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<br /> ISSUE FIFTYSIX JUNE-JULY 2020<br /> THE LEADING GLOBAL PUBLICATION FOR OPERATORS OF AND INVESTORS IN AIRCRAFT AND ENGINES<br /> 40<br /> FORTY<br /> UNDER<br /> www.aviationnews-online.com<br /> ABOVE & BEYOND<br /> GECAS is a world-leading aviation lessor and financier. For over five decades,<br /> we have solved our customers' challenges and enabled their businesses to thrive.<br /> Whether your need is for aircraft, engines, helicopters or finance, our name has become<br /> synonymous with trusted relationships, domain expertise, and delivering on our promises.<br /> GECAS. Ready for our second fifty years.<br /> gecas.com<br /> GECAS g<br /> EDITOR’S LETTER<br /> CERTAIN UNCERTAINTY<br /> VOLUME TEN, ISSUE THREE<br /> June-July 2020<br /> EDITORIAL TEAM<br /> Victoria Tozer-Pennington<br /> victoria@aviationnews-online.com<br <a title="Issue 56 Jun/Jul page 1" href="https://secure.viewer.zmags.com/publication/c441e72b?page=1"> ISSUE FIFTYSIX </a> <a title="Issue 56 Jun/Jul page 2" href="https://secure.viewer.zmags.com/publication/c441e72b?page=2"> ABOVE & BEYOND GECAS is a world-leading aviation</a> <a title="Issue 56 Jun/Jul page 3" href="https://secure.viewer.zmags.com/publication/c441e72b?page=3"> EDITOR’S LETTER CERTAIN UNCERTAINTY </a> <a title="Issue 56 Jun/Jul page 4" href="https://secure.viewer.zmags.com/publication/c441e72b?page=4"> CONTENTS </a> <a title="Issue 56 Jun/Jul page 5" href="https://secure.viewer.zmags.com/publication/c441e72b?page=5"> BOSTON | SHANNON | LONDON | SINGAPORE | HONG KON</a> <a title="Issue 56 Jun/Jul page 6" href="https://secure.viewer.zmags.com/publication/c441e72b?page=6"> NEWS United monetises Mileage Plus In a first f</a> <a title="Issue 56 Jun/Jul page 7" href="https://secure.viewer.zmags.com/publication/c441e72b?page=7"> Aset Management • • • • Remarketing Services</a> <a title="Issue 56 Jun/Jul page 8" href="https://secure.viewer.zmags.com/publication/c441e72b?page=8"> NEWS MUFG Bank pulls purchase of DVB’s AAM and </a> <a title="Issue 56 Jun/Jul page 9" href="https://secure.viewer.zmags.com/publication/c441e72b?page=9"> AMONG THE MILLIONS OF STARS, THERE’S ONLY ONE EAR</a> <a title="Issue 56 Jun/Jul page 10" href="https://secure.viewer.zmags.com/publication/c441e72b?page=10"> PARTNERSHIP* IS OUR BUSINESS *Supporting Airline</a> <a title="Issue 56 Jun/Jul page 11" href="https://secure.viewer.zmags.com/publication/c441e72b?page=11"> </a> <a title="Issue 56 Jun/Jul page 12" href="https://secure.viewer.zmags.com/publication/c441e72b?page=12"> NEWS IAG launches $3.48 billion rights issue </a> <a title="Issue 56 Jun/Jul page 13" href="https://secure.viewer.zmags.com/publication/c441e72b?page=13"> </a> <a title="Issue 56 Jun/Jul page 14" href="https://secure.viewer.zmags.com/publication/c441e72b?page=14"> 25 Years of Commitment To Creative Solutions. </a> <a title="Issue 56 Jun/Jul page 15" href="https://secure.viewer.zmags.com/publication/c441e72b?page=15"> 1994 @NovusAviation 2019 </a> <a title="Issue 56 Jun/Jul page 16" href="https://secure.viewer.zmags.com/publication/c441e72b?page=16"> </a> <a title="Issue 56 Jun/Jul page 17" href="https://secure.viewer.zmags.com/publication/c441e72b?page=17"> BOSTON | SHANNON | LONDON | SINGAPORE | HONG</a> <a title="Issue 56 Jun/Jul page 