The exceptional challenges presented by international events remain ongoing and continue to reinforce the vital role and significance of aviation finance, both globally and regionally. What was already a hugely dynamic and complex industry continues to evolve at even greater speed as with its responses to, among others, Brexit, the COVID-19 pandemic, and the number of armed conflicts that continue to mark the landscape, including, of course, Russia's ongoing controversial military campaign in relation to Ukraine and beyond. As a result, no less than the best from the best of those legal practitioners
specialising in aviation finance has been (and will continue to be) required by the various stakeholders to support their navigation of these developments and their consequences.
In addition, we now have the ongoing imperative of addressing climate change to consider, with the juxtaposition of aviation finance firmly enveloping the whole conversation.
Glasgow 2021 was undoubtedly a watershed moment in terms of soliciting the necessary meaningful binding commitments towards decarbonisation of the aviation industry, and that is being embraced at last - IATA's commitment to "Fly Net Zero"
by 2050 is profound and sincere. However, at this stage, it is likely to be the challenges around relevant technology and the speed at which it is safely available to the commercial aviation sector that will be most determinative as to the nature of aviation finance's relationship with the financial markets and the regulators going forward. With upwards of an eye-watering US$5 trillion-worth of financing estimated to be required to reach aviation carbon-neutrality by 2050, the role of aviation finance now and going forward cannot be overestimated.
In any event, aviation finance certainly promises to continue to be the most demanding of journeys, but a stimulating and hopefully a rewarding one nevertheless, particularly in view of the stakes involved, the opportunities to make a positive impact and the abilities of all those concerned in the sector to contribute purposefully.
With all of this in mind, the invitation to participate in the Guide was unsurprisingly once more hugely well received by some of the world's leading law firms, as well as other partners involved in this latest iteration of the project.
Our sincere thanks therefore go to both Global Legal Group for their efforts and unstinting support in again bringing together such preeminent contributors, and to those involved for so generously sharing their knowledge and expertise in a single volume.
The quality and value of this edition of the Guide as an authoritative reference work for matters pertaining to aviation finance and leasing is thereby assured.
I hope you find the Guide an indispensable working companion, an interesting read in its own right, and at least as enjoyable as it has been for us in compiling it.
