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<br /> ISSUE SEVEN MARCH/APRIL 2012<br /> THE LEADING GLOBAL PUBLICATION FOR OPERATORS OF AND INVESTORS IN AIRCRAFT AND ENGINES<br /> Investing in engines<br /> Crackdown on OEM control?<br /> The demographic problem<br /> www.aviationnews-online.com<br /> It's not just<br /> about access to<br /> a new airplane.<br /> It's about a flexible,<br /> customised solu on<br /> that gains access<br /> to the right aircraft<br /> to support your<br /> fleet needs.<br /> It's about the exper se<br /> of an integrated staff<br /> listening to your<br /> unique business<br /> plan and goals…<br /> To deliver a solu on<br /> for your growth<br /> and success.<br /> Talk to us.<br /> Talk to AWAS.<br /> Ascending.<br /> www.awas.com<br /> EDITOR'S LETTER<br /> STILL DANCING<br /> ISSUE TWO, VOLUME TWO<br /> March/April 2012<br /> EDITOR<a title="Issue 7 March/April 12 page 1" href="http://viewer.zmags.co.uk/publication/84ac9878?page=1"> ISSUE SEVEN </a> <a title="Issue 7 March/April 12 page 2" href="http://viewer.zmags.co.uk/publication/84ac9878?page=2"> It's not just about access to a new airplane. It</a> <a title="Issue 7 March/April 12 page 3" href="http://viewer.zmags.co.uk/publication/84ac9878?page=3"> EDITOR'S LETTER STILL DANCING ISSUE TWO, </a> <a title="Issue 7 March/April 12 page 4" href="http://viewer.zmags.co.uk/publication/84ac9878?page=4"> CONTENTS 16 Start your engines </a> <a title="Issue 7 March/April 12 page 5" href="http://viewer.zmags.co.uk/publication/84ac9878?page=5"> </a> <a title="Issue 7 March/April 12 page 6" href="http://viewer.zmags.co.uk/publication/84ac9878?page=6"> NEWS Continental Airlines restarted the ca</a> <a title="Issue 7 March/April 12 page 7" href="http://viewer.zmags.co.uk/publication/84ac9878?page=7"> Long live your engine. Chromalloy repairs give </a> <a title="Issue 7 March/April 12 page 8" href="http://viewer.zmags.co.uk/publication/84ac9878?page=8"> NEWS Future of Ex-Im Bank in doubt On March 2</a> <a title="Issue 7 March/April 12 page 9" href="http://viewer.zmags.co.uk/publication/84ac9878?page=9"> At Delta TechOps, we do whatever it takes to meet</a> <a title="Issue 7 March/April 12 page 10" href="http://viewer.zmags.co.uk/publication/84ac9878?page=10"> NEWS Doric Nimrod Air Two issues £200 million </a> <a title="Issue 7 March/April 12 page 11" href="http://viewer.zmags.co.uk/publication/84ac9878?page=11"> Asset Management Remarketing Services r</a> <a title="Issue 7 March/April 12 page 12" href="http://viewer.zmags.co.uk/publication/84ac9878?page=12"> NEWS CHINA EASTERN AND QUANTAS LCC China East</a> <a title="Issue 7 March/April 12 page 13" href="http://viewer.zmags.co.uk/publication/84ac9878?page=13"> GUIDING YOUR END OF LIFE ASSET STRATEGIES </a> <a title="Issue 7 March/April 12 page 14" href="http://viewer.zmags.co.uk/publication/84ac9878?page=14"> NEWS Glowing GoldCare audit for Monarch Aircra</a> <a title="Issue 7 March/April 12 page 15" href="http://viewer.zmags.co.uk/publication/84ac9878?page=15"> </a> <a title="Issue 7 March/April 12 page 16" href="http://viewer.zmags.co.uk/publication/84ac9878?page=16"> CONFERENCE Winners at London investment forum </a> <a title="Issue 7 March/April 12 page 17" href="http://viewer.zmags.co.uk/publication/84ac9878?page=17"> NEWS Delta bids for Trainer refinery Reports </a> <a title="Issue 7 March/April 12 page 18" href="http://viewer.zmags.co.uk/publication/84ac9878?page=18"> ENGINE SURVEY Start your engines Airline Econom</a> <a title="Issue 7 March/April 12 page 19" href="http://viewer.zmags.co.uk/publication/84ac9878?page=19"> ENGINE SURVEY FIGURE 1: ENGINES V AIRCRAFT OVER</a> <a title="Issue 7 March/April 12 page 20" href="http://viewer.zmags.co.uk/publication/84ac9878?page=20"> ENGINE SURVEY because parts are life-limited a</a> <a title="Issue 7 March/April 12 page 