ISTAT Jetrader - Autumn 2021 - 17

Without doubt, it will be a bifurcated recovery. First, in terms of return of
demand for short haul versus long-haul travel, I agree with the general consensus
that short haul will recover before long haul, and this is already being evidenced
with travel trends in certain domestic markets.
Second, I think there will be a significant difference in terms of how the
developed world and developing world bounce back. The global vaccine rollout is
clearly not equitable, and that will impact the timing of the recovery across the
various geographies. One can but hope that as supply issues recede, there is a
coordinated global effort that seeks to redress these challenges.
Jetrader: What are your thoughts on the current Japanese Operating Lease
market? When do you think it will return to pre-COVID-19 levels?
M-LK: Japan's long-term appetite for aviation investment via the JOL market
has been in existence throughout the cycles, albeit at varying demand levels.
As expected, we have seen a lull in demand for JOL transactions as a result of
COVID-19, but demand from certain JOL investors still exists. We expect that a
return to demand seen at pre-COVID-19 levels will be dependent on the pace of
recovery in travel and a normalizing of the market.
Jetrader: I understand you are the incoming chair of Aircraft Leasing Ireland.
Can you tell me a bit about what this role entails and what you're looking to
accomplish in terms of shaping future policy?
M-LK: I am really honored to be vice chair of Aircraft Leasing Ireland (ALI). I have
been working closely with Declan Kelly, the current chair, over the last year, and I
take over as chair of ALI in 2022. ALI
is the trade association representing
Ireland's aircraft leasing sector. The
association, launched in 2018 with
David Swan as chair, comprises 32
members. The ALI Council comprises
senior executives of the leading aircraft
leasing companies based in Ireland.
Ireland is the global center of
excellence for aircraft leasing, with
over 60% of the world's leased aircraft
managed from here. While aircraft
leasing has been a real success story
for Ireland, we work in a mobile asset
class, and we cannot afford to be
complacent about our position in the
sector. Our primary objective in ALI is to
maintain and develop Ireland's position
in aircraft leasing and associated
engagement with stakeholders. We
have had strong engagement with the
government, and increasingly at an EU
level, on policy matters that matter to
the sector. This is particularly important
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ISTAT Jetrader - Autumn 2021

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