The aviation industry has continued to expand steadily, due partly to economic growth in emerging countries, and also to the entry of LCCs through deregulation, etc. Although the industry was significantly impacted by the ongoing COVID-19 situation, the IATA (International Air Transport Association) forecasts that the industry will recover to the pre-COVID-19 pandemic level by 2023 to 2024 and continue to grow thereafter. Mizuho Leasing has broadly expanded its aircraft-related business, such as offering aircraft-backed loans and Japanese operating lease s since we started to offer aircraft financing in 1982 . We formed a joint venture with a major US aircraft leasing company, Aircastle Limited, in 2016, and started an aircraft operating business. We also jointly acquired all Aircastle Limited shares with Marubeni Corporation in 2020. Including this company, we have leased over 260 aircraft to airlines in various countries and they are flying around the world.
The global movement from ownership to use also applies to the aviation industry. Not only LCCs but also major airlines are trending to switch from owning to leasing of aircraft, and leasing business opportunities are ever-expanding. We will continue to expand our aircraft lease business by leveraging alliance partners’ know-how and networks. We also work to meet the needs of customers who are investors in Japan, while collaborating with Mizuho Financial Group.
The IATA (International Air Transport Association) has set an ambitious goal of reducing CO_{2} emissions to half the 2005 level by 2050. In the aircraft business, it is expected that new types of aircraft with good fuel efficiency and sustainable aviation fuel will be actively adopted. While further strengthening alliance partnerships with Marubeni and Mizuho Financial Group, we will bear the responsibility for filling some of the expanding global aircraft demand through diverse financing schemes, and contribute to the growth of society and economies, as well as help enrich people’s lives.