21" href="http://viewer.zmags.co.uk/publication/84ac9878?page=21"> </a> <a title="Issue 7 March/April 12 page 22" href="http://viewer.zmags.co.uk/publication/84ac9878?page=22"> ENGINE SURVEY Aircraft Fleet as Percent of T</a> <a title="Issue 7 March/April 12 page 23" href="http://viewer.zmags.co.uk/publication/84ac9878?page=23"> WHEN YOU NEED TO HAVE THEM FLYING AGAIN </a> <a title="Issue 7 March/April 12 page 24" href="http://viewer.zmags.co.uk/publication/84ac9878?page=24"> ENGINE SURVEY FIGURE 4: COMPARISON OF FLEET </a> <a title="Issue 7 March/April 12 page 25" href="http://viewer.zmags.co.uk/publication/84ac9878?page=25"> Insight KPMG has unrivalled experience and </a> <a title="Issue 7 March/April 12 page 26" href="http://viewer.zmags.co.uk/publication/84ac9878?page=26"> ENGINE SURVEY The new-technology engines The n</a> <a title="Issue 7 March/April 12 page 27" href="http://viewer.zmags.co.uk/publication/84ac9878?page=27"> </a> <a title="Issue 7 March/April 12 page 28" href="http://viewer.zmags.co.uk/publication/84ac9878?page=28"> ENGINE SURVEY FIGURE 7: A SELECTION OF ENGINE V</a> <a title="Issue 7 March/April 12 page 29" href="http://viewer.zmags.co.uk/publication/84ac9878?page=29"> 3) Requiring the use of only mainte- nance p</a> <a title="Issue 7 March/April 12 page 30" href="http://viewer.zmags.co.uk/publication/84ac9878?page=30"> ENGINE SURVEY FIGURE 8: ENGINE TYPES FOR COMMERCI</a> <a title="Issue 7 March/April 12 page 31" href="http://viewer.zmags.co.uk/publication/84ac9878?page=31"> And the problem is getting worse. Until now ab</a> <a title="Issue 7 March/April 12 page 32" href="http://viewer.zmags.co.uk/publication/84ac9878?page=32"> HEDGING Fuel efficiency Mike Corley at Mercatus</a> <a title="Issue 7 March/April 12 page 33" href="http://viewer.zmags.co.uk/publication/84ac9878?page=33"> HEDGING </a> <a title="Issue 7 March/April 12 page 34" href="http://viewer.zmags.co.uk/publication/84ac9878?page=34"> HEDGING SURVEY Fuel hedging survey A study cond</a> <a title="Issue 7 March/April 12 page 35" href="http://viewer.zmags.co.uk/publication/84ac9878?page=35"> >150 (24%)1–24 (33%) 76–150 (5%) 25–35 (38%) </a> <a title="Issue 7 March/April 12 page 36" href="http://viewer.zmags.co.uk/publication/84ac9878?page=36"> HEDGING SURVEY No (18%) Yes (82%)</a> <a title="Issue 7 March/April 12 page 37" href="http://viewer.zmags.co.uk/publication/84ac9878?page=37"> HEDGING SURVEY 3.4 3.3 3.2 3.1 3 2.9</a> <a title="Issue 7 March/April 12 page 38" href="http://viewer.zmags.co.uk/publication/84ac9878?page=38"> FOREIGN EXCHANGE Exchange is in the air If you </a> <a title="Issue 7 March/April 12 page 39" href="http://viewer.zmags.co.uk/publication/84ac9878?page=39"> The IATA's director general, Tony Ty</a> <a title="Issue 7 March/April 12 page 40" href="http://viewer.zmags.co.uk/publication/84ac9878?page=40"> AGEING POPULATIONS State of grace Philip Tozer-</a> <a title="Issue 7 March/April 12 page 41" href="http://viewer.zmags.co.uk/publication/84ac9878?page=41"> AGEING POPULATIONS a long list of age-related </a> <a title="Issue 7 March/April 12 page 42" href="http://viewer.zmags.co.uk/publication/84ac9878?page=42"> AGEING POPULATIONS Background on ageing populati</a> <a title="Issue 7 March/April 12 page 43" href="http://viewer.zmags.co.uk/publication/84ac9878?page=43"> AGEING POPULATIONS ers leading to a marked slow</a> <a title="Issue 7 March/April 12 page 44" href="http://viewer.zmags.co.uk/publication/84ac9878?page=44"> AGEING POPULATIONS centre of this change, allo</a> <a title="Issue 7 March/April 12 page 45" href="http://viewer.zmags.co.uk/publication/84ac9878?page=45"> AVIATION CARBON TRADING MASTERCLASS 26th June 201</a> <a title="Issue 7 March/April 12 page 46" href="http://viewer.zmags.co.uk/publication/84ac9878?page=46"> CHINA A </a> <a title="Issue 7 March/April 12 page 47" href="http://viewer.zmags.co.uk/publication/84ac9878?page=47"> quality