We're in the wrong business, folks

The international firm of lawyers Norton Rose has quizzed 154 members of the aviation community around the globe about short-term prospects for the airline industry. The results confirm what we keep hearing from aviation pundits. Just over one half of the respondents believe that some sort of recovery will take root within the next 12 months, for example. However, the survey does throw up some worrisome opinions. A whopping 90% expect 'significant' deferrals or cancellations of aircraft orders until the end of 2010. And 58% of respondents consider that their organisations are ripe for some sort of cooperation or alliance agreement with a strategic partner in the next 12 to 18 months.

If you listen carefully, you may just be able to make out the unmistakeable sound of the smacking of lips. Well, no lawyer will deny that failure to execute a contract or structuring of partnership agreements are wonderful opportunities to make money when everyone else is hanging on by fingertips.