ISTAT Jetrader - Spring 2022 - 17

69%
of the audience felt Boeing
has a better widebody
product family.
58%
LEFT: Bryson
Monteleone,
ISTAT Appraisers
program chair and
senior adviser
at PwC Ireland,
providing an
update on the
ISTAT Appraisers
Program.
of the audience responded
that the Boeing 777X will
deliver more aircraft over
the life of the program
(versus the A350).
47%
The Appraiser Panel participants discussed
learnings over the past year, inflation and the pandemic's
effect on Base Values, and the recovery timeline.
In advance of the Appraisers Panel, Bryson Monteleone, ISTAT Appraisers
Program chair and senior adviser at PwC Ireland, provided an update on the ISTAT
Appraisers Program. He noted that the program had a busy year and has been
steadily growing, increasing by 24% since January 2019 to 114 members. Going
forward, Monteleone said, the program plans to ensure candidates and appraisers
have access to a dashboard of resources and educational opportunities; provide
a safe and effective testing regimen; focus on the evolving ESG landscape and
what that means for current and future valuations; and promote on-site technical
opportunities for program members to enhance their skills.
Monteleone then stepped into the moderator role, where he was joined by a
panel comprising George Dimitroff, head of valuations at Ascend by Cirium; Pooja
Gardemal, managing director at BK Associates; Jim Morrison, head of portfolio
management at Avolon; and Lindsey Webster, vice president of asset valuations
at mba Aviation. The panelists discussed learnings over the past year, inflation
and the pandemic's effect on Base Values, and the recovery timeline. Dimitroff
said he thought inflation would have " some impact " because " Aircraft have failed
to keep up with inflation for the past 30 years. I don't believe that the aircraft
manufacturers can increase pricing as fast as the basket of goods. There will be
of the audience thought
101-150 777-300ERs would
be converted to freighters
over the next 20 years.
impact, but it will not keep up with
general inflation. "
Gardemal also said she believed
inflation would affect Base Values. " The
issue I have with Base Values is we
have so much inflation that is coming,
and that is a dangerous thing. We hit
6.5% last month, and it's going to go
up. What does that mean for aircraft
values? " For her part, Webster said
inflation is a factor for aircraft values,
but it's not the only one.
The panel was also asked which
aircraft they would recommend an
airline buy at their own firm's Current
Market Value. Three of the four
panelists said the MAX 8; Gardemal
said the A321neo XLR.
Jetrader * SPR I NG 2022 * 1 7
ISTAT Jetrader - Spring 2022

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