ISTAT Jetrader - Winter 2022 - 15
LEFT:
Sarah Aoun, head of capital markets financing at
Airbus Americas, kicked off Monday's sessions.
RIGHT:
The Airline Panel,
from left: Steven
Graham (moderator),
Mehdi El Yaalaoui,
Patrick Halluin, Joerg
Hennemann and
Tamer Yuzuak.
Day One
Sarah Aoun, head of capital markets
financing at Airbus Americas, and
ISTAT President Dean Gerber, executive
vice president and general counsel at
Valkyrie BTO, gave the opening remarks
to kick off ISTAT EMEA's sessions.
Both noted how exciting it was for
ISTAT to be in Africa for the event,
which typically takes place in Europe.
Gerber also celebrated the 33 students
graduating the ISTAT Professional
Development Program (PDP) EMEA
2022 course and welcomed them
to the stage. The current Americas
class is slated for graduation in March
2023 at ISTAT Americas, and ISTAT
aims to open a class in Asia sometime
next year.
Steven Udvar-Hazy, executive
chairman of the board for Air Lease
Corporation, provided Monday's
keynote address, which focused on
the global airline recovery. He said
that the traffic rebound will continue
to strengthen as pent-up consumer
demand is unleashed, noting that, in
2022, 64% of travelers planned to
spend more on international travel
versus 2021. " Hopefully by 2023 we'll
be [back to] normal, but we lost two to
three years of growth, " Hazy said.
He acknowledged the many
headwinds the recovery is facing,
including significant airline delays and
cancellations in summer 2022, higher
fuel and labor costs, supply chain
constraints, and the inability of Airbus
and Boeing to meet their delivery goals.
Aircraft retirements are expected to
rise, which will also reduce supply.
Also, " prior generation aircraft are less
efficient and produce higher emissions.
Only 20% of the world's fleet are nextgen
aircraft, " he said. Ultimately, Hazy's
advice to the OEMs: " Get your house
in order. "
Secured vs. Unsecured
Lending Trends
The first panel session of the day,
" Secured vs. Unsecured Lending
Trends: The Move to Attain Investment
Grade, " was moderated by Siddharth
Sharma, special counsel at Milbank.
The panel comprised Betsy Snyder,
director at S&P Global; Munawar
Noorani, managing director and global
ABOVE:
Steven Udvar-Hazy, executive chairman of
the board for Air Lease Corporation, provided
Monday's keynote address.
co-head of aviation at Citi; Christophe
Million Rousseau, senior vice president
of marketing and capital markets at
Jackson Square; and Ali Ben Lmadani,
CEO of ABL Aviation.
Because of the current uncertainty
in the economy, Snyder said, " airlines
haven't even talked about higher ratings
lately. " Airlines raised a lot of cash
in 2020, but most of their assets are
now encumbered. They had planned to
pay down their debt to improve their
balance sheet, she said, but they might
not be able to do that now because of
the economic environment. " During
2020, we lowered our ratings by several
notches. We started to look at ratings
last year to see if things were looking
better. We stabilized the outlooks, but
now things are on hold until we get a
better feel about how things will play
out, " Snyder said.
Noorani echoed Snyder's sentiments
on the uncertainty of the moment.
" There are so many macroeconomic
headwinds coming; it's not easy
for an airline to get an investment
grade rating, " he said. " In the current
environment, airlines have been focused
on survival, which means concentrating
* WIN TER 2022 * 15
ISTAT Jetrader - Winter 2022
Table of Contents for the Digital Edition of ISTAT Jetrader - Winter 2022
From the President
ISTAT News & Events
Perspectives: Q&A With Firoz Tarapore, CEO, Dubai Aerospace Enterprise
Landing in the Red City
Developments in ESG Financing and Thoughts on Greenwashing
Back in Action in the Lion City
Appraisal: Boeing 757 and PW150 Engine
ISTAT Foundation: 2022 Year in Review
Advertiser Index
ISTAT Jetrader - Winter 2022 - Cover1
ISTAT Jetrader - Winter 2022 - Cover2
ISTAT Jetrader - Winter 2022 - 1
ISTAT Jetrader - Winter 2022 - From the President
ISTAT Jetrader - Winter 2022 - 3
ISTAT Jetrader - Winter 2022 - 4
ISTAT Jetrader - Winter 2022 - 5
ISTAT Jetrader - Winter 2022 - 6
ISTAT Jetrader - Winter 2022 - 7
ISTAT Jetrader - Winter 2022 - ISTAT News & Events
ISTAT Jetrader - Winter 2022 - 9
ISTAT Jetrader - Winter 2022 - Perspectives: Q&A With Firoz Tarapore, CEO, Dubai Aerospace Enterprise
ISTAT Jetrader - Winter 2022 - 11
ISTAT Jetrader - Winter 2022 - 12
ISTAT Jetrader - Winter 2022 - 13
ISTAT Jetrader - Winter 2022 - Landing in the Red City
ISTAT Jetrader - Winter 2022 - 15
ISTAT Jetrader - Winter 2022 - 16
ISTAT Jetrader - Winter 2022 - 17
ISTAT Jetrader - Winter 2022 - 18
ISTAT Jetrader - Winter 2022 - 19
ISTAT Jetrader - Winter 2022 - 20
ISTAT Jetrader - Winter 2022 - 21
ISTAT Jetrader - Winter 2022 - 22
ISTAT Jetrader - Winter 2022 - 23
ISTAT Jetrader - Winter 2022 - 24
ISTAT Jetrader - Winter 2022 - 25
ISTAT Jetrader - Winter 2022 - 26
ISTAT Jetrader - Winter 2022 - 27
ISTAT Jetrader - Winter 2022 - Developments in ESG Financing and Thoughts on Greenwashing
ISTAT Jetrader - Winter 2022 - 29
ISTAT Jetrader - Winter 2022 - 30
ISTAT Jetrader - Winter 2022 - 31
ISTAT Jetrader - Winter 2022 - Back in Action in the Lion City
ISTAT Jetrader - Winter 2022 - 33
ISTAT Jetrader - Winter 2022 - 34
ISTAT Jetrader - Winter 2022 - 35
ISTAT Jetrader - Winter 2022 - 36
ISTAT Jetrader - Winter 2022 - 37
ISTAT Jetrader - Winter 2022 - 38
ISTAT Jetrader - Winter 2022 - 39
ISTAT Jetrader - Winter 2022 - Appraisal: Boeing 757 and PW150 Engine
ISTAT Jetrader - Winter 2022 - 41
ISTAT Jetrader - Winter 2022 - 42
ISTAT Jetrader - Winter 2022 - 43
ISTAT Jetrader - Winter 2022 - ISTAT Foundation: 2022 Year in Review
ISTAT Jetrader - Winter 2022 - 45
ISTAT Jetrader - Winter 2022 - 46
ISTAT Jetrader - Winter 2022 - 47
ISTAT Jetrader - Winter 2022 - Advertiser Index
ISTAT Jetrader - Winter 2022 - Cover3
ISTAT Jetrader - Winter 2022 - Cover4
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