Aviation financing “could be facing one of the most radical transformations in recent history,” says PricewaterhouseCoopers (PwC) following its report on the subject. The review notes that aircraft orders have reached “unprecedented levels” but that customers will have to compete for financing. Shamshad Ali, partner at PwC financial services, said: “There are a number of headwinds in the aircraft finance market which may make these orders more difficult to finance – and more expensive. With the cloud of economic uncertainty still hovering around Europe, we are seeing banks there retreating from the market and interest from Asian investors is increasing. We are already seeing banks from China and Japan snapping up aviation assets and we think this trend will only accelerate.” Not only did the report note the higher cost of financing, it also highlighted than many aircraft are being parted out as young as seven- to eight-years-old.