The impact on aviation of the sea change that has happened over the past year in the oil market will be profound, writes AVITAS’ Adam Pilarski, one of the industry’s most respected aviation economists. “Values of aircraft will change depending on model and vintage. The attractions of new generation, more fuel efficient types will be reduced. Retirements of older aircraft will be delayed. World GDP will go up and average ticket prices will fall with lower costs”. He explains why the oil price has collapsed, and gives his assessment of what is likely to happen next.