Jetrader - Autumn 2016 - 7

® Jetrader is a quarterly publication of the International Society of Transport Aircraft Trading (ISTAT). ISTAT was founded in 1983 to act as a forum and to promote improved communications among those involved in aviation and supporting industries, who operate, manufacture, maintain, sell, purchase, finance, lease, appraise, insure or otherwise engage in activities related to transport category aircraft. Jetrader is published for: International Society of Transport Aircraft Trading 330 North Wabash Avenue, Suite 2000 Chicago, Illinois 60611 USA Tel: +1.312.321.5169 Fax: +1.312.673.6579 www.istat.org Email: istat@istat.org ISTAT BOARD OF DIRECTORS OFFICERS Marc S. Allinson Jep Thornton David Swan Dean Gerber Douglas W. Runte, CFA President Immediate Past President Vice President Secretary Treasurer DIRECTORS Gerry Butler Anthony Diaz Marilyn Gan Daniel J. Pietrzak Phil Seymour (ex-officio) Steven Townend Richard Owen Walker Damon J. D'Agostino (ex-officio) Dick Forsberg James Meyler Mary Prettyman David Sutton John W. Vitale Kostya Zolotusky ISTAT INTERNATIONAL APPRAISERS' PROGRAM BOARD OF GOVERNORS Chairman/Senior Appraiser Phil Seymour Angus Mackay Senior Appraiser John Beekman* Jeff Straebler* Richard Young Betsy R. Snyder* Mark Streeter* John Trevett Appraiser Fellow, Administrative Director, ISTAT International Appraisers' Program *These individuals are not certified appraisers. ISTAT FOUNDATION BOARD OF TRUSTEES Damon J. D'Agostino Chairman Todd Freeman Vice Chairman Marc S. Allinson ISTAT President Jep Thornton Immediate Past ISTAT President Douglas W. Runte, CFA Vice President/Treasurer TRUSTEES Robert Agnew Sigthor Einarsson Robert Gates Mary Ellen S. Jones Murrae Ross-Eskell Betsy Snyder Eddo Weijer Julian Balaam Mohamed El-Borai Peter Huijbers Michael Platt Rod J. Sheridan Andrew La Stella from the president Dear Fellow ISTAT Members, As we wrap up the summer months, I hope everyone enjoyed the beautiful weather and was able to take a break with their families. ISTAT recently hosted two great events at the Farnborough Airshow. Our traditional airshow reception at the JW Marriott Grosvenor House attracted a record 1,200 attendees. We also Marc S. Allinson, ISTAT President had record attendance at the ISTAT Chalet with over 1,100 visitors. The Chalet has proven to be an asset that the membership uses and really enjoys - and as Monday and Tuesday showed, the Chalet protected members from the elements on a "not so beautiful" English summer day. Of significant importance to me is what occurred on the closing Sunday, when we hosted 25 critically ill children and their families from Shooting Star Chase. ISTAT's Executive Director Julie Wichlin and Events Director Cynthia Cortis did an amazing job coordinating the day's activities, which included visits from several commercial and service pilots and Breitling Wingwalkers for the kids to talk to and pose with for photos. Also provided was the best "junk" food possible so these children could just be regular kids for a day. Adding to the fun, thanks to the Farnborough Airshow, was a group providing face painting and balloon animals. A couple of ISTAT officers joined in with the kids! When it was time to go home, all of the children walked away with goodie bags with items donated from a number of members. We received so many thanks from parents who thought they were just getting a spot on the grass to watch the show. They were astounded to be greeted by a police escort to the Chalet and by all the food and goodies arranged for their enjoyment. Families had a chance to be together on a sunny Sunday and were thankful for the opportunity to balance some of the stresses that come from caregiving. Each year, this is by far the most satisfying ISTAT moment for me. The year may be more than half over, but with two big events to go, we still have several more opportunities for you to connect in 2016. First up is ISTAT Europe, which returns to Barcelona 25-27 September. The conference planning committee has an outstanding schedule of events in place, which includes topical industry panels, ample networking opportunities (including an evening at the Maritime Museum) and a new wine tour and cycling event to get things started! After ISTAT Europe, we are hosting our second ISTAT Latin America Forum on 9-10 November in Panama City. This intimate event hosted 150 people last year and we hope it will grow and further prosper in 2016 - I know it will with your help! Finally, wrapping up the year as we always like to do, ISTAT will offer six holiday receptions around the globe in Dublin, Hong Kong, London, Miami, New York and Tokyo - all on 7 December. You can find schedules and additional details on all of our remaining 2016 events on the ISTAT website. In the meantime, please enjoy this issue of Jetrader. You will find many articles on industry topics, including a full recap of the Farnborough Airshow, how Latin American airlines are managing current challenges, two new pieces that dig into the ISTAT and Jetrader archives (this issue features ISTAT Europe photos and "going green") and much more! I look forward to seeing you in Barcelona! INTERNATIONAL SOCIETY OF TRANSPORT AIRCRAFT TRADING Julie Wichlin Executive Director Ben Barclay Operations Manager Cynthia Cortis Conference Director Crystal Ligda Marketing Manager Jetrader * Autumn 2016 7 http://www.istat.org

