The outlook for operating leasing-2003, Issue 28 Apr/May 2003

Issue 28 Apr/May 2003

Although aircraft deliveries are fewer in 2003 than they were in 2000 and
2001, the portion financed by operating leasing is expected to be high.
Lessors face the problems of reduced residual values, an oversupply of
aircraft, pressure on lease rates and diminished debt availability.

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