The scale and shape of the crisis begins to emerge - and it is not an encouraging picture. Liquidity issues are to the fore, but most lessors and certain airlines are set to emerge strongest from the inevitable cull. At the same time the aviation complex as a whole must look to a relative downgrade for a time in capital markets. Cowen managing director and senior research analyst Helane Becker predicts that it will take perhaps 18 to 24 months for traffic to start to recover and much longer for any kind of return to normalcy in an interview with Aviation Finance. Also: Stronger airlines well positioned to grasp opportunities in post-pandemic world.

As the Covid-19 crisis unfolds , leasing companies are adjust their tactical and strategic decision-making. With fleets being grounded airlines are seeking relief from lease commitments and capital expenditure programmes are grinding slower. Airlines are prioritising cash in their businesses and in that context carriers with unencumbered aircraft assets are exploring sale and leaseback options