Jetrader - November/December 2012 - (Page 17)
Seek to Improve Knowledge Base
Events offer ‘two-way’ street opportunities as ISTAT looks to make continuing education more robust
There are several paths that can lead toward becoming a commercial aircraft appraiser. However, there’s no clear road to gain and maintain the knowledge and expertise required, particularly as the profession has grown since the founding of ISTAT’s International Appraisers Program in the late 1980s. Fortunately the aircraft appraiser’s role in the industry’s valuations chain continues to be recognized, and as 2013 approaches, the profession ﬁnds itself focused on improving the educational journey, and thus the appraiser’s standing, in an effort pairing ISTAT and its industry members. The company this year highlighted progress on its 787 Dreamliner deliveries and exposed attendees to its 737-900ER, and its new Boeing Sky Interior, with the help of customer, United Airlines. “A lot of appraiser education results from the fact that they’ve worked at OEMs or airlines or elsewhere for many years,” said Bruce Nicoletti, Aircraft Valuations Analysis director at event host, Boeing Capital Corporation, and a member of ISTAT’s Appraisers Board of Governors. “Much of their education is on-the-job training. In addition, they’re trying to increase the amount of additional education they have by attending events like ours where we bring inside and outside experts to talk about products and issues. We see what we do as ﬁtting perfectly with that they’re trying to do,” Nicoletti added. The company appreciates that, in the process of aiding appraiser education, it also yields valuable relationship results. “Our ﬁrst goal is that we want to ensure they have the most accurate data on all of our product offerings, and we don’t want any misinformation to contribute to ﬂawed valuations,” Nicoletti said. “Beyond that, we really value good relationships with these folks. It will beneﬁt all around, as they’ll be more likely to have conversations with us when they have questions or concerns as opposed to acting on their own. It’s a two-way street.” The company’s view is echoed by the experience of appraisers like Doug Kelly, vice president-asset valuation at consulting ﬁrm, Avitas, Inc. and an ISTAT senior appraiser, who attended a recent event.
For some time, the appraisers’ community has relied in part for their continuing education on forum or conference events organized by the aircraft OEMs (Airbus and Boeing among others) and aircraft engine makers (including GE, CFMI, Pratt & Whitney and Rolls Royce). These are typically annual events that sometimes mix appraisers with other stakeholder audiences and aim to provide product updates and other notable developments. Take Boeing’s recent 2012 Appraisers Forum, held at the company’s manufacturing facilities near Seattle, Wash. This year’s event hosted an audience of more than 40, nearly all of whom were appraisers with some level of ISTAT certiﬁcation or involvement.
Attendees at Boeing’s 2012 edition of its annual Appraisers Forum pose for the camera during a stopover at Moses Lake, Wash., during a ﬂight aboard a new 737-900ER just before its delivery to United Airlines. The carrier provided the airplane, featuring the new Boeing Sky Interior, for market survey purposes and to better acquaint the appraisers and analysts with the new cabin design, inspired by the 787 Dreamliner. (Boeing photo by Greg Thon)
Table of Contents for the Digital Edition of Jetrader - November/December 2012
A Message from the President
Q&A: Peter Barrett
ISTAT Europe 2012
State of the Regions: Middle East
A Day at the Races
Appraisers Seek to Improve Knowledge Base
Jetrader - November/December 2012