18" href="https://secure.viewer.zmags.com/publication/c441e72b?page=18"> NEWS Hawaiian Airlines launches $262 million EE</a> <a title="Issue 56 Jun/Jul page 19" href="https://secure.viewer.zmags.com/publication/c441e72b?page=19"> Over 19,000 shop visits in almost 40 years on mor</a> <a title="Issue 56 Jun/Jul page 20" href="https://secure.viewer.zmags.com/publication/c441e72b?page=20"> NEWS Southwest raising more funds Southwest Air</a> <a title="Issue 56 Jun/Jul page 21" href="https://secure.viewer.zmags.com/publication/c441e72b?page=21"> Your Global Partners for Financing and Management</a> <a title="Issue 56 Jun/Jul page 22" href="https://secure.viewer.zmags.com/publication/c441e72b?page=22"> Looking for a better SUCCESSOR trustee solution?</a> <a title="Issue 56 Jun/Jul page 23" href="https://secure.viewer.zmags.com/publication/c441e72b?page=23"> ALAN GERAGHTY </a> <a title="Issue 56 Jun/Jul page 24" href="https://secure.viewer.zmags.com/publication/c441e72b?page=24"> NEWS GE Aviation and GECAS count the cost of CO</a> <a title="Issue 56 Jun/Jul page 25" href="https://secure.viewer.zmags.com/publication/c441e72b?page=25"> Choose an Aviation Leasing Administration Partner</a> <a title="Issue 56 Jun/Jul page 26" href="https://secure.viewer.zmags.com/publication/c441e72b?page=26"> NEWS Air Canada raises $1.23bn Air Canada has r</a> <a title="Issue 56 Jun/Jul page 27" href="https://secure.viewer.zmags.com/publication/c441e72b?page=27"> Global clients. Global deals. Chicago London </a> <a title="Issue 56 Jun/Jul page 28" href="https://secure.viewer.zmags.com/publication/c441e72b?page=28"> NEWS Investors pile into new ALC bond Investors</a> <a title="Issue 56 Jun/Jul page 29" href="https://secure.viewer.zmags.com/publication/c441e72b?page=29"> Unique solutions for your aviation trust needs </a> <a title="Issue 56 Jun/Jul page 30" href="https://secure.viewer.zmags.com/publication/c441e72b?page=30"> NEWS Export Credit funding grows As with all </a> <a title="Issue 56 Jun/Jul page 31" href="https://secure.viewer.zmags.com/publication/c441e72b?page=31"> At the Heart of Regional Aviation</a> <a title="Issue 56 Jun/Jul page 32" href="https://secure.viewer.zmags.com/publication/c441e72b?page=32"> NEWS American Airlines leverages IP Photo cre</a> <a title="Issue 56 Jun/Jul page 33" href="https://secure.viewer.zmags.com/publication/c441e72b?page=33"> Navigating Global Aviation Our integrated pr</a> <a title="Issue 56 Jun/Jul page 34" href="https://secure.viewer.zmags.com/publication/c441e72b?page=34"> NEWS Virgin Atlantic secures restructuring cash</a> <a title="Issue 56 Jun/Jul page 35" href="https://secure.viewer.zmags.com/publication/c441e72b?page=35"> marsh.com UNLOCKING FUNDING OPTIONS TO SUPPORT G</a> <a title="Issue 56 Jun/Jul page 36" href="https://secure.viewer.zmags.com/publication/c441e72b?page=36"> NEWS Lessors interrupt Virgin Australia sale Th</a> <a title="Issue 56 Jun/Jul page 37" href="https://secure.viewer.zmags.com/publication/c441e72b?page=37"> AIRCRAFT. LEASING. INVESTMENT. </a> <a title="Issue 56 Jun/Jul page 38" href="https://secure.viewer.zmags.com/publication/c441e72b?page=38"> NEWS Ireland Taskforce for Aviation Recovery re</a> <a title="Issue 56 Jun/Jul page 39" href="https://secure.viewer.zmags.com/publication/c441e72b?page=39"> Leader in Aircraft Leasing, Asset Management & Fi</a> <a title="Issue 56 Jun/Jul