Shares in various lessors have seen quite a bit of movement lately with Aircastle, Avolon, Air lease and FLY all trading up, and why not, with interest rates going nowhere in the immediate term and cheap money flooding the industry there really is no doubt that we might look back on 2015 as the high water mark for the leasing sector. Much of this driven by low oil prices giving lessors the opportunity to trade older aircraft at good rates of return. But in all this we cannot lose sight of the fact that in eight-to-12 years’ time there will

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