ISTAT Jetrader - Summer 2022 - 22

LEFT: The
Aftermarket Panel,
from left: moderator
Rich Gauvin,
Thomas Garbaccio,
Carl Glover, Abdol
Moabery, Paul Righi
and Robert Schultz.
said. Lee, whose company primarily
works in real estate and private equity,
said Blackstone is " here for the long
term. " In her company's approach,
she said, " We are asking the same
questions in terms of concerns as a
bank. We are concerned about the
space and dislocation, but that's
step one. We don't stop there, and
sometimes banks do. We take a more
constructive approach. "
RIGHT:
Peter Huijbers
giving an ISTAT
Foundation
update.
conventional jet fuel with SAF of some
kind (and each SAF has a slightly
different formula and methodology),
you could effectively solve the problem
overnight. You could basically eliminate
the problem if you could build enough
SAF plants soon enough and make it
at a cost airlines can afford. " Lange
offered the Airbus strategy, which
includes working with CFM to test a
hydrogen burn demonstrator mounted
to an A380. Sinnett shared that
Boeing hasn't ruled hydrogen out but
is less sure of that approach. " You
have to find a place to put all that
hydrogen, " he said. " In today's airplane
configuration, it's hard to find that
room. We need to focus on systemlevel
results. "
Norcia provided a completely
different perspective, as his company
builds autonomous electric aircraft,
currently crop dusters. " Many aspects
of the aviation mission lend themselves
well to automation, " he said. " There's a
huge amount of potential for innovation
in this industry - the question is:
How can we get new technology
into customers' hands as fast as we
possibly can? We are shipping actual
2 2 * THE OF F I C I AL PUBL I CAT I ON OF ISTAT
aircraft to actual customers now. Our
goal is to be an incrementalist. "
New Frontiers in
Aviation Finance
After lunch, the program continued
with the panel New Frontiers in Aviation
Finance. Dana Barta, executive director
at J.P. Morgan, moderated, and was
joined by Rich Barnett, partner for
business development and capital
markets at Castlelake; Anyi Lee,
managing director at Blackstone;
Margaret Morrow, managing director
at PK AirFrance; and Jennifer Villa,
executive director and group head at
Ashland Place Finance.
Each panelist began by explaining
what is unique about their respective
companies, then delved into how each
of them look at a deal, what their
investment policy is and how they see
the future of the market.
Barnett explained that his company
started its lending platform during
the pandemic, which he said was
" opportune. " " Private credit is bigger
today than it was 10 or 12 years ago
when it was a nascent strategy, " he
The Aftermarket
The Aftermarket Panel was moderated
by Rich Gauvin, chief technical officer
of aviation at Castlelake, with panelists
Thomas Garbaccio, president and chief
commercial officer at FTAI Aviation;
Carl Glover, vice president of sales and
marketing in the aviation services group
at AAR; Abdol Moabery, president and
chief executive officer of GA Telesis;
Paul Righi, managing director of
portfolio marketing and development
at Boeing Capital Corporation; and
Robert Schultz, president of Delta
Material Services.
Topics included how the Russian
crisis contrasted with the COVID-19
pandemic, the spare engine market and
heavy shop visits. Regarding the effects
of the crisis in Russia and Ukraine,
Glover said many of his company's
customers are long-term freight
carriers, and " as we went through the
COVID-19 boom of e-commerce, you
could see a capacity pinch coming.
I think we have another capacity
pinch coming. "
Moabery remarked: " The pandemic
reduction in business was voluntary.
[For the Ukraine crisis,] I've never seen
this fast response to military actions
in terms of the sanctions from the
European Union and U.S. It was a stark
reminder of how fast things can shut
down and how fast you have to adjust
what you're doing. "
On the topic of shop visits, Garbaccio
said: " We've seen that shop visits used
to take three to four months, and now
they take eight to nine months. "
ISTAT Jetrader - Summer 2022

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