ISTAT Jetrader - Winter 2020 - 10

PERSPECTIVES

Rich Wiley
Executive Chairman of SKY Leasing

Jetrader spoke to Rich Wiley, executive
chairman of SKY Leasing, about his career, the
effect COVID-19 will have on leasing companies
and more.
Jetrader: Tell me a bit about
your career.
Rich Wiley (RW): I started in
aircraft leasing in 1986, working
for an aircraft leasing subsidiary for
a diversified larger public leasing
company. I co-founded Pegasus
Aviation ( " Pegasus " ) in 1988 with
US$4 million of capital. One of the
initial shareholders was George
Batchelor's firm, International Aircraft
Leases. He was a friend and a pioneer
in aircraft leasing, and the knowledge
he shared played a key role in the
development of the business model
of Pegasus. George ultimately was
awarded the first ISTAT Award.
Pegasus was a lessor of midlife
passenger and cargo aircraft,
which diversified to a midlife asset
manager in 2004. In the aftermath
of 9/11 and SARS, Pegasus Aviation
Finance Company ( " PAFCO " ) was
founded as a separate company in
2004 and capitalized with US$300
million from Oaktree Capital, a
highly successful asset manager and
principal in distressed opportunities
and private equity. Unlike Pegasus,
PAFCO focused on new and younger
aircraft sale and leasebacks to our
team's worldwide network of airlines
that had been developed over the
previous decade. PAFCO was sold in
June 2007 to AWAS/Terra Firma, a
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private equity firm. The PAFCO aircraft
fleet was over 100 aircraft owned and
forward committed with an average age
of under four years old.
SKY Holding was formed at the
beginning of 2008 as an asset manager
for midlife aircraft with no initially
owned fleet of aircraft. In 2010, we
teamed again with Oaktree Capital with
equity of US$500 million and started
Jackson Square Aviation ( " JSA " )
as a separate company with SKY
management. Following the 20082009 financial distress, aviation capital
was limited, so JSA filled the gap and
provided liquidity to airlines for their
Boeing and Airbus delivery schedules.
The portfolio grew to more than 80
aircraft with an average age under
three years. JSA was sold in late 2012
to Mitsubishi UFJ Lease & Finance. JSA
was acquired to create a much larger
aircraft platform, which today is close
to US$8 billion in assets.
I was CEO for JSA until early 2015.
In October 2015, the SKY management
co-founded SKY Leasing ( " SKY " ) along
with ATL Partners and Canada's Public
Sector Pension Investment Board with
over US$400 million in new capital.
SKY focused on an underinvested
aircraft sector of younger midlife
current-generation aircraft (737NG/
A320ceo), new current-generation
aircraft deliveries and new technology



ISTAT Jetrader - Winter 2020

Table of Contents for the Digital Edition of ISTAT Jetrader - Winter 2020

ISTAT Jetrader - Winter 2020
From the President
News & Events
Perspectives: Q&A With Rich Wiley of SKY Leasing
Winds of Change
10 Years of Air Shows
ISTAT Foundation
Appraisal: Airbus A330-300 and Boeing 767-300ER
At a Glance: Peter Hopkins
Advertiser Index
ISTAT Jetrader - Winter 2020 - Intro
ISTAT Jetrader - Winter 2020 - ISTAT Jetrader - Winter 2020
ISTAT Jetrader - Winter 2020 - Cover2
ISTAT Jetrader - Winter 2020 - 1
ISTAT Jetrader - Winter 2020 - From the President
ISTAT Jetrader - Winter 2020 - 3
ISTAT Jetrader - Winter 2020 - 4
ISTAT Jetrader - Winter 2020 - 5
ISTAT Jetrader - Winter 2020 - 6
ISTAT Jetrader - Winter 2020 - 7
ISTAT Jetrader - Winter 2020 - News & Events
ISTAT Jetrader - Winter 2020 - 9
ISTAT Jetrader - Winter 2020 - Perspectives: Q&A With Rich Wiley of SKY Leasing
ISTAT Jetrader - Winter 2020 - 11
ISTAT Jetrader - Winter 2020 - 12
ISTAT Jetrader - Winter 2020 - 13
ISTAT Jetrader - Winter 2020 - 14
ISTAT Jetrader - Winter 2020 - 15
ISTAT Jetrader - Winter 2020 - Winds of Change
ISTAT Jetrader - Winter 2020 - 17
ISTAT Jetrader - Winter 2020 - 18
ISTAT Jetrader - Winter 2020 - 19
ISTAT Jetrader - Winter 2020 - 20
ISTAT Jetrader - Winter 2020 - 21
ISTAT Jetrader - Winter 2020 - 22
ISTAT Jetrader - Winter 2020 - 23
ISTAT Jetrader - Winter 2020 - 24
ISTAT Jetrader - Winter 2020 - 25
ISTAT Jetrader - Winter 2020 - 10 Years of Air Shows
ISTAT Jetrader - Winter 2020 - 27
ISTAT Jetrader - Winter 2020 - 28
ISTAT Jetrader - Winter 2020 - 29
ISTAT Jetrader - Winter 2020 - 30
ISTAT Jetrader - Winter 2020 - 31
ISTAT Jetrader - Winter 2020 - 32
ISTAT Jetrader - Winter 2020 - 33
ISTAT Jetrader - Winter 2020 - 34
ISTAT Jetrader - Winter 2020 - 35
ISTAT Jetrader - Winter 2020 - 36
ISTAT Jetrader - Winter 2020 - 37
ISTAT Jetrader - Winter 2020 - ISTAT Foundation
ISTAT Jetrader - Winter 2020 - 39
ISTAT Jetrader - Winter 2020 - 40
ISTAT Jetrader - Winter 2020 - 41
ISTAT Jetrader - Winter 2020 - Appraisal: Airbus A330-300 and Boeing 767-300ER
ISTAT Jetrader - Winter 2020 - 43
ISTAT Jetrader - Winter 2020 - 44
ISTAT Jetrader - Winter 2020 - 45
ISTAT Jetrader - Winter 2020 - At a Glance: Peter Hopkins
ISTAT Jetrader - Winter 2020 - 47
ISTAT Jetrader - Winter 2020 - Advertiser Index
ISTAT Jetrader - Winter 2020 - Cover3
ISTAT Jetrader - Winter 2020 - Cover4
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