Bernstein flags potential for more aircraft deferrals, excess capacity

Bernstein Research raised concerns that while passengers are returning to the skies, the large number of aircraft to be delivered in 2009-10 potentially could lead to excess capacity over the next two years and thus more deferrals. In a report issued Friday, the firm said that while the cyclical case for buying commercial aircraft OEM stocks is good, the industry has not yet turned the corner on the cycle. "Airline yields remain down and airline profitability is a long way off," the report ...