ISTAT Jetrader - Summer 2019 - 17

LEFT: Daniel Pietrzak, ISTAT Americas
chair, offers the opening remarks at ISTAT
Americas 2019.
BELOW: The Three Wise Men Panel featured
(from left) Peter Negline, head of strategy
and market research, BOC Aviation Limited;
Dick Forsberg, head of strategy, Avolon; and
Shane Matthews, head of strategic and market
analysis, SMBC Aviation Capital.

any huge cause for alarm. "The U.S.
Boom-Bust Barometer shows the real
economy is resilient. We're not seeing
anything in the data that shows a
recession is imminent."
Following that panel, John Feren of
L3 Technologies moderated the Engine
Panel with Bill Brown of GE Aviation,
Paul Finklestein of Pratt & Whitney,
Gael Meheust of CFM and Richard
Goodhead of Rolls-Royce plc. Each speaker provided an update on engine orders
and deliveries as well as what is on the horizon for each OEM.
Airbus and Boeing also provided updates to attendees. Both Christopher P. Jones
of Airbus and Randy Tinseth of Boeing paid their respects and offered words of
compassion to those who lost their lives in the Ethiopian Airlines crash on 10 March
2019. Jones went on to detail the A220, A320, A321LR, A321neo/A330neo, A330,
A330neo and A350 XWB. Tinseth detailed the 777, 737 MAX 10 and 787 Dreamliner.
After lunch, the Airline Panel commenced with moderator John Willingham of
Macquarie and speakers Jude Bricker of Sun Country; Pam Hendry of United; Ursula
Hurley of JetBlue Airways; and Daniel Pietrzak, formerly of Delta Air Lines. The
discussion focused on the topic of leasing versus buying aircraft and whether airlines
prefer new or used. The panel also asked the audience about the framework to limit
growth in carbon emissions on international flights (CORSIA). Thirty-seven percent
support it; 13 percent oppose; and half of the audience was unfamiliar with CORSIA.
During the Appraisers Panel, moderator Justine Fisher of Goldman Sachs spoke
with Geuric Dechavanne of Collateral Verifications LLC; Jeff Lewis of Fortress
Investment Group; John Mowry of Alton Aviation Consultancy; Lindsey Webster of
Morton Beyer and Agnew; and Kimberly Higgins Bergin of AVITAS Inc. The group
spoke about different assets, with Lewis stating: "The A220-300 is the most

LEFT:
Christopher P.
Jones, head
of sales and
marketing at
Airbus, speaks
during the
Airbus/Boeing
presentation.

undervalued asset in the industry. That
airplane is an absolute game-changer.
In 12 months from now, it'll be reflected
in the order book." Lease rates were
also a big topic, with Webster saying
she's seen strong lease rates for
engines lately. "The engine market
is fragmented. If you're looking at
current generation, we've been seeing
$70,000-90,000/month lease rates.
We're seeing a shortage of parts. Some
of the lessors are preferring to do longterm lease rates. Engines in general are
becoming more expensive to operate
and own," she said.
The Trading Panel focused on the
market over the past 12-18 months.
Pete Seidlitz of Bristol Associates
moderated a panel made up of Daniel
Jetrader

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ISTAT Jetrader - Summer 2019

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