Welcome recepTIon sponsored by SMBC Aviation Capital Welcome remarks by Makoto Takashima, senior managing director, SMBC. ASk THE AuDIENCE Below are results from audience surveys taken during the presentations at ISTAT Europe 2014. The results provide an interesting look at the state of the industry and the opinions of the conference audience regarding important industry topics. The growth of the Middle East Three over the next 10 years will... Will we see further consolidation of airlines in Europe? 14 The official publication of the International Society of Transport Aircraft Trading At which ISTAT Europe Conference will we be bemoaning the capacity glut?