Andrew Shankland, Airbus’s senior vice president for leasing, highlights the diminishing importance of North America and Europe in the commercial aviation market – and the rise of the Asia-Pacific as the industry’s new mega-market. In a presentation at the International Society of Air Transport Aircraft Trading (ISTAT) conference in Phoenix, Shankland said Airbus’s backlog breaks out like this:
North America: 11%
Middle East: 11%
Latin America: 7%
The share of backlog from North America bumps up a bit if lessors are factored in, but is still no more than 30%, Shankland says.
One of those aircraft leasing companies is placing more than two-thirds of its new narrowbody jets in the Asia-Pacific. Norman C.T. Liu, president and CEO of GE Capital Aviation Services (Gecas), tells my colleague Guy Norris and I that 70% of those aircraft are going to the region – and just 10% to North America and Europe. The rest are divided among the Middle East, Latin America and Africa.