毕马威：2022年航空业领袖报告（英文版）

TheAviationIndustryLeadersReport2022. RecoverythroughResilience VAirlineEconomicsKPMG www.aviationnews-online.com www.kpmg.ie/aviation Forwhat'snextinaviationKPMG NavigatingChange.Together. YourPartnerForWhat'sNext CONTENTS 2ListofContributorsandAcknowledgements ForewordfromJoeO'Mara,HeadofAviation,KPMGlreland Chapterl Airines:GettingBacktoBusiness 20Chapterl AircraftLeasing.ProvenResilience 41Chapterlll CapitalisingonCargo 47ChapterIV RightsizingtheFleet 50ChapterV AviationandtheEnvironment 56FinalThoughts THE:AVIATION.INDUSTRY.LEADERSREPORT:2022 Forthelithyearnurining.AurineEcoopricsand.KFwGhavegainedinsighitsinto.thecemmerctalaviationindustrythtoughasetlesctin-depthyinterviewswithmajoravialionleadtesthat deveintotherealchailengestacingthesectorThistepoddistlsthemainIssuesardperspectivessharedbyinoustryleadkersinoneinsightulannualpublicationduringoneotthemost diticutperodsfr.theavaionnduy EDITOR:&ALTHOR SUBSCRIPTIONENQUIRIES VAT.numbert.GB102:4185.61 VictoriaTozer-Penningtonvictoria@aviatonoows-anina.com subscriptione@aviaticrews-online.coim Copyright2022AviationNewsLtd TIGITALISSUE ArineEconomcs(hrintb1ssN20457154 CONTRIBUTORS Digitalversionproduictionby AinineEconomics(Onine)sisEN2D45-7162 Zmags ADVERTISING&SPONSORSHIP:ENQUIRIESCOVER.ARF PhilipTozer-PenningtonMartinPope phiipitiglivtaticnnerws-orsine.com PUBLISHER AttighitsraservedNopmtotthispublicationimaybe AueAgpsnpoida Almough.grent.cre.has.beentakenin.me-compianon.at AviationNewsLtdLidorKPMGdonottakearnyrescorsbstyforthevie ews.coioe.comRegisteredinEngland&Wales:7551545expressedhemein, PRODUCTIONANDONLINE DinoD'Amore dina(aviationnews-cnlirie.com Registeredaddrass SuteFrstFloorParklands,1LymeDrve TrentVale,Stoke-On-TrentSYaewW 1AirlineEconomicsAviationIndustryLeadersRepont2022www.airlineeconomics.com AIRLINEECONOMICSRESEARCH AviationIndustryGlobalLeadersReport-Contributors THANKYOUTOALLOFTHOSEEXECUTIVESWHOGAVETHEIRTIMETOASSISTWITHTHISREPORT THISLISTDOESNOT.INCLUDE:THE:MANY.INDUSTRY:EXPERTS,BANKERS,AIRLINEANDLEASINGEXECUTIVES.WHO:PROVIDEDTHEIR:COMMENTSTQ.AIRLINEECONOMICS BUTHAVEOPTEDTOREMAINANONYMOUS. KPMG ThomasBaker TomBarrett PeterBarrett HelaneBecker ChiefExecutiveOffice AviationCapitalGroup: ChiefExecutiveOfficer EngineLeaseFinanceCorporation SMBC ManagingDirector Coven n on FredBrowneDavidButierKieranCorr ChlefExecufiveOfficerChiefExecutiveOfficer AergoCapitalSeraphAviationGroupStandardChartered PatrickdenElzen ChiefExecutiveOfhcel&FoundingPorrier. ArenaAviationCapital EamonnForbes PatrickHannigan DarrenHuist MichaelInglese ChiefCommerciarOffice] VicePresldent-CommercialWarketing TitanAvlationLeasing CDBAviation BoeingCommercialAirplanes Aircastie VIEWALLVIDEOINTERVIEWSANDPODCASTSHERE WWW.AVIATIONNEWS-ONLINE.COM/AVIATION-INDUSTRY-LEADERS-REPORTI 2AinlineEcanomicsTneAviationIndustnyLeadersFepart2022www.airlineeconomics:com KPMGAIRLINEECONOMICSRESEARCH JohannJuan AengusKelly RobertKorn AliBenLmadani SeniorDirecror ChiefExecutiveOffcer President ChierExecutivgOmcer FitchRatings Aercap CarlyleAviationPartners ABLAvlation RyanMcKenna ChiefExecutiveOfficer GrifinGlobalAssetManagement PaulMeijersEVPCommercialAineruftLecsing. Trading&Financing: Airbus JanMelgaardJamesMeyler ExecutiveChairman FPGAmentum!ORiXAviaticn TimMyersJohnPluegerMarjanRiggiBetsySnyder President ChiefEvecitiveOfficerSeniorMahagingDirector Dirextor AirLeaseCorporatibn KrollBondRatingAgency VinodhSrinivasanMichaelSteen ManogingDiectorChiefConercialOficerAtasAir FirozTaraporeAustinWiley Co-head.oftheSrrucruredCredirGroupWorldwldeandPresidenf&ChierExecutive MizuhoOficer|Titan.Aviation DAECapitalSKYLeasing www.airlineeconomics.comAirhineEconomics-TheAviationIndistryLeadersReport20223 AIRLINEECONOMICSRESEARCH RECOVERYTHROUGHRESILIENCE WearedelightedtopresentyouwithourAviationIndustryFortheairlinesectormarketdisruptionwillcontinuetoprovideLeadersReport2022:RecoverythroughResilience,ThereportnewopportunityDozensofnewstart-upshaveemerged,sceking capturestheViewsofindustryleadersacrosstheleasing,airlinetobenefitfromtherecoverywithoutthefinancialscarsoftheir andbankingmarketsandincludesinputfromratingagenciesmoreestablishedcompetitors.Timewilltellinrelationtotheir andanalystseoveringtheseetor:relativesuceess OurreportlastyearlookedatthedevastationthatCOVID-19Talkingaboutoilpriceandinterestratevolatilityseemsalmost hadwreakedontheaviationsectorasitdealtwiththelargestquaintgiventhechallenigesofcovID-1g,butthesekeymetrics exogenousshocktheindustryhaseverfaced,resultinginawillreturntoprominenceasairlinescontinuetorampupactivities collapseinglobalairtravelmlinewiththereeovery.Coupledwithrisinglabourcostsand Thehopeatthistimelastyearwasthattheexpectedglobalongoingsupplychainissues,rampingupactivitywillnotbeyaceinerolloutwouldhelpdriveasharprecoveryandthatthewithoutchallenges. stickinessofinvestorstotheaviationsectorwouldremainstrong.Likepreviousdownturns,therewillbewinnersandlosers.One Alotofthesehopeshavecometopass,butchallengesstillabound.expectsthatthosefocusedonlow-costandsh