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Airlines are being urged to diversify their sources of funding for new planes.self storage With a surge in demand for aircraft finance poised to drain liquidity in the markets, carriers are being encouraged to turn to bonds.BOC Aviation, the largest Asia-based aircraft leasing firm, said at an industry forum yesterday that a 43 per cent increase in demand for aircraft finance was expected by 2018.Aircraft purchases totalling more than US$80 billion will need to be funded this year, up 30 per cent from 2010. This figure is expected to shoot up to US$120 billion in 2018.“There will be concerns about export credit, which accounts for one-third of global aircraft finance at present,” Robert Martin, managing director and chief executive of BOC Aviation, said at the Assoc迷你倉ation of Asia Pacific Airlines’ 57th assembly of presidents in Hong Kong.The concerns arose partially from the expiry of the charter of the United States’ Export-Import Bank, Martin said. US exporters such as Boeing rely on the bank’s facilities to sell their planes overseas.Ronald Kent, Boeing commercial airplanes marketing managing director in North Asia, shrugged off the concerns. “Airplanes are assets to make money … there are ways to finance them,” he said.In Asia-Pacific, airlines were overly reliant on banks and export credits, Martin said, with the practice creating long-term budget pressures.BOC Aviation priced its first offshore yuan bond this week. The five-year unsecured notes of 1 billion yuan (HK$1.2 billion) carry a 4.5 per cent coupon rate.mini storage