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

Jetrader - Autumn 2016

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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