TURBULENCE ON THE AVIATION MARKET

In the 1994-2009 period the aviation market has been influenced by:

• Modification of market sharing between traditional and low-cost carriers with a strong positioning of the latter and their philosophies.
• Banckruptcy or critical financial position of major airlines like Swissair, Sabena, UsAir, Alitalia ecc.
• Closing down, merger or production conversion of aircraft manufacturers like Fokker, McDonnell Douglas, Dornier e Saab and, recently, the appearance of new eastern players.
• Strong fluctuation of demand for air transport with low peaks in conjunction with international terrorism, wars, SARS and natural disasters.
• Considerable variation of the oil price and the dollar exchange rate
• Extreme fluctuation of aircraft availability and demand, caused by all the preceeding factors, with deriving unpredictability of used prices and rentals.
• The crisi of financial system making more difficult to manage the large cash flows typical of the aviation field

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