Jetrader - Spring 2017 - 50

advertiser.com
Aeronautical Engineers Inc ............................................ www.aeronautical-engineers.com ............................................................. Inside Back Cover
Airbus S.A.S.................................................................................. www.airbus.com ....................................................................... Outside Back Cover
Aviation Partners Boeing ................................................ www.aviationpartnersboeing.com ................................................................................. 6, 13
CAVU Aerospace, Inc..............................................................www.cavuaerospace.com ...........................................................................................34
Certified Aviation Services (CAS) .........................................www.certifiedaviation.com .......................................................................................... 19
CFM International, Inc. .........................................................www.cfmaeroengines.com...................................................................Inside Front Cover
DAE Industries .............................................................................. www.daeind.com ..................................................................................................25
EFW ................................................................................................. www.efw.aero ....................................................................................................43
GCAM .................................................................................. www.gcam-maintenance.com ........................................................................................24
Greater Fort Lauderdale/Broward Alliance ............................. www.lesstaxing.com ............................................................................................... 11
International Aircraft Associates, Inc. .............................www.internationalaircraft.com........................................................................................45
ITS ................................................................................................ www.itsparts.com ................................................................................................. 12
Jet Yard, LLC.................................................................................www.jetyard.com..................................................................................................38
Jetaire Flight Systems, LLC.....................................................www.jetairegroup.com..............................................................................................34
Magellan Aviation Group .......................................................www.magellangroup.net ............................................................................................ 19
MTU Maintenance Hannover Gmbh.................................................www.mtu.de ..................................................................................................... 17
Novus Aviation Capital ..................................................................www.novus.aero ..................................................................................................47
PEMCO World Air Services........................................................ www.PEMCOAir.com ............................................................................................... 15
Pratt & Whitney ............................................................................ www.pw.utc.com ....................................................................................................4
Precision Aircraft Solutions .................................................www.precisionaircraft.com .......................................................................................... 18
Rolls-Royce North America ...................................................... www.rolls-royce.com ......................................................................................... 30-31
Shannon Engine Support ..................................................................www.ses.ie ......................................................................................................48
Spire Flight Solutions............................................................. www.WorldFuelColt.com .............................................................................................9
Wilmington Trust, N.A. .......................................................... www.wilmingtontrust.com .............................................................................................3
Continued from page 12
Our industry will play its part by continuing to bring people
together around the globe, and there is no better way to fight
narrowmindedness!
JT: The aviation industry has been experiencing an up-cycle.
In the event of a down-cycle, how do you think companies
could prepare to avoid massive loss?
KH: That is always a tough one. My view has always been that
openness with our investors and sound original investments are
the best protection. Sometimes a down-cycle and hopefully limited losses are necessary to refresh investment discipline among
investors, which is ultimately a good thing for the industry.
JT: Airline consolidation is occurring in real-time, with
Alaska's recent buyout of Virgin America being the

most recent notable example. Does the leasing industry
stand to gain more from airline fusion or more and new
airline options?
KH: I firmly believe that consolidation, both among airlines and
also among lessors, creates more financially stable entities, and
that is good news for everybody. Such consolidation will continue
to allow for further broadening of the global institutional investor
base investing in aviation assets.
JT: Your awarding of the ISTAT Award recognizes a fruitful career in the industry spanning decades. What advice
would you pass on to newcomers to the industry aspiring
for similar success?
KH: Be in it with your soul, don't try to pull a fast one with
your investor base, and enjoy the ride into the future!

50 The official publication of the International Society of Transport Aircraft Trading


http://www.advertiser.com http://www.aeronautical-engineers.com http://www.airbus.com http://www.aviationpartnersboeing.com http://www.cavuaerospace.com http://www.certifiedaviation.com http://www.cfmaeroengines.com http://www.daeind.com http://www.efw.aero http://www.gcam-maintenance.com http://www.lesstaxing.com http://www.internationalaircraft.com http://www.itsparts.com http://www.jetyard.com http://www.jetairegroup.com http://www.magellangroup.net http://www.mtu.de http://www.novus.aero http://www.PEMCOAir.com http://www.pw.utc.com http://www.precisionaircraft.com http://www.rolls-royce.com http://www.ses.ie http://www.WorldFuelColt.com http://www.wilmingtontrust.com

