Air Lease Corporation, Executive Chairman, Steven Udvar-Házy at the CAPA Airline Leader Summit World 2024
Air Lease Corporation, Executive Chairman, Steven Udvar-Házy spoke to CAPA TV at the CAPA Airline Leader Summit World 2024, in Belgrade, about latest industry trends and company developments.
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Transcript
Speaker 1 (00:11):
Well, I think the pandemic was much more severe on the airline industry and transportation in general than anyone had forecast. I remember talking to airline CEOs saying, oh, this is going to last four months, six months, and then we're back to normal. So the severity and all of the government restrictions on travel mobility really impacted the industry very deeply. But at the same time, everyone thought the recovery would take much longer. So while that period was very severe and its impact on the industry, the recovery was also very welcome development because it occurred in a much faster, more aggressively to pre pandemic levels than we thought. While barring big geopolitical events like Ukraine where the European and Asian airlines can't overfly Russia, it's been a huge cost factor. Barring things like that, we see a nice steady climb as long as costs can be under control. I think there's a lot of challenges, airport restrictions, congestion, air traffic control, inefficiencies, too much government interference, and the capital markets are still a little nervous about the stability of the airline industry. So airlines have to pay a premium because they have not shown consistency in their return of capital.
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