May 13th 2021: Gradual recovery in passenger traffic and continued strength in cargo is continuing to provide a backdrop for investor appetite for aviation assets, as other capital market transactions revive. The improvement in sentiment is spilling over, too, into order books of airframe manufacturers, albeit slowly, indicating that supply of aircraft assets will lag demand on the way out of the pandemic recovery. Airbus has reported good improvement in both its deliveries and orders for April this year. But even though it was the third consecutive month of order expansion for Boeing, with 17 deliveries and 25 gross orders, allowing for cancellations and conversions Boeing booked just eight net aircraft orders. It also only delivered four 737 MAX jets in April – down from 19 the previous month – after it halted deliveries due to the discovery of a new electrical problem.