Banks reluctant to finance aircraft purchases

19 June 2009

Tony Fernandes, founder and CEO of AirAsia, said the biggest threat to the airline industry is not the outbreak of H1N1 influenza, commonly called swine flu. "We've been through [severe acute respiratory syndrome], bird flu, tsunami, you name it," Fernandes said. "The only swine now are bankers." Airlines are struggling to deal with banks that are unwilling to finance purchases of aircraft.