Aviation, rail and shipping
companies have ranked asset finance as the seventh most likely
source of funding for their business over the next two
years.
The transport sector chose
government money (45%) and shareholder equity (42%) as the most
likely sources.
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Next in line were bank debt
(35%), private equity investors (24%), capital markets (22%), and
export credit (12%).
Off balance sheet finance was
picked as a primary funding source by 10%.
The Way Ahead, Transport
Survey 2010, a research report by law firm Norton Rose,
questioned 679 transport industry representatives.
Norton Rose global head of
transport Harry Theochari said: “I thought, last year, that we
would begin to see many more new forms of finance, but this has not
been the case.
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By GlobalData“Leasing is still strong in
aviation. Rail still looks to government money. In shipping, there
have been no floats in London since 2008: people are taking active
steps to go to New York because there are no debt
markets.”
Asset finance was chosen as a
primary source of funding by 9% of aviation, 8% of rail and 12% of
shipping respondents.
It was also selected by 13%
of respondents in Asia-Pacific, a greater proportion than for any
other region.
The survey also showed that
the transport sector is more optimistic about a return of liquidity
to the market than it was a year ago.
Across all three sectors, 17%
believed that a dissipation of the crisis had begun, and 14%
expected it within 12 months.
Last year, the majority of
respondents felt that the crisis would not dissipate for at least
12 months.
Theochari also pointed to confidence in China, which is
now lending to the west, and to the Middle East, described as
having “so much money”.
