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21 December 2017 In This Issue
News From ISTAT
ISTAT Calendar
Member Updates
Foundation Happenings
ISTAT Appraisers' Program
Jetrader Magazine
Industry News
News From ISTAT
ISTAT members across the globe celebrated the holiday season and capped off another prosperous year at the ISTAT Holiday Receptions on 6 December. Held in six locations across the globe — Dublin, London, Los Angeles, Miami, New York and Tokyo — more than 1,500 members and guests attended receptions to reconnect with longstanding peers and create new relationships with industry newcomers.

Click here for photos of the receptions.


Building on momentum established in the event’s first two years, ISTAT members gathered in Bogotá for ISTAT Latin America Forum on 15-16 November. This marked the event’s first trip to Colombia and the third consecutive year attendance figures increased.

At the conference, representatives from key regional airlines, appraisers, financiers and manufacturers enjoyed a keynote presentation from Germán Efromovich, cofounder and chairman, Avianca Holdings S.A. & founder, president and chairman, Synergy Group Corp., exploring industry issues specific to the Latin American region.

The burgeoning conference also was packed with panel discussions and networking opportunities.

Panel discussions focused on incumbent airlines, banking and finance issues, emergent airlines and leasing issues, with representatives from member companies such as Azul Brazilian Airlines, Interjet, Sky Chile, and VivaColombia.

Click here for photos from the ISTAT Latin America Forum, and be sure to make plans to join us next year in Lima, Peru.

Registration for ISTAT Americas – to be held 4-6 March 2018 at the San Diego Marriott Marquis in San Diego, CA, USA – is now open! ISTAT Americas will feature keynote presentations and panel discussions with industry leaders, in addition to networking events designed to provide opportunities to grow business and forge new relationships.

Register now to secure housing.

The second installment of ISTAT Aviation Insights, sponsored by PwC, features DAE Chief Executive Officer Firoz Tarapore. This is the second in a series of videos and podcasts that feature interviews with influential industry professionals discussing current activities in the aviation industry.

Click here to learn what Firoz Tarapore had to say about DAE taking over AWAS and much more.

The Nominations Committee is accepting nominations for positions that will become available on the ISTAT Board of Directors in March 2018. The Nominating Committee will consider individuals that have been members of ISTAT in good standing for at least the past two years, and who have been strong business partners within the ISTAT community. Members who have attended conferences and functions, volunteered on various committees and/or participated as planners or speakers at ISTAT events are preferred candidates. Please enumerate your qualifications/ accomplishments as part of your letter of intent.

Nominees will be presented to the ISTAT membership via email in February of 2018 and will be voted upon via an electronic process prior to and during the 35th Annual ISTAT Conference, 4-6 March 2018 at the San Diego Marriott Marquis + Marina in San Diego, CA.

Two (2) nominees will be elected to the board and will serve from March 2018 until March 2022.

Biographical sketches of the nominees should be submitted to ISTAT along with your letter of intent to run for a director position. Please send your information via email to by 3 January 2018.

Questions or comments should be directed to ISTAT Nominating Chairman Marc Allinson or ISTAT Executive Director Julie Wichlin.

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Bombardier Aerospace
ISTAT Calendar

ISTAT Americas
4-6 March 2018
San Diego Marriott Marquis + Marina
San Diego, CA, USA
Register now

8-10 May 2018
The Ritz-Carlton Millenia, Singapore

ISTAT at the Farnborough International Airshow
Chalet: 16-22 July 2018
Reception: 16 July 2018
JW Marriott Grosvenor House
London, England

23-25 September 2018
Hilton Prague
Prague, Czech Republic

ISTAT Latin America Forum
14-15 November
JW Marriott Hotel Lima
Lima, Peru

ISTAT Holiday Receptions
5 December 2018
Locations Around the Globe

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Wilmington Trust, N.A.
Member Updates
ISTAT is pleased to announce these new and returning members. Learn more about each member and connect with them by accessing the ISTAT Member Directory.
Congratulations to these ISTAT members on their new positions.
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A leading independent aviation consultancy
IBA Group, Ltd.
  • Advising lessors, operators, OEMs, financiers & investors

  • Delivering a comprehensive mix of intelligence gathering, analysis, proprietary data, technical expertise & decades of aviation experience

  • Enhancing decision making across the aviation spectrum
Foundation Happenings
The ISTAT Foundation provides funds for scholarships, educational programs and grants to qualified individuals and institutions that promote the advancement of commercial aviation and humanitarianism. Since 2006, the Foundation has granted more than $5.7 million to over 440 students and 63 nonprofit organizations.

Thanks to the generous support of our members, we are pleased to be able to continue our mission and expand our global reach. For more information on how you can support the Foundation’s efforts, please visit Contributions of any size are welcome!

The ISTAT Internship Portal is open to ISTAT member companies to post their summer or graduate internship positions. We encourage companies to post their positions at their earliest convenience to ensure interest from the best candidates.