Table of Contents for the Digital Edition of Jetrader - Spring 2017

A Message from the President
Calendar/News
Q&A: Klaus Heinemann, Partner, HH Kapital BV
Forecast for the Global Economy and Aviation in 2017: Turbulence Ahead
Reaching the Peak: Asian Airline Analysis
ISTAT Finishes the Year Strong with Two Global Events
In the Beginning: The Birth of ISTAT
2017 Finance Outlook: Boeing Forecasts Diverse Sources & Players
Defining Terms: Value, Definitions, Unit Costs & More
Bright Future: An Interview with ISTAT Scholar Ada Lo
From the ISTAT Photo Archives
Aviation History
Aircraft Appraisals
ISTAT Foundation
Advertiser Index
Advertiser.com
Jetrader - Spring 2017 - intro
Jetrader - Spring 2017 - cover1
Jetrader - Spring 2017 - cover2
Jetrader - Spring 2017 - 3
Jetrader - Spring 2017 - 4
Jetrader - Spring 2017 - A Message from the President
Jetrader - Spring 2017 - 6
Jetrader - Spring 2017 - 7
Jetrader - Spring 2017 - Calendar/News
Jetrader - Spring 2017 - 9
Jetrader - Spring 2017 - Q&A: Klaus Heinemann, Partner, HH Kapital BV
Jetrader - Spring 2017 - 11
Jetrader - Spring 2017 - 12
Jetrader - Spring 2017 - 13
Jetrader - Spring 2017 - Forecast for the Global Economy and Aviation in 2017: Turbulence Ahead
Jetrader - Spring 2017 - 15
Jetrader - Spring 2017 - 16
Jetrader - Spring 2017 - 17
Jetrader - Spring 2017 - 18
Jetrader - Spring 2017 - 19
Jetrader - Spring 2017 - Reaching the Peak: Asian Airline Analysis
Jetrader - Spring 2017 - 21
Jetrader - Spring 2017 - 22
Jetrader - Spring 2017 - ISTAT Finishes the Year Strong with Two Global Events
Jetrader - Spring 2017 - 24
Jetrader - Spring 2017 - 25
Jetrader - Spring 2017 - 26
Jetrader - Spring 2017 - 27
Jetrader - Spring 2017 - 28
Jetrader - Spring 2017 - 29
Jetrader - Spring 2017 - 30
Jetrader - Spring 2017 - 31
Jetrader - Spring 2017 - In the Beginning: The Birth of ISTAT
Jetrader - Spring 2017 - 33
Jetrader - Spring 2017 - 34
Jetrader - Spring 2017 - 2017 Finance Outlook: Boeing Forecasts Diverse Sources & Players
Jetrader - Spring 2017 - Defining Terms: Value, Definitions, Unit Costs & More
Jetrader - Spring 2017 - 37
Jetrader - Spring 2017 - 38
Jetrader - Spring 2017 - Bright Future: An Interview with ISTAT Scholar Ada Lo
Jetrader - Spring 2017 - From the ISTAT Photo Archives
Jetrader - Spring 2017 - Aviation History
Jetrader - Spring 2017 - 42
Jetrader - Spring 2017 - 43
Jetrader - Spring 2017 - Aircraft Appraisals
Jetrader - Spring 2017 - 45
Jetrader - Spring 2017 - ISTAT Foundation
Jetrader - Spring 2017 - 47
Jetrader - Spring 2017 - 48
Jetrader - Spring 2017 - Advertiser Index
Jetrader - Spring 2017 - Advertiser.com
Jetrader - Spring 2017 - cover3
Jetrader - Spring 2017 - cover4
Jetrader - Spring 2017 - outsert1
Jetrader - Spring 2017 - outsert2
Jetrader - Spring 2017 - outsert3
Jetrader - Spring 2017 - outsert4
http://www.nxtbook.com/naylor/ISTS/ISTQ0418
