle of one step
forward, one step back and
deliver a consistent trend of
progress and proft. The
webcast will be presented by
Ascends head of consultancy,
Eddy Pieniazek and his fellow
analysts. There will also be a
question and answer session.
Register to view the agenda
at: ightglobal.com/
AscendWebcast
AIRLINE BUSINESS INTERACTIVE
6
|
Airline Business
|
February 2013
MULTI-MEDIA
FINANCE INTERACTIVE
A
irline Business and avia-
tion nance specialist
DVB Bank have teamed up
for our third annual interactive
special to scrutinise this market.
Published in parallel with our
annual nancing and leasing sur-
vey in this months issue, the spe-
cial report tackles the key issues
facing the sector through an inter-
active format.
Topics explored this year
include how the leasing sector is
increasing its proportion of the
world eet, and the issue of air-
liner economic lives. The airlines
2013 nancing requirements and
the likely changes in funding
sources are also examined.
Weve asked leading experts
and analysts in the sector for their
views on these major issues.
These include Nigel Taylor of
EADS and Boeings Kostya Zolo-
in interactive format, giving snap-
shots of the largest lessors, fund-
ing sources and nancing fore-
casts by region.
Download this years Airline
Business nance interactive at:
ightglobal.com/inance13
LINE UP YOUR LEADERS
P
reparations are underway
for this years Airline Strat-
egy Awards and Airline
Business wants to hear if your
chief executive stands out as hav-
ing shown strong leadership dur-
ing what have been difcult times
for the industry. Or perhaps your
airline is among those leading the
innovation in technology, mar-
keting or the environment.
Judging is undertaken by an
independent panel of highly
respected industry professionals
that includes analysts and former
chief executives. The annual Air-
line Strategy Awards event will
take place in London on Sunday,
14 July in the stunning location of
Londons historic Lincolns Inn.
The event is invitation only,
but a limited number of places
are reserved for purchase.
See P42 of this issue for details.
To nominate your CEO and to
nd out more about the event,
visit: strategyawards.com
tusky; Bertrand Grabowski and
Bert van Leeuwen of DVB Bank
and analysts Rob Morris and Paul
Sheridan from Flightglobals con-
sultancy arm Ascend.
The online special also incor-
porates a range of data presented
Worthy winners: the 2012 Airline Strategy Awards recognised last years top leaders
EVENTS
B
illy
P
ix
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