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EPISODE 58

Musical Chairs

The forward rate curve signals relief in 2024, but lessors must first get through 2023. Airfinance Journal estimates lessor bond maturities will surge to $15 billion in 2023 from $3 billion this year. We discuss why it is important to note the movement in the weighted average cost of capital instead of the “headlines” that point to a doubling of the cost of funds. We also look at aircraft swaps between Chinese and Western lessors and how this shift differs from the events that played out for lessors following Russia’s invasion of Ukraine.