Airline Economics magazine - Issue 87

As leaves fall, new leaders rise

Welcome to the latest edition of Airline Economics.

I love the turning of the seasons, but especially this time of year – as summer fades into autumn. There’s something about those bright, crisp September mornings and that back-to-school feeling that never quite leaves you – no matter your age.

This year, the seasonal shift was marked by a sharp disruption in the leasing market, with the news that Air Lease is being acquired by Sumitomo Corporation and its partners.

Upon reflection, following Steven Udvar-Házy’s departure as executive chair, change was inevitable. The acquisition makes strategic sense for SMBC Aviation Capital, which now edges closer to the top of the lessor rankings. Scale has long been the holy grail for lessors, offering numerous advantages – many of which we’ve explored in these pages over the years. M&A activity in the leasing space has been steadily increasing, and unless there’s further upheaval at the top, we can expect more consolidation lower down the table, as smaller players struggle to compete.

For the Airline Economics team, the new season also signals the start of our busy 2025–26 conference programme – a time that often sparks the beginnings of trading and acquisition conversations.

We kick off the Growth Frontiers series in our hometown of London, where we’ll also celebrate our 40 Under 40 Class of 2025. The individuals featured on this issue’s cover were selected for their standout achievements, career progression, and the impact they’ve made in the aviation industry. Our unique selection process relies on endorsements from clients, peers, and colleagues, offering a 360-degree view of each nominee’s talents and helping us understand what sets them apart. It’s never an easy task – we routinely receive over 120 nominations and thousands of endorsements. Once again, this year has proven that the aviation industry is brimming with talent, and the future is in good hands.

We also honour the seasoned professionals who have mentored, supported, and championed these rising stars in our 40 Under 40 Mentors section. As the working environment continues to evolve, mentoring is more vital than ever – ensuring that valuable experience is passed on while embracing new tools that help us work smarter, without losing the human touch.

Relationships are the lifeblood of the aviation industry. A handshake, eye contact, a shared joke – or more likely, a beer – are what keep this industry moving forward. Let’s continue to meet, connect, and collaborate. Join us at one of our upcoming Airline Economics Growth Frontiers events: www.growthfrontiersevents.com