At last we can say that green shoots are beginning to appear for aviation, as airlines begin to envisage the beginnings of a recovery to a new normal, lease payments resume, and financing initiatives begin to bear fruit. Setbacks are still possible, indeed probable, but as we report across this issue there can be hope that the 'end of the beginning' is in sight. Other 'green shoot' signs: BOC Aviation has signed a purchase-and-leaseback agreement with Southwest Airlines for 10 Boeing 737 MAX 8 aircraft, all 10 aircraft being powered by CFM LEAP-1B engines. BOC Aviation has also signed a purchase-and-leaseback agreement with Wizz Air for six new Airbus A321neo aircraft; Cargo provides a ‘bright spot in a dark sky’ with new opportunities for P2F conversions; Regional aircraft and VLAs bear brunt of crisis; Ryanair and other LCCs set to seize network opportunities in Europe.