Jetrader - Spring 2014 - 10

Q&A

PeteList of Industry Veterans
Seidlitz
Joins the
Honored for Excellence in Aviation
Respected remarketing executive
selected for 2014 ISTAT Award
ISTAT has selected Pete Seidlitz, president of Bristol Associates, Inc., as the recipient of the 2014
ISTAT Award. The ISTAT Award is the most distinguished honor in the aviation industry and was
created in 2001 by the association to recognize individuals who have made lasting contributions
to the industry over a significant period of time. The award is bestowed annually at the ISTAT
Americas Conference. Jetrader spoke with Seidlitz about the early years of ISTAT, what he loves
about the business and what he expects for the future.

Jetrader: Can you tell us about how you
got started in the aviation industry?
Pete Seidlitz: Like many people, I came
to aviation through a fairly circuitous
route. Initially, I was in the commercial
real estate business in Chicago and subsequently became involved with a leasing
company in San Francisco, so I came to
the industry through the financial side.
Itel Corporation hired me out of Chicago to
set up a real estate company within their
equipment leasing company. It turned out
that real estate didn't make much sense for
Itel. It was a fast-growing company, so I
became involved in leasing transportation
equipment-railroad cars, containers, ships
and airplanes. I was involved in three different ventures within Itel, so my role there
morphed from financing transportation
equipment to buying future residuals in
transportation equipment. It then narrowed
into a focus on airplanes because the lease
terms were reasonably short.
As it became apparent the residuals
were attractive in aircraft, I evolved into
actually trading, buying and selling airplanes. I ended up staying in that because
it was fun. Initially, it involved a lot of
international travel, a lot of transactions
and that's how it started.
JT: What was Itel's role in the industry?
PS: Itel went bankrupt in the early '80s,
but in the equipment leasing community
it spawned a variety of different leasing

companies, as well as a large pool of professionals who became prominent players
in the leasing business. Itel was comprised
of a bunch of young guys in a fast-growing
company who were smart, but not necessarily that mature.
There's an alumni network. It's probably
more valuable in the leasing business to
have worked at Itel than to have gone to
Harvard Business School.
I worked in San Francisco and in
Washington, D.C., with them, and then
worked with a corporate aircraft trading
firm for about a year and a half. Finally,
right after the birth of my first daughter,
I decided to go out and start something
on my own.
If truth be told, I was fired, rehired
and then my previous employer went bankrupt, so I decided I might as well start a
business. Ever since that point, I've had
job security and my internal performance
reviews have been exemplary.
JT: You started Bristol Associates, Inc. in
1981. What were those first years like?
PS: At the outset, I was broke but had
a lot of energy. I found that fear was a
great motivator. Like most people who
start a company, I learned that if you knew
how hard it was going to be, you probably
wouldn't do it.
Fortunately, it has proved to be a fascinating and rewarding business. It's a function of the asset and a function of the

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

people in the business. It's either instant
gratification when you complete a deal or
instant depression when you lose a deal. It's
not linear, but that makes it stimulating.
JT: Why do you believe ISTAT is a valuable resource for the commercial aviation
industry?
PS: I've been involved in ISTAT since
its very early days. I think that one of its
core values is that it has always provided a
meaningful forum for the various parties of
interest in aviation aircraft trading, leasing
and financing. It's a great way for participants in the industry to communicate, and
more importantly, to develop friendships
as well as business relationships.
ISTAT, from its roots, has tried to keep
it fun. It's run by the members for the
members, and I think that's a great thing.
It's changed over the years as the membership and industry have grown, but it's
always been inclusive of new participants
in the industry. I also think that the ISTAT
Foundation has provided a terrific vehicle
for stakeholders in the industry to give
something back to the industry that has
provided them with a livelihood.
Early ISTAT conferences were quite lowbudget affairs (because no one had any
money to spend in an arcane business like
used aircraft sales and leasing) and very
small. The original conferences were held
because nobody else in the industry would
talk to us. At least we could talk to each



Jetrader - Spring 2014

Table of Contents for the Digital Edition of Jetrader - Spring 2014

A Message from the President
Calendar/News
Q&A: Pete Seidlitz, President, Bristol Associates, Inc.
Financial and Leasing Update for 2014
2014 Aircraft Financing— A Manufacturer’s View
ISTAT Videos Spotlight the Breadth of Aviation Careers
Lewis University Flight Team Soars Above the Competition
ISTAT Holiday Receptions Rock the Globe
Omni Air International, Inc. Contributes $100,000 to ISTAT Foundation
Aviation History
Aircraft Appraisals
ISTAT Foundation
ISTAT Members on the Move
Advertiser.com
Advertiser Index
Jetrader - Spring 2014 - cover1
Jetrader - Spring 2014 - cover2
Jetrader - Spring 2014 - 3
Jetrader - Spring 2014 - 4
Jetrader - Spring 2014 - A Message from the President
Jetrader - Spring 2014 - 6
Jetrader - Spring 2014 - 7
Jetrader - Spring 2014 - 8
Jetrader - Spring 2014 - Calendar/News
Jetrader - Spring 2014 - Q&A: Pete Seidlitz, President, Bristol Associates, Inc.
Jetrader - Spring 2014 - 11
Jetrader - Spring 2014 - Financial and Leasing Update for 2014
Jetrader - Spring 2014 - 13
Jetrader - Spring 2014 - 14
Jetrader - Spring 2014 - 15
Jetrader - Spring 2014 - 2014 Aircraft Financing— A Manufacturer’s View
Jetrader - Spring 2014 - 17
Jetrader - Spring 2014 - 18
Jetrader - Spring 2014 - 19
Jetrader - Spring 2014 - ISTAT Videos Spotlight the Breadth of Aviation Careers
Jetrader - Spring 2014 - Lewis University Flight Team Soars Above the Competition
Jetrader - Spring 2014 - 22
Jetrader - Spring 2014 - 23
Jetrader - Spring 2014 - ISTAT Holiday Receptions Rock the Globe
Jetrader - Spring 2014 - 25
Jetrader - Spring 2014 - 26
Jetrader - Spring 2014 - 27
Jetrader - Spring 2014 - Omni Air International, Inc. Contributes $100,000 to ISTAT Foundation
Jetrader - Spring 2014 - 29
Jetrader - Spring 2014 - Aviation History
Jetrader - Spring 2014 - 31
Jetrader - Spring 2014 - 32
Jetrader - Spring 2014 - 33
Jetrader - Spring 2014 - 34
Jetrader - Spring 2014 - Aircraft Appraisals
Jetrader - Spring 2014 - 36
Jetrader - Spring 2014 - 37
Jetrader - Spring 2014 - 38
Jetrader - Spring 2014 - ISTAT Foundation
Jetrader - Spring 2014 - ISTAT Members on the Move
Jetrader - Spring 2014 - 41
Jetrader - Spring 2014 - Advertiser Index
Jetrader - Spring 2014 - cover3
Jetrader - Spring 2014 - cover4
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