Jetrader - January/February 2012 - 6

ISTAT calendar
ISTAT Americas 2012
18-20 March 2012 Westin Kierland Resort Scottsdale, Arizona

ISTAT news
ISTAT Board of Directors – Call for Nominations
The Nominations Committee is accepting nominations for positions that will become open on the ISTAT Board of Directors in March 2012. Nominees must be ISTAT members in good standing and must have been a member for at least the past two years. Nominees will be presented to the ISTAT membership via e-mail in February 2012 and will be voted upon via an electronic process prior to the ISTAT Americas Conference on 18-20 March 2012 at the Westin Kierland Resort in Scottsdale, Ariz. Two of the nominees will be elected to the board as follows: - One director position serving from March 2012 until March 2016 - One director position serving from March 2012 until March 2016 The following directors terms expire in March of 2012: Directors Will Hudson of Vx Capital Partners and Jep Thornton of Aerolease Aviation LLC. Both Hudson and Thornton are eligible to seek new terms. Biographical sketches of the nominees should be submitted to the ISTAT office along with your letter of intent to run for a director position. Please send your information via e-mail: or fax: 312.673.6579 by 31 January 2012. Questions or comments should be directed to ISTAT Nominating Chairman John Vitale at or ISTAT Executive Director Ron Pietrzak at

ISTAT Asia 2012
7-8 May 2012 Marina Bay Sands Singapore

ISTAT Farnborough Airshow Reception
9 July 2012 Grosvenor House London, England

Farnborough Airshow Chalet
9-13 July 2012 Farnborough, United Kingdom

ISTAT Europe 2012
19-21 September 2012 Rome Cavalieri Rome, Italy

ISTAT Chalet at Farnborough Airshow
ISTAT is pleased to announce that for the first time in 2012, ISTAT members will have the opportunity to visit an ISTAT chalet at the Farnborough Airshow in July. This exciting new benefit for members will provide a space at the airshow to enjoy the hospitality, meet and greet with industry colleagues, and gather together at another premier industry event. More details on this event will be posted at

ISTAT Americas 2013
10-12 March 2013 JW Marriott Orlando Grand Lakes Orlando, Florida

Be sure to visit the interactive Jetrader on the Web at

Vedder Price Expands Overseas: London Office to Initially Focus On Global Transportation Finance
Vedder Price, a 60-year-old general practice law firm, established its first overseas presence in London today. The new London office will complement the firm’s existing U.S. presence in Chicago, New York and Washington, D.C. The London office will initially expand Vedder Price’s prominent Global Transportation Finance practice with plans to develop this new office with additional practices—the same effective strategy used to build its presence in New York and Washington, D.C. Leading the London office are Partners Gavin Hill, formerly head of the Aviation Finance practice at Clyde & Co., and Derek Watson, formerly at Freshfields Bruckhaus Deringer. Five associates have also joined Vedder Price’s Global Transportation Finance practice in London, all coming from Clyde & Co. Vedder Price’s London office is located at the following address: Vedder Price LLP, 200 Aldersgate, London EC1A 4HD.

Published by: Naylor, LLC 5950 NW First Place Gainesville, FL 32607 Phone: 352.332.1252 Toll-Free: 800.369.6220 Fax: 352.332.3331 Publisher: Jill Andreu Editor: Julie Ahlgren Project Manager: Megan Sapp Advertising Sales Manager: Rick Sauers Sales Representative: Janet Frank Marketing: Heather McMillen Layout and Design: Sonu Sharma
©2012 Naylor, LLC. 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 Rick Sauers at or 800-369-6220 ext. 3426. 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 e-mail Marcia Daudelin at PUBLISHED JANUARY 2012/IST-S0112/6535 Jetrader is published bi-monthly by the International Society of Transport Aircraft Trading, 401 N. Michigan Ave. Suite 2400, Chicago, IL 60611. The name Jetrader is held under copyright, as granted by the United States Patent and Trademark Office, registration no. 3511680.

6 The official publication of the International Society of Transport Aircraft Trading

Jetrader - January/February 2012

Table of Contents for the Digital Edition of Jetrader - January/February 2012

A Message from the President
Aircraft Financing Ahead
Q&A: Bertrand Grabowski
Evolution of Engine Leasing
ISTAT Closes Out 2011 in Style
Aircraft Appraisals
ISTAT Members on the Move
Aviation History Index
Jetrader - January/February 2012 - cover1
Jetrader - January/February 2012 - cover2
Jetrader - January/February 2012 - A Message from the President
Jetrader - January/February 2012 - 4
Jetrader - January/February 2012 - 5
Jetrader - January/February 2012 - Calendar/News
Jetrader - January/February 2012 - Aircraft Financing Ahead
Jetrader - January/February 2012 - 8
Jetrader - January/February 2012 - 9
Jetrader - January/February 2012 - Q&A: Bertrand Grabowski
Jetrader - January/February 2012 - 11
Jetrader - January/February 2012 - Evolution of Engine Leasing
Jetrader - January/February 2012 - 13
Jetrader - January/February 2012 - 14
Jetrader - January/February 2012 - ISTAT Closes Out 2011 in Style
Jetrader - January/February 2012 - 16
Jetrader - January/February 2012 - Aircraft Appraisals
Jetrader - January/February 2012 - 18
Jetrader - January/February 2012 - ISTAT Members on the Move
Jetrader - January/February 2012 - Aviation History
Jetrader - January/February 2012 - 21
Jetrader - January/February 2012 - Index
Jetrader - January/February 2012 - cover3
Jetrader - January/February 2012 - cover4