http://www.nxtbook.com/naylor/ISTS/ISTQ0318
http://www.nxtbook.com/naylor/ISTR/ISTR0018
http://www.nxtbook.com/naylor/ISTS/ISTQ0218
http://www.nxtbook.com/naylor/ISTS/ISTQ0118
http://www.nxtbook.com/naylor/ISTS/ISTQ0417
http://www.nxtbook.com/naylor/ISTS/ISTQ0317
http://www.nxtbook.com/naylor/ISTR/ISTR0017
http://www.nxtbook.com/naylor/ISTS/ISTQ0217
http://www.nxtbook.com/naylor/ISTS/ISTQ0117
http://www.nxtbook.com/naylor/ISTS/ISTQ0416
http://www.nxtbook.com/naylor/ISTS/ISTQ0316
http://www.nxtbook.com/naylor/ISTR/ISTR0016
http://www.nxtbook.com/naylor/ISTS/ISTQ0216
http://www.nxtbook.com/naylor/ISTS/ISTQ0116
http://www.nxtbook.com/naylor/ISTS/ISTQ0415
http://www.nxtbook.com/naylor/ISTS/ISTQ0315
http://www.nxtbook.com/naylor/ISTR/ISTR0015
http://www.nxtbook.com/naylor/ISTS/ISTQ0215
http://www.nxtbook.com/naylor/ISTS/ISTQ0115
http://www.nxtbook.com/naylor/ISTS/ISTQ0414
http://www.nxtbook.com/naylor/ISTS/ISTQ0314
http://www.nxtbook.com/naylor/ISTR/ISTR0014
http://www.nxtbook.com/naylor/ISTS/ISTQ0214
http://www.nxtbook.com/naylor/ISTS/ISTQ0114
http://www.nxtbook.com/naylor/ISTS/ISTS0613
http://www.nxtbook.com/naylor/ISTR/ISTR0013
http://www.nxtbook.com/naylor/ISTS/ISTS0513
http://www.nxtbook.com/naylor/ISTS/ISTS0413
http://www.nxtbook.com/naylor/ISTS/ISTS0313
http://www.nxtbook.com/naylor/ISTS/ISTS0213
http://www.nxtbook.com/nxtbooks/naylor/ISTS0113
http://www.nxtbook.com/nxtbooks/naylor/ISTS0612
http://www.nxtbook.com/nxtbooks/naylor/ISTS0512
http://www.nxtbook.com/nxtbooks/naylor/ISTR0012
http://www.nxtbook.com/nxtbooks/naylor/ISTS0412
http://www.nxtbook.com/nxtbooks/naylor/ISTS0312
http://www.nxtbook.com/nxtbooks/naylor/ISTS0212
http://www.nxtbook.com/nxtbooks/naylor/ISTR0011
http://www.nxtbook.com/nxtbooks/naylor/ISTS0112
http://www.nxtbook.com/nxtbooks/naylor/ISTS0611
http://www.nxtbook.com/nxtbooks/naylor/ISTS0511
http://www.nxtbook.com/nxtbooks/naylor/ISTS0411
http://www.nxtbook.com/nxtbooks/naylor/ISTS0311
http://www.nxtbook.com/nxtbooks/naylor/ISTS0211
http://www.nxtbook.com/nxtbooks/naylor/ISTS0111
http://www.nxtbook.com/nxtbooks/naylor/ISTS0610
http://www.nxtbook.com/nxtbooks/naylor/ISTS0510
http://www.nxtbook.com/nxtbooks/naylor/ISTS0410
http://www.nxtbook.com/nxtbooks/naylor/ISTS0310
http://www.nxtbook.com/nxtbooks/naylor/ISTS0210
http://www.nxtbook.com/nxtbooks/naylor/ISTS0110
http://www.nxtbook.com/nxtbooks/naylor/ISTS0609
http://www.nxtbook.com/nxtbooks/naylor/ISTS0509
http://www.nxtbook.com/nxtbooks/naylor/ISTS0409
http://www.nxtbook.com/nxtbooks/naylor/ISTS0309
http://www.nxtbook.com/nxtbooks/naylor/ISTS0209
http://www.nxtbook.com/nxtbooks/naylor/ISTS0109
http://www.nxtbook.com/nxtbooks/naylor/ISTS0608
http://www.nxtbook.com/nxtbooks/naylor/ISTS0508
http://www.nxtbook.com/nxtbooks/naylor/ISTS0408
http://www.nxtbook.com/nxtbooks/naylor/ISTS0308
http://www.nxtbook.com/nxtbooks/naylor/ISTS0208
http://www.nxtbookMEDIA.com