The long-term bull market in aviation was set to end in 2021 and the appearance of COVID 19 has simply hastened the inevitable, said Adam Pilarski, senior vice president, consulting at Avitas. “We were in a bubble environment, it had to burst. Since 2004 the number of aircraft delivered went up for 14 years in a row and 2019 that ended. Not because the industry became more rational, but because of the problems with OEM production, ” he said. Pilarski was speaking on Airline Economics webinar, ‘Understanding the impact of COVID and how creditors can preserve value in the airline
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