Airline Economics Growth Frontiers Dubai and the Aviation 100 Middle East & Africa award winners

victoria@aviationnews-online.com
By victoria@aviationnews-online.com October 3, 2018 16:23

Airline Economics Growth Frontiers Dubai and the Aviation 100 Middle East & Africa award winners

A year ago, at Airline Economics’ Growth Frontiers Dubai conference, Monarch Airlines closed its doors; this year the fall of Primera Air was the talk of the first day. There is a growing sense that the downturn is already upon us, with the weakest airlines starting to show signs of stress. But this is early days and many are bullish that this won’t be a steep downturn, more a gentle correction. The fact that the Monarch and the Air Berlin aircraft were very quickly absorbed into the system, as well as the continuing prevalence of “hot” money for funding aircraft and airlines are enjoying bids north of 20 participants for every RFP, there is a definite delay in the market while it works out if a downturn is permanent or a blip. Reports have emerged over cocktails that winning bids on widebody aircraft are $15million over “sensible” bidders demonstrating that building market share and putting cash to work in tangible assets remains as popular as ever. Lease rate factors have also been seen to dip below 0.45, which is a concern when anything below 0.55 makes it very difficult to ensure a return on that investment. The market now doesn’t make a lot of economic sense to the old guard here, who have predicted a downturn for the past three years without any realization, which is breeding doubts in where the market will turn next.

Despite the market challenges, the delegation turned out in force to celebrate the achievements of the local industry players at the Aviation 100 Middle East & Africa awards at a glittering gala dinner at the Ritz-Carlton. The winners are listed below but the full detail of each of the deal, including comments from the companies concerned will be featured in the next issue of Airline Economics.

Middle East & Africa Airline of the Year Emirates Airline
Middle East & Africa Deal of the Year for Innovation $1.2bn leasing transaction for five Emirates A380s
Africa Lease Deal of the Year Japanese Operating Lease with Call option ( JOLCO) for one A350-900XWB delivered new to Ethiopian Airlines.
Middle East Lease Deal of the Year Gulf Air lease of five 787-9s with PDP financing from DAE Capital
Middle East & Africa Debt Deal of the Year Secured Term Loan Facility for Peregrine Aviation Finance – joint venture between AerCap & NCB Capital (Saudi Arabia).
Middle East & Africa Overall Deal of the Year Cedar Aviation Finance (CAF)
Middle East & Africa Law Firm of the Year Allen & Overy
Middle East & Africa Lessor of the Year DAE Capital
Middle East & Africa Bank of the Year Dubai Islamic Bank
Middle East & Africa CFO of the Year Jennifer Creevey (DAE Capital)
Middle East & Africa CEO of the Year Firoz Tarapore

 

victoria@aviationnews-online.com
By victoria@aviationnews-online.com October 3, 2018 16:23