Structural shift in aircraft financing giving advantage to lessors with access to unsecured debt
Aircastle's ability to tap capital markets, and notably raise unsecured debt, has given the lessor a major advantage at a time when bank financing has tightened significantly. Aircastle perceived the retraction of bank capital from the market and has enhanced its capital structure since 2009-10 to enable the firm to get the best credit rating possible with U.S. capital markets becoming increasingly important sources of funding, writes Kennedy O'Brien.

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