Regarding supply, Sum notes that aircraft availability continues to tighten, with adjusted storage levels at 3% in April, 120 basis points (bps) y-o-y below the 2019 level of 3.4%.
DBS Group Research’s Jason Sum notes that the aircraft leasing space is “tariff-proof” and “ready to re-rate,” as the sector’s fundamentals remain robust in the face of ongoing macroeconomic volatility.
Global air traffic continued to expand 3.3% y-o-y in March, with growth led by the Asia-Pacific region and Europe, offsetting early signs of softer demand in North America.
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