Has the commercial aviation industry finally vanquished the cycle? Even thinking such a thing sounds hubristic, but it is difficult to argue with the numbers. Since the jet age began, the market has seen a recurring pattern of roughly seven good years followed by three bad years, with deliveries in the bad years falling 30-40%. Yet since 2004, the industry has enjoyed strong growth, with the exception of last year’s hiatus (due largely to the single-aisle airliner production pause ...

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