LEA Sees Recession As an Opportunity for Growth
London Executive Aviation predicts that greater activity in its aircraft management business and resilient charter demand for its large-cabin fleet will help the company maintain comparatively strong performance during the current recession. In particular, the UK company, which is exhibiting here on the EBACE static display, expects to gain market share in aircraft management, “as smaller competitors succumb to economic pressures,” according to managing director George Galanopoulos. He said LEA has already seen smaller aircraft management companies fail, with the result that new clients are being added to his firm’s fleet. ”We believe that aircraft prices are now at rock bottom [and] barring the odd fire sale, they won’t go any lower. We’ve already seen an increase in inquiries about buying aircraft and we expect this to continue,” he said.