Jetrader - Summer 2017 - 5

ISTAT is committed to providing its members with the
highest quality and best-value networking and education
opportunities in commercial aviation, administering the
industry's leading appraiser program, and investing
in the future through the ISTAT Foundation.
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

Douglas W. Runte, CFA
Marc S. Allinson
Dick Forsberg
David Sutton
Dean Gerber

Immediate Past President
Vice President

Gerry Butler
Marilyn Gan
James Meyler
Mary Prettyman
Jep Thornton (ex-officio)
John W. Vitale
Michael Weiss

Anthony Diaz
Gerry Laderman
Daniel J. Pietrzak
Phil Seymour (ex-officio)
Steven Townend
Richard Owen Walker
Kostya Zolotusky

Phil Seymour
Chairman/Senior Appraiser
Andy Carlisle
Rikard de Jounge
Jeff Lewis*
Bryson Monteleone
Ken Price*
Betsy Snyder*
Mark Streeter*
Jeff Straebler
John Trevett
Appraiser Fellow, Administrative
Director, ISTAT International
Appraisers' Program
*These individuals are not certified appraisers.
Jep Thornton
Damon J. D'Agostino
Vice Chairman
Douglas R. Runte, CFA ISTAT President
Marc S. Allinson
Immediate Past ISTAT President
Dean Gerber
Robert Agnew
Kristen Chmielewski
Mohamed El-Borai
Mary Ellen S. Jones
Murrae Ross-Eskell
Betsy Snyder
Eddo Weijer

Julian Balaam
Sigthor Einarsson
Peter Huijbers
Andrew La Stella
Rod J. Sheridan
David Swan

Julie Wichlin
Executive Director
Cynthia Cortis
Conference Director
Tia Crowley
Operations Coordinator
Crystal Ligda
Marketing Manager

Dear Fellow ISTAT Members:
It is with great excitement and humility that I begin my two-year term as
President of your organization. I have had the pleasure and privilege of serving on the ISTAT Board for six years, alongside past presidents Marc Allinson,
Jep Thornton, Joe Ozimek and John Vitale, who themselves followed an illustrious series of ISTAT leaders who have helped bring the organization where
it stands today. I have outlined my thoughts on the position and some of my
goals elsewhere in this publication at greater length, but I would like to reiterate here just how honored I am to have this opportunity to serve as President
of this great organization.
ISTAT finished 2016 with a constellation of holiday receptions around the
globe that had nearly 2,000 attendees worldwide. Symmetrically, we started
our 2017 series of conferences and events with record attendance at ISTAT
Americas in beautiful San Diego in March. Many thanks to Conference Committee
Chair  Kostya Zolotusky, as well as to the entire Conference Committee and
ISTAT staff for all their efforts on this event. Thanks also to our other event
volunteers, speakers, moderators and, of course, our sponsors for their support of the event.
I strongly believe that ISTAT is more than just a conference organizer; we are
a membership organization that is wholly committed to providing our members
with the highest quality and best-value networking and educational opportunities in commercial aviation. As such, ISTAT is very different from the for-profit
conferences that many of us still attend.
As part of our efforts to serve our membership, the ISTAT Board is pleased to
announce a new program that is designed to assist longstanding, active members
of ISTAT who may have lost their jobs. We recognize that few may be in more
need of networking opportunities than a person who has lost a job. We also
recognize that ISTAT conferences, ISTAT forums and ISTAT events provide an
unrivaled networking opportunity for those who are unemployed and looking for
new employment and further recognize that those who have recently lost their
job may be facing financial strain.
To provide a service to our longstanding members who may be unemployed
and in need, the ISTAT Board of Directors has approved a new program to
provide complimentary admission to certain of our ISTAT conferences, ISTAT
forums and ISTAT events to those who are between jobs and who meet certain
criteria. Those who are between jobs may contact the ISTAT Executive Director
( to determine their eligibility. Applications for this
benefit will be reviewed by the ISTAT Executive Board in confidence, which will
have sole discretion to determine eligibility.
ISTAT will relentlessly focus on providing our members with the highest
quality and best-value networking and educational events. We hope you
will  agree  that  this new program to help members between jobs is further
evidence of this focus. I look forward to serving as your President for the
next two years.

Douglas W. Runte, CFA
ISTAT President
Jetrader * Summer 2017 5

Jetrader - Summer 2017

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

A Message from the President
Q&A: Douglas W. Runte, CFA, Managing Director, Securitized Products & High Yield Research, Deutsche Bank
Printing the Future
Upward Bound
Q&A: Abdol Moabery, President and CEO, GA Telesis, LLC
Escalation and Hope — Reflections from ISTAT Americas 2017
Forward Facing: ISTAT Asia
Aircraft Economic Life
Aviation History
Aircraft Appraisals
ISTAT Foundation
Advertiser Index
Jetrader - Summer 2017 - Intro
Jetrader - Summer 2017 - cover1
Jetrader - Summer 2017 - cover2
Jetrader - Summer 2017 - 3
Jetrader - Summer 2017 - 4
Jetrader - Summer 2017 - A Message from the President
Jetrader - Summer 2017 - 6
Jetrader - Summer 2017 - 7
Jetrader - Summer 2017 - Calendar/News
Jetrader - Summer 2017 - 9
Jetrader - Summer 2017 - Q&A: Douglas W. Runte, CFA, Managing Director, Securitized Products & High Yield Research, Deutsche Bank
Jetrader - Summer 2017 - 11
Jetrader - Summer 2017 - 12
Jetrader - Summer 2017 - 13
Jetrader - Summer 2017 - Printing the Future
Jetrader - Summer 2017 - 15
Jetrader - Summer 2017 - 16
Jetrader - Summer 2017 - 17
Jetrader - Summer 2017 - Upward Bound
Jetrader - Summer 2017 - 19
Jetrader - Summer 2017 - 20
Jetrader - Summer 2017 - 21
Jetrader - Summer 2017 - Q&A: Abdol Moabery, President and CEO, GA Telesis, LLC
Jetrader - Summer 2017 - 23
Jetrader - Summer 2017 - 24
Jetrader - Summer 2017 - 25
Jetrader - Summer 2017 - Escalation and Hope — Reflections from ISTAT Americas 2017
Jetrader - Summer 2017 - 27
Jetrader - Summer 2017 - 28
Jetrader - Summer 2017 - 29
Jetrader - Summer 2017 - 30
Jetrader - Summer 2017 - 31
Jetrader - Summer 2017 - Forward Facing: ISTAT Asia
Jetrader - Summer 2017 - 33
Jetrader - Summer 2017 - 34
Jetrader - Summer 2017 - 35
Jetrader - Summer 2017 - 36
Jetrader - Summer 2017 - 37
Jetrader - Summer 2017 - 38
Jetrader - Summer 2017 - 39
Jetrader - Summer 2017 - Aircraft Economic Life
Jetrader - Summer 2017 - 41
Jetrader - Summer 2017 - Aviation History
Jetrader - Summer 2017 - 43
Jetrader - Summer 2017 - Aircraft Appraisals
Jetrader - Summer 2017 - 45
Jetrader - Summer 2017 - ISTAT Foundation
Jetrader - Summer 2017 - 47
Jetrader - Summer 2017 - 48
Jetrader - Summer 2017 - Advertiser Index
Jetrader - Summer 2017 -
Jetrader - Summer 2017 - cover3
Jetrader - Summer 2017 - cover4