The Next Aviation Downturn Won’t Start With Airplanes | EPISODE 25

VREF | The Truth About the Aviation Market · Mar 3, 2026 · 25m

Podcast: The Truth About the Market Host: Jason Zilberbrand, President of VREF

Aviation doesn’t collapse because airplanes stop flying.

It tightens when capital stops trusting itself.

The last time that happened, the trigger wasn’t an AD, a fuel mandate, or an OEM delay.

It was confidence.

In this episode of The Truth About the Market, Jason pulls the lens back from aircraft models and rate cycles to examine the force that actually moves values: institutional trust.

Because when trust fractures, liquidity doesn’t slowly fade — it vanishes. And leveraged asset classes feel it first.

Here’s…