The Foundation’s Internship Program acts as an intermediary between ISTAT member companies and university students seeking aviation internships. Through the use of our web portal, qualified students and employers are able to match the right skills, background and interests with corporate internships. Placed interns will receive a stipend from the Foundation to cover qualified housing and travel expenses of up to $2,500. Questions? Contact

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ISTAT Appraisers' Program

The Winter 2017 issue of Jetrader features the publication of the fifth and penultimate article in the ongoing ISTAT appraisers’ education series. In this entry to the series, ISTAT Certified Senior Appraiser Neil Whitehouse and ISTAT Appraiser Emeritus and Member Emeritus Jack Feir take an in-depth focus on definitions. ISTAT appraisal definitions have become the industry standard for billions of dollars of financing and in litigation, as well. This article sets the definitions out and provides descriptive explanations for each.

Click here to read the article, and be on the lookout for the final installment in the series to appear in the Spring 2018 issue.

The series thus far:
Part I: An Appreciation
Part II: Value Definitions, Unit Costs & More
Part III: Aircraft Economic Life
Part IV: Engine Values
Part V: ISTAT Value Definitions


In the Winter 2017 issue of Jetrader, which arrived in mailboxes earlier this month, ISTAT Appraiser Emeritus and Member Emeritus Jack Feir takes us back to 1933 to examine a race from Britain to Australia on the aircraft "designed to win a race," the de Havilland DH88 Comet.

Click here to read the article.

In continuing with Jetrader's ongoing series of appraisals, the Winter 2017 issue showcases the latest installments in this long-running feature. ISTAT Certified Senior Appraiser Olga Razzhivina, Oriel, provides current and future values on the Airbus A319, and ISTAT Certified Appraiser Martin O’Hanrahan, AVITAS, weighs in, and offer values and market commentary on the Boeing 737-700.
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MTU Maintenance - Lifetime Excellence
MTU Maintenance Hannover Gmbh
As engine experts and world leader in independent engine services, we focus on maximizing your earnings and optimizing costs during the lifecycle of the engine and beyond. With decades of experience we offer tailored solutions emcompassing innovative MRO services, integrated leasing and best-of-breed asset management. There is always a better solution for your engines. MTU has it.
Jetrader Magazine
The winter issue of Jetrader is available and is arriving in mailboxes now. Filled with timely and educational content, this issue offers an a recap of ISTAT EMEA, in addition to a first-person recount of MRJ's recent test flights and a preview of ISTAT's 2018 key events. The issue also features conversations with József Váradi, Wizz Air, and David Swan, SMBC Aviation Capital, and offers appraiser education, Foundation updates and myriad other topics. Thanks to our many contributors, advertisers and supporters. Be sure to check out the new issue here, and be on the lookout for more great content in 2018.
As another year draws to a close, members can begin looking ahead to a full slate of opportunities for education and networking in 2018. The cornerstone events — ISTAT Americas, ISTAT Asia, ISTAT EMEA and the ISTAT Latin America Forum — look to continue their upward growth trend while again providing countless networking, education and relationship-forming opportunities. Here’s a sneak peek at next year’s events. We hope to see you often in 2018.
Advertising space is now available in the spring 2018 issue of Jetrader magazine. This issue will feature an interview with the 2018 ISTAT Award Winner, in addition to a host of timely and useful content. For year-round access to ISTAT members, please reference the advertising opportunities available through ISTAT and Jetrader by clicking here, or by contacting: Erik Henson, Jetrader media director at +1 352-333-3443 or

ISTAT media allows you to enjoy direct and targeted access to more than 4,500 C-suite executives, vice presidents, chairmen, partners, principals, presidents, marketing/sales directors and managers within the global aviation community.

Jetrader, ISTAT's official magazine, is circulated to ISTAT members on a quarterly basis. Each issue of Jetrader highlights industry news and case studies and contains feature articles and member spotlights.
We are now accepting article submissions for 2018. If you are interested in sharing your expertise and contributing to the content of Jetrader, please contact ISTAT at
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Spire Flight Solutions
Pratt & Whitney
Aeronautical Engineers Inc
Industry News
Global industry net profit is predicted to rise in 2018 to an estimated $38.4 billion, notes the International Air Transport Association (IATA) in a December report. Factors expected to contribute to the growth are declines in operating margins, a rise in revenues and a rise in passenger numbers.
November saw strong activity,with Boeing reporting the sale of 159 aircraft, valued at approximately $21 billion, and Airbus reporting the sale of 45 aircraft, valued at approximately $5.2 billion. Orders for the aircraft were placed predominantly by leasing companies.
Representatives from U.S.- and EU-based legislative and regulatory bodies recently signed amendments to two existing U.S.-EU agreements, which will expand opportunities for air traffic harmonization and aviation safety.
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