Contents SUMMER 2021 14 10 Features 10 Perspectives: Q&A With Dean Gerber Jetrader spoke to Dean Gerber, executive vice president and general counsel at Valkyrie BTO Aviation, about his history in the industry, his plans as ISTAT president and what excites him about the future. 14 Reunited in the Magic City A recap of the 2021 ISTAT Miami Conclave, held 19-20 April at The Biltmore Hotel Coral Gables in Miami, Florida. 22 Understanding Lease-Encumbered Values The relative cooldown in trading activity since the early days of the pandemic makes this an opportune time to clarify the concept and explain the inner workings of a Lease-Encumbered Value, how it is derived and how it can be meaningfully applied. 02 From the President 08 ISTAT News & Events 26 ISTAT Foundation: Supporting UN Humanitarian Air Service Efforts 28 Appraisal: 737 MAX 8 and DHC-8-400 32 At a Glance: Dezhi Zhu 34 From the Vault: ISTAT Latin America Forum 2017-2019 36 Advertiser Index Jetrader wants YOU to be a part of the magazine. Please send ideas for stories to Alexa Schlosser at aschlosser@istat.org. Be sure to visit the digital Jetrader at www.istat.org Jetrader * SUMMER 2021 * 5 22http://www.istat.org