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德意志銀行稱，高油價導致航空公司運力部署放緩，或將衝擊飛機租賃公司。

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-- 德意志銀行週一表示，受中東衝突引發的航空燃料價格上漲影響，預計全球航空公司運力部署將放緩，飛機租賃公司或將受到影響。 美以與伊朗的戰爭導致霍爾木茲海峽（全球最重要的原油運輸咽喉要道）的運輸中斷，能源價格飆升。 德意志銀行指出，這場衝突在美伊停火以及後來的以色列與黎巴嫩停火後暫時停止，但已將航空燃油價格推高至每加侖4美元以上。 德意志銀行分析師香農·多爾蒂週一在給客戶的報告中表示：「雖然飛機租賃公司不像運營成本較高的航空公司那樣直接受到高油價的影響，但它們會受到飛機供需變化的間接影響。我們不能忽視航空燃油價格飆升將導致全球航空公司運力部署放緩這一事實，財務狀況最脆弱的運營商甚至可能面臨停飛的風險。」 上週，美國航空 (AAL) 和聯合航空 (UAL) 下調了全年盈利預期。聯合航空當時表示，其第一季面臨許多不利因素，包括燃油支出較去年同期增加 3.4 億美元。 德意志銀行週一表示，卡達航空近期已聯繫飛機租賃公司，討論延期或降低租金支付的可能性。該行報告指出，如果其他航空公司也提出類似要求，且飛機租賃公司選擇提供此類優惠，那麼從長遠來看，新的條款對租賃公司而言可能具有淨現值優勢。 多爾蒂表示，鑑於 AerCap Holdings (AER) 擁有多元化的資產機隊，且股本回報率達到兩位數中段，其估值溢價是「合理的」。該券商也指出，飛機資產供應不足是「結構性」問題，預計將持續到本世紀末。 「鑑於飛機需求旺盛、訂單量大、盈利穩定，以及租賃合約期限長，未來現金流前景廣闊，AerCap 是參與這一主題的最佳方式之一，」多爾蒂說。

Price: $137.95, Change: $-0.14, Percent Change: -0.10%

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