Steven Udvar-Hazy, a pioneer of the aircraft-leasing industry, likely will emerge as the biggest buyer of planes at the Farnborough International Airshow, having placed orders worth $10 billion for his 4-month-old company, Air Lease. Udvar-Hazy said the industry is going through tremendous change and growth. "There are parts of the world that are growing in traffic, double-digit rates every year," he said. "The airlines have to replace a lot of aging aircraft, so we think this is a dynamic business with huge opportunities."

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