and efficiency, and the `low-cost' advant</a> <a title="Issue 7 March/April 12 page 48" href="http://viewer.zmags.co.uk/publication/84ac9878?page=48"> CHINA 919 to be a bluff, there will come a tim</a> <a title="Issue 7 March/April 12 page 49" href="http://viewer.zmags.co.uk/publication/84ac9878?page=49"> CHINA The names behind Comac: the state-owned sh</a> <a title="Issue 7 March/April 12 page 50" href="http://viewer.zmags.co.uk/publication/84ac9878?page=50"> REPOSSESSION When it's time to take control </a> <a title="Issue 7 March/April 12 page 51" href="http://viewer.zmags.co.uk/publication/84ac9878?page=51"> tract will provide for the remedies. In a standar</a> <a title="Issue 7 March/April 12 page 52" href="http://viewer.zmags.co.uk/publication/84ac9878?page=52"> REPOSSESSION (Left to right) Duncan Batc</a> <a title="Issue 7 March/April 12 page 53" href="http://viewer.zmags.co.uk/publication/84ac9878?page=53"> AEROSPACE INVESTMENT CONFERENCES 15th May 2012 - </a> <a title="Issue 7 March/April 12 page 54" href="http://viewer.zmags.co.uk/publication/84ac9878?page=54"> GECAS Standing out from the crowd GE Capita</a> <a title="Issue 7 March/April 12 page 55" href="http://viewer.zmags.co.uk/publication/84ac9878?page=55"> www.airlineeconomics.com GECAS </a> <a title="Issue 7 March/April 12 page 56" href="http://viewer.zmags.co.uk/publication/84ac9878?page=56"> GECAS BIOGRAPHY NORMAN C.T. LIU President & CE</a> <a title="Issue 7 March/April 12 page 57" href="http://viewer.zmags.co.uk/publication/84ac9878?page=57"> aircraft. The funds to purchase the air- craft we</a> <a title="Issue 7 March/April 12 page 58" href="http://viewer.zmags.co.uk/publication/84ac9878?page=58"> ETHIOPIAN AIRLINES All in it together? Afric</a> <a title="Issue 7 March/April 12 page 59" href="http://viewer.zmags.co.uk/publication/84ac9878?page=59"> Though we issue fuel surcharges, we cannot pa</a> <a title="Issue 7 March/April 12 page 60" href="http://viewer.zmags.co.uk/publication/84ac9878?page=60"> ETHIOPIAN AIRLINES PROFILE TEWOLDE GEBREMARIAM </a> <a title="Issue 7 March/April 12 page 61" href="http://viewer.zmags.co.uk/publication/84ac9878?page=61"> affect their productivity. What is your comment o</a> <a title="Issue 7 March/April 12 page 62" href="http://viewer.zmags.co.uk/publication/84ac9878?page=62"> MIDDLE EAST Lease in the Middle East </a> <a title="Issue 7 March/April 12 page 63" href="http://viewer.zmags.co.uk/publication/84ac9878?page=63"> Aircraft and engine financing in the Middle East </a> <a title="Issue 7 March/April 12 page 64" href="http://viewer.zmags.co.uk/publication/84ac9878?page=64"> MIDDLE EAST TABLE 2: AACO AIRCRAFT FLEET AIRLI</a> <a title="Issue 7 March/April 12 page 65" href="http://viewer.zmags.co.uk/publication/84ac9878?page=65"> www.airlineeconomics.com MIDDLE EAST TABLE 3:</a> <a title="Issue 7 March/April 12 page 66" href="http://viewer.zmags.co.uk/publication/84ac9878?page=66"> MIDDLE EAST TABLE 4: AACO AIRCRAFT TYPE – OWN</a> <a title="Issue 7 March/April 12 page 67" href="http://viewer.zmags.co.uk/publication/84ac9878?page=67"> TABLE 5: AACO ENGINE FLEET – OWNED AND LEASED Air</a> <a title="Issue 7 March/April 12 page 68" href="http://viewer.zmags.co.uk/publication/84ac9878?page=68"> MIDDLE EAST TABLE 7: COMMERCIAL ENGINE FLEET A</a> <a title="Issue 7 March/April 12 page 69" href="http://viewer.zmags.co.uk/publication/84ac9878?page=69"> MIDDLE EAST </a> <a title="Issue 7 March/April 12 page 70" href="http://viewer.zmags.co.uk/publication/84ac9878?page=70"> DATA COMMERCIAL AIRCRAFT CMVs AND LEASE RATES –</a> <a title="Issue 7 March/April 12 page 71" href="http://viewer.zmags.co.uk/publication/84ac9878?page=71"> AEROSPACE INVESTMENT CONFERENCES 15th May 2012 - </a> <a title="Issue 7 March/April 12 page 72" href="http://viewer.zmags.co.uk/publication/84ac9878?page=72"> It's about more than the plane. </a>