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Dec 9 2019, 11:50 GMT
Ratings and price correct at time of issue
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The fundamental underpinnings of the aircraft leasing sector remain broadly positive as we enter 2020, even if the MAX has added a layer of uncertainty. In light of recent updates, we have revised our forecasts for AerCap, Air Lease and Avation. Earnings growth and valuations remain attractive, supported by the expected take-out of Aircastle at 1.2x P/B, due to complete in 2020. For further detail, see our recent report (LINK).