Table of Contents for the Digital Edition of Jetrader - Autumn 2016

A Message from the President
Calendar/News
Q&A: Mike Williams, Jetaire Group
Wish Upon a Star
Sunshine, Rain and Mixed Feelings
ISTAT’s 2016 Farnborough Airshow Chalet and Reception Continue to Achieve Record Attendance
Legal Status of Aircraft Engines and Effects on Financing and Leasing Transactions
Survival of the Fittest
Weathering Economic Gusts: Copa Airlines’ Pedro Heilbron Advocates Flexibility and Smart Growth
5 Places to Visit While Attending the ISTAT Latin America Forum
From the ISTAT Photo Archives
From the Jetrader Editorial Archives
Aviation History
Aircraft Appraisals
ISTAT Foundation
Advertiser Index
Advertiser.com
Jetrader - Autumn 2016 - cover1
Jetrader - Autumn 2016 - cover2
Jetrader - Autumn 2016 - 3
Jetrader - Autumn 2016 - 4
Jetrader - Autumn 2016 - 5
Jetrader - Autumn 2016 - 6
Jetrader - Autumn 2016 - A Message from the President
Jetrader - Autumn 2016 - 8
Jetrader - Autumn 2016 - 9
Jetrader - Autumn 2016 - Calendar/News
Jetrader - Autumn 2016 - 11
Jetrader - Autumn 2016 - Q&A: Mike Williams, Jetaire Group
Jetrader - Autumn 2016 - 13
Jetrader - Autumn 2016 - 14
Jetrader - Autumn 2016 - 15
Jetrader - Autumn 2016 - Wish Upon a Star
Jetrader - Autumn 2016 - 17
Jetrader - Autumn 2016 - Sunshine, Rain and Mixed Feelings
Jetrader - Autumn 2016 - 19
Jetrader - Autumn 2016 - 20
Jetrader - Autumn 2016 - 21
Jetrader - Autumn 2016 - 22
Jetrader - Autumn 2016 - 23
Jetrader - Autumn 2016 - ISTAT’s 2016 Farnborough Airshow Chalet and Reception Continue to Achieve Record Attendance
Jetrader - Autumn 2016 - 25
Jetrader - Autumn 2016 - 26
Jetrader - Autumn 2016 - 27
Jetrader - Autumn 2016 - 28
Jetrader - Autumn 2016 - 29
Jetrader - Autumn 2016 - 30
Jetrader - Autumn 2016 - 31
Jetrader - Autumn 2016 - Legal Status of Aircraft Engines and Effects on Financing and Leasing Transactions
Jetrader - Autumn 2016 - 33
Jetrader - Autumn 2016 - 34
Jetrader - Autumn 2016 - 35
Jetrader - Autumn 2016 - 36
Jetrader - Autumn 2016 - 37
Jetrader - Autumn 2016 - Survival of the Fittest
Jetrader - Autumn 2016 - 39
Jetrader - Autumn 2016 - 40
Jetrader - Autumn 2016 - 41
Jetrader - Autumn 2016 - 42
Jetrader - Autumn 2016 - 43
Jetrader - Autumn 2016 - Weathering Economic Gusts: Copa Airlines’ Pedro Heilbron Advocates Flexibility and Smart Growth
Jetrader - Autumn 2016 - 45
Jetrader - Autumn 2016 - 5 Places to Visit While Attending the ISTAT Latin America Forum
Jetrader - Autumn 2016 - 47
Jetrader - Autumn 2016 - 48
Jetrader - Autumn 2016 - 49
Jetrader - Autumn 2016 - From the ISTAT Photo Archives
Jetrader - Autumn 2016 - 51
Jetrader - Autumn 2016 - 52
Jetrader - Autumn 2016 - 53
Jetrader - Autumn 2016 - From the Jetrader Editorial Archives
Jetrader - Autumn 2016 - 55
Jetrader - Autumn 2016 - 56
Jetrader - Autumn 2016 - 57
Jetrader - Autumn 2016 - Aviation History
Jetrader - Autumn 2016 - 59
Jetrader - Autumn 2016 - 60
Jetrader - Autumn 2016 - 61
Jetrader - Autumn 2016 - 62
Jetrader - Autumn 2016 - Aircraft Appraisals
Jetrader - Autumn 2016 - 64
Jetrader - Autumn 2016 - 65
Jetrader - Autumn 2016 - ISTAT Foundation
Jetrader - Autumn 2016 - 67
Jetrader - Autumn 2016 - 68
Jetrader - Autumn 2016 - Advertiser Index
Jetrader - Autumn 2016 - Advertiser.com
Jetrader - Autumn 2016 - cover3
Jetrader - Autumn 2016 - cover4
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