ISTAT Jetrader - Winter 2019 - 6

Jetrader

Jetrader Editorial Board

John Vitale, Chair
President & CEO, AVITAS Inc.

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.

Thomas Heimsoth
President, Willow Aviation Services LLC

Jetrader is published for:

Douglas W. Runte, CFA
Managing Director and Head of Aviation
Research, Deutsche Bank

International Society of Transport Aircraft Trading

Marco Sterk
President, The Longbow Group LLC

330 N. Wabash Ave., Suite 200
Chicago, IL 60611 USA
Tel: +1.312.321.5169
Fax: +1.312.673.6579
www.istat.org
Email: istat@istat.org

ISTAT Board of Directors
OFFICERS
Gerry Butler

President
Kostya Zolotusky

Vice President
Mary Prettyman

Secretary
Dean Gerber

Treasurer
Douglas W. Runte, CFA

Immediate Past President
DIRECTORS
Julian Balaam
Peter Blakeney
Marilyn Gan
Paul Geaney
Gerry Laderman
Bryson Montelone
Richard Owen Walker
Daniel J. Pietrzak
Mylène Scholnick
Jep Thornton
Ye Tian (Joe)
John Vitale
Michael Warner
Michael Weiss

Bryson Monteleone*

Ronald K. Anderson

Chair
Vice Chair
Stuart Rubin*

Secretary
David Berkowitz
Andy Carlisle*
Rikard de Jounge*
Dick Forsberg
Jeff Lewis
Betsy Snyder
Mark Streeter
Jeff Straebler

Executive Director
*ISTAT Certified Senior Appraiser

ISTAT FOUNDATION
BOARD OF TRUSTEES
Jep Thornton

Chair
Damon J. D'Agostino

Vice Chair
Gerry Butler

ISTAT President
Douglas W. Runte, CFA

Dean Gerber

George Dutton

1983 - 1985
1985 - 1987
Richard L. Spaulding

1987 - 1989
Anders Folkedal

1989 - 1991
Stephen J. Fortune

1991 - 1993
A. Oakley Brooks

1993 - 1995

Jeff Straebler
Executive Director, ISTAT Appraisers Program
Julie Wichlin
Executive Director, ISTAT
Crystal Ligda
Marketing Senior Manager, ISTAT
Alexa Schlosser
Managing Editor, ISTAT
The opinions expressed in this publication
represent those of the authors and may not
necessarily reflect the opinions, official policy
or positions of ISTAT.

Johannes Einarsson

1995 - 1997
Allen M. Oliver

1997 - 1999
James E. McMillen

1999 - 2001
Bill Cumberlidge

2001 - 2003
Michael A. Metcalf

2003 - 2005
Thomas W. Heimsoth

2005 - 2007
Michael Platt

2007 - 2009
John Vitale

2009 - 2011
Joseph Ozimek

2011 - 2013

Treasurer

Jep Thornton

TRUSTEES

Marc S. Allinson

Kristen Chmielewski
Bruce Dankberg
Sigthor Einarsson
Peter Huijbers
Mary Ellen S. Jones
Andrew La Stella
Murrae Ross-Eskell
Christine Rovelli
Rod J. Sheridan
Betsy Snyder
Mark Streeter
David Swan
Eddo Weijer

* T H E O F F I C I A L P U B L I C AT I O N O F I S TAT

Bert van Leeuwen
Head of Aviation Research, DVB Bank SE

PAST PRESIDENTS

Immediate Past
ISTAT President

David Swan
Chief Operating Officer,
SMBC Aviation Capital

ISTAT APPRAISERS
PROGRAM BOARD OF
GOVERNORS AND STAFF

Olga Razzhivina*

Gerry Butler
ISTAT President, Merx Aviation Finance

2013 - 2015
2015 - 2017
Douglas W. Runte

2017 - 2019

Editorial Director: Jason Meyers
Managing Editor: Alexa Schlosser
Advertising Director: Elizabeth Barrett
Account Coordinator: Elizabeth Ferry
Art Director: Steve Biernacki
©Jetrader. All rights reserved. The contents of
this publication may not be reproduced by any
means, in whole or in part, without the prior
written consent of the publisher.
For advertising information, contact
Elizabeth Ferry at eferry@istat.org.
All articles submitted for publication in
Jetrader are the property of the authors.
ISTAT and Jetrader make no claims regarding
the accuracy of the facts and figures printed
in any of the articles.
The responsibility for accurate research
and for securing copyright permission for any
information printed in Jetrader is the duty
of the author. To contribute to future issues
of Jetrader, please email Alexa Schlosser
at aschlosser@istat.org.
PUBLISHED
NOVEMBER 2019/IST-Q0418/6364
Jetrader is published quarterly by the
International Society of Transport Aircraft
Trading, 330 N. Wabash Ave., Suite 2000,
Chicago, IL 60611. The name Jetrader
is held under copyright, as granted by
the United States
Patent and Trademark Office,
registration no. 3511680.

http://www.istat.org

ISTAT Jetrader - Winter 2019

Table of Contents for the Digital Edition of ISTAT Jetrader - Winter 2019