What's coming out of the American airlines bankruptcy, what capacity they will share and they will share some, will be obsolete aircraft to go to the desert and don’t have any displacement effect on us or our peers. I view the bankruptcy as insignificant in our prospects. There may be some deal opportunities that come as they look to refinance some things coming out of bankruptcy, but in the short term none of the equipment that’s coming out is going to affect our market and we have no direct exposure.But the U.S. airlines in some respect are a little bit like the European flag carriers. They don’t -- the Europeans do a little bit more in the way of leasing. Air France for example, which has a fine credit, as a policy matter leases a quarter and a third of its fleet, for fleet flexibility reasons. And so I think the market share of the pie is going to grow. For of all this illustrates the long-term growth trends here are significant but I will come back to the near-term.
Aircastle's CEO Presents At Credit Suisse 2011 Aerospace & Defense Conference (Transcript)
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