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What is Aircraft Leasing and Market Efficiency about?

This paper by Alessandro Gavazza examines how leasing in the commercial aircraft market reduces trading frictions and increases efficiency in the allocation of aircraft. It finds that leased aircraft have shorter holding durations and higher utilization compared to owned aircraft, primarily due to lower transaction costs and the behavior of high-volatility firms. The study highlights the role of lessors as intermediaries that facilitate more efficient secondary market transactions, contributing to overall p

Author

Changmin Jiang

Language

EN