ISTAT Jetrader - Winter 2019 - 52

AT A GLANCE

of investors and new leasing companies
shows how desirable the aircraft leasing
sector is. On a positive note, this has
helped drive down the costs of capital
and access to cheap financing, but, on
the flip side, the extremely competitive
nature has depressed returns and
boosted purchase prices. All of these
factors make it difficult to seek out
decent investment opportunities.

Barbara
FitzGerald

Vice President - Trading, Accipiter Holdings

Jetrader: What do you like most
about the aviation industry?
Barbara FitzGerald (BF): It's a
global industry, which makes it both
exciting and challenging. The fastpaced environment coupled with
mobile assets, different cultures and
the constantly changing landscapes
ensure we are all kept on our toes
while spinning a number of plates
simultaneously. No two deals are the
same, and so we never stop learning.
Additionally, this industry tends to
attract great people. I enjoy meeting
new people, and those who work in
aviation tend to be very self-motivated
and full of energy - the enthusiasm
and driven mindset is pretty infectious.
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Jetrader: What is the most
challenging part of your profession?
BF: While the global dynamic of the
industry is very attractive, it can also
bring an element of difficulty to your
day-to-day working environment -
whether it is getting to understand new
working processes or practices from
different cultures or operating between
a number of different time zones all
in the same day. One has to be very
organized and flexible in balancing both
personal and professional life.
Aircraft leasing has become a
very competitive space. In the current
globally low interest rate environment,
the search for yield is extremely
competitive. The ever-expanding pool

Jetrader: Who has had the greatest
influence on your career?
BF: It really would be difficult to
mention any one person in particular. I
am fortunate to have developed strong
working relationships throughout my
career. I was never one of those people
with a "five-year plan," so I was always
talking to people and asking questions
to carve out my next move on my
career path. In my experience, once you
reach out to ask for help or advice, in
general, people are very willing to give
you a few minutes, even if they don't
have all the answers. More often than
not, they did the same thing to get to
where they are today and are happy to
give some time back.
Jetrader: What was your first job?
BF: I have had quite a varied journey
to get to where I am today. With a
background in engineering, followed by
a number of years on the accounting
side, I started my aviation career on
the pricing and commercial analysis
team in SMBC Aviation Capital. It
was a great starting point for me,
and working in that area taught me
the fundamentals of evaluating a
commercial aviation deal and working
with the different market facing areas
of the business in developing financing
models and structures for transactions.
After heading up and managing the
pricing team, I pursued a role on the
commercial negotiations team and then
advanced my career into trading. My
initial broad spectrum of learning really
set the foundation for me to be able to
get where I am today.
ISTAT Jetrader - Winter 2019

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