...Stable Outlook: Fitch Ratings expects stable asset and rating performance for recent vintage operating lease securitizations in the near term due to improving economies and strong global commercial air travel industry fundamentals, which should support lease collections. Increasing Issuance Volume: Eleven securitizations have been completed since the start of 2014, with many market participants expecting more in the next year. Meanwhile, enhanced equipment trust certificate (EETC) issuance has exceeded that of ABS as lessors and airlines alike seek capital market solutions to fund record upcoming deliveries. Recently, the market saw its first three `AAsf' EETC issuances since before the Great Recession. Fuel Prices Help Utilization: A continued low fuel price economy may boost utilization of lower tier or older aircraft in the near term. Additionally, if the low prices persist, current engine option (ceo) aircraft utilization may remain strong further into the life cycle of new engine option...
