飞机租赁公司不再是以前的“减震器”

在过去的危机中，飞机租赁公司在航空公司长期取消合约的情况下，继续按订单接收飞机，从而吸收了对航空业的冲击。但越来越明显的是，飞机租赁公司已不再是以前的“减震器”。

In past crises, lessors absorbed the shocks to the industry by continuing to take delivery of aircraft on order when airlines had long been canceling their commitments. But it is becoming clear that lessors are not the “shock absorber” they once were.

原因相对简单：向航空公司租赁飞机的商业模式是基于并非所有航空公司都会同时遭受损失的假设。如果某一地区的一家航空公司正经历一段艰难时期，飞机可以飞往另一地区的运营商。在这个行业目前所面临的情况下，所有客户都会同时遭受损失，因此这种模式是不可行的。

There is a relatively simple reason for this: The business model of leasing aircraft to airlines is based on the assumption that not all airlines will suffer at the same time. If one airline in a specific region is going through a rough period, aircraft can go to an operator in another region. That model is not viable in the situation the industry is currently experiencing, one where all customers suffer simultaneously.

由于新冠肺炎爆发，飞机租赁公司现在的行为与航空公司近20年前的行为一样，在他们认为必须和可能的地方推迟或取消订单。

As a result of the pandemic, lessors are now behaving in the same way that airlines did nearly 20 years ago, deferring or canceling orders wherever they feel they must and have the opportunity to do so.