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BEST OF BRITISH
01 December 2005
UK banks remain a force in the aviation finance market in the face of growing European competition. Three of the UK's most prominent bankers shared their views in a roundtable discussion.
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Airfinance Journal: Everyone seems to be getting more optimistic. How are you viewing the market?
Peter Barker, head of aircraft finance at Bank of Scotland: A rush of banks have come back into the sector which exited in 2000/01. Over that period they have been working out their problems or clearing out bad debts. There was a very strong loss of confidence by a lot of banks, which was hastened by September 11, but it wasn't just that, it was simply the cycle.
Those fair-weather lenders have come thundering back into the market because they need to generate some income. They have discovered that the one sector they no longer have exposure in is aviation, and we are now in the bizarre situation where the industry is returning to very strong health despite the problems in North America.
But there is too much liquidity chasing too few deals because...
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