Jetrader - Spring 2017 - 12

HH Kapital is Heinemann's newest
venture, a privately held investment
group working in aviation and real estate.

JT: What plans do you have for HH Kapital
Group?
KH: HH Kapital is privately held, and
the initial idea was to invest in distressed
aviation assets. However, there have been
none since 2012, so we refocused the group
into distressed real estate in Spain, which
is the reason I live there now. It's proven
to be something new and different.
JT: How does HH Kapital Group operate
successfully?
KH: Ultimately we operate the
same way you successfully operate in

aviation assets - finding the right assets
at distressed prices, developing them and
playing the cycle.
JT: For Boeing's Current Aircraft Finance
Market Outlook for 2017, $126 billion will
be required to finance aircraft purchases.
How do you see the market remaining the
same or changing throughout next year?
KH: I am very encouraged by the broadening of the institutional investor base,
both regionally and globally, that is prepared to learn about our industry and invest
in its assets. This investor base, together
with traditional bank lending, will deal with
the necessary funding requirements. I have
never believed in the so-called "funding
gap" often mentioned by some.
JT: The Asia Pacific market has helped
stimulate the growth of the industry over
the past several years. However, there are
only a finite number of markets left to
spur such development. How do you think
the industry will adapt as new market
growth stagnates?
KH: As long as emerging markets create
more wealth for more of their population,

aviation will remain a growth industry. If
you look at the number of Americans or
Europeans flying on a regular basis versus
their emerging market counterparts, you
will understand the remaining potential.
JT: In the more immediate future, what
markets do you see growing and becoming hot spots?
KH: I remain a big believer in China, I
believe their growth will continue to drive
aviation growth.
JT: The aviation industry thrives on
international interaction and businessmaking, but recent populist rhetoric
in countries like the U.K. and U.S. are
against globalization. Do you think the
aviation industry faces a threat from
this rhetoric? If so, how can the industry
address it?
KH: Not only aviation is endangered
by this anti-globalization rhetoric, which
denies the ultimate truth that we are all
humans with equal rights and ambitions,
and that peace and sound environments
can only be created by global cooperation.
Continued on page 50

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Jetrader - Spring 2017

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