Aircraft Values Continue to Benefit From a Supply-Constrained Market
By ISTAT Staff
04 August 2026
Aircraft values and trading strategies continue to evolve as airlines adapt to constrained aircraft availability. Throughout ISTAT Asia, held 12-14 May in Bangkok, Thailand, appraisers, aircraft traders and lessors discussed how persistent supply constraints are influencing portfolio management, valuation methodologies and investment decisions across the industry.
A Different Valuation Environment
The Appraisers Panel explored how today’s market differs from previous aviation cycles.
Olga Razzhivina, ISTAT Certified Senior Appraiser and director at Oriel; Oliver Stuart-Menteth, ISTAT Certified Senior Appraiser and managing director at Fintech Aviation Services; and Mike Yeomans, ISTAT Certified Senior Appraiser and head of advisory services at IBA, discussed the evolving role of aircraft appraisals in a market where persistent supply constraints continue to influence values. Rather than relying solely on historical market behavior, appraisers increasingly are evaluating how delayed deliveries, extended aircraft utilization and shifting demand affect long-term asset performance.
Panelists noted that the market remains highly segmented. Demand continues to be strong for many in-production narrowbody aircraft, while values for certain widebody and older aircraft have benefited from airlines extending fleet lives as replacement aircraft remain difficult to obtain. That has required appraisers to place greater emphasis on current market conditions alongside traditional valuation methodologies.
The discussion also highlighted the growing importance of market intelligence. As transaction activity evolves and aircraft remain in service longer than originally anticipated, appraisers are relying on a broader range of data to assess asset values and identify emerging market trends.
Trading Strategies Continue to Evolve
Those same market conditions are reshaping aircraft trading.
During the Asset Trading Panel, David Byrne, vice president of leasing and trading of LIFT at GA Telesis; Terry Choi, managing director of aircraft trading and pricing at CALC; Barbara FitzGerald, senior vice president of portfolio management and origination at High Ridge Aviation; and Sylvia Li, vice president of aircraft trading of Aviation Capital Group described an active market supported by strong airline demand and limited aircraft availability.
Rather than focusing solely on acquiring new aircraft, market participants discussed growing interest in repositioning existing assets, extending leases and identifying opportunities within the midlife fleet. Aircraft that might previously have been considered transitional assets are now playing a more significant role in helping airlines address immediate capacity needs while awaiting new deliveries.
Panelists also emphasized that successful trading increasingly depends on understanding regional demand, maintenance status and fleet requirements. With fewer aircraft immediately available, buyers and sellers are taking a more strategic approach to transactions, often evaluating opportunities well in advance of lease expirations or planned fleet changes.
Long-Term Fundamentals Continue to Support Values
Many of those themes resurfaced during the Global Lessor Leaders Panel.
John Evans, CEO of Azorra; Paul Kent, chief commercial officer at BOC Aviation; Mike Poon, CEO of CALC Group; and Jonathan Skirrow, co-CEO of Lesha Aviation Capital, discussed how constrained supply continues to influence aircraft demand across multiple market segments. While acknowledging ongoing geopolitical and economic uncertainty, panelists noted that strong passenger demand and delayed aircraft deliveries continue to support leasing activity and reinforce the value of existing portfolios.
Adam Pilarski, president of AVITAS, echoed that perspective during his “State of the Industry” presentation, noting that long-term demand for commercial aircraft remains underpinned by continued traffic growth across Asia and other emerging markets. While supply chain challenges have complicated fleet planning, they have also contributed to a market where existing aircraft continue to play an important role in supporting airline growth.
Watch a segment from the Global Lessor Leaders Panel below:
All ISTAT ONLINE OFFERINGS