page 40" href="https://secure.viewer.zmags.com/publication/c441e72b?page=40"> NEWS Meijer becomes new CEO of Embraer Embraer </a> <a title="Issue 56 Jun/Jul page 41" href="https://secure.viewer.zmags.com/publication/c441e72b?page=41"> Investing | Leasing | Asset Management </a> <a title="Issue 56 Jun/Jul page 42" href="https://secure.viewer.zmags.com/publication/c441e72b?page=42"> NEWS Griffin names senior management team Griff</a> <a title="Issue 56 Jun/Jul page 43" href="https://secure.viewer.zmags.com/publication/c441e72b?page=43"> </a> <a title="Issue 56 Jun/Jul page 44" href="https://secure.viewer.zmags.com/publication/c441e72b?page=44"> NEWS State Aid for airlines continues As the CO</a> <a title="Issue 56 Jun/Jul page 45" href="https://secure.viewer.zmags.com/publication/c441e72b?page=45"> NEWS Samsung Partners launches aviation arm Sam</a> <a title="Issue 56 Jun/Jul page 46" href="https://secure.viewer.zmags.com/publication/c441e72b?page=46"> NEWS Airline Economics Aviation Industry Leaders</a> <a title="Issue 56 Jun/Jul page 47" href="https://secure.viewer.zmags.com/publication/c441e72b?page=47"> </a> <a title="Issue 56 Jun/Jul page 48" href="https://secure.viewer.zmags.com/publication/c441e72b?page=48"> NEWS Airline Economics Aviation Industry Leaders</a> <a title="Issue 56 Jun/Jul page 49" href="https://secure.viewer.zmags.com/publication/c441e72b?page=49"> READY TO FLY With 50 years in </a> <a title="Issue 56 Jun/Jul page 50" href="https://secure.viewer.zmags.com/publication/c441e72b?page=50"> NEWS Airline Economics Aviation Industry Leaders</a> <a title="Issue 56 Jun/Jul page 51" href="https://secure.viewer.zmags.com/publication/c441e72b?page=51"> YOUR GO-TO BANK IN AVIATION We</a> <a title="Issue 56 Jun/Jul page 52" href="https://secure.viewer.zmags.com/publication/c441e72b?page=52"> NEWS Airline Economics Sage Podcast Series 2020 </a> <a title="Issue 56 Jun/Jul page 53" href="https://secure.viewer.zmags.com/publication/c441e72b?page=53"> CAE Aircraft Technical Support Services Are you </a> <a title="Issue 56 Jun/Jul page 54" href="https://secure.viewer.zmags.com/publication/c441e72b?page=54"> COVID-19 Ready for take-off Wit</a> <a title="Issue 56 Jun/Jul page 55" href="https://secure.viewer.zmags.com/publication/c441e72b?page=55"> he said that, “This standard is key to minimising</a> <a title="Issue 56 Jun/Jul page 56" href="https://secure.viewer.zmags.com/publication/c441e72b?page=56"> 234 1 8 9 10</a> <a title="Issue 56 Jun/Jul page 57" href="https://secure.viewer.zmags.com/publication/c441e72b?page=57"> 40 FORTY </a> <a title="Issue 56 Jun/Jul page 58" href="https://secure.viewer.zmags.com/publication/c441e72b?page=58"> 40 FORTY 40 UNDER 40 UNDER Airline Economics</a> <a title="Issue 56 Jun/Jul page 59" href="https://secure.viewer.zmags.com/publication/c441e72b?page=59"> Market Leader in Managing Agent Services for Avia</a> <a title="Issue 56 Jun/Jul page 60" href="https://secure.viewer.zmags.com/publication/c441e72b?page=60"> 40 FORTY UNDER 40 UNDER 40 AJ Abedin </a> <a title="Issue 56 Jun/Jul page 61" href="https://secure.viewer.zmags.com/publication/c441e72b?page=61"> 40 FORTY UNDER navigating available federal</a> <a title="Issue 56 Jun/Jul page 62" href="https://secure.viewer.zmags.com/publication/c441e72b?page=62"> 40 FORTY 40 UNDER 40 UNDER Mike Bianco </a> <a title="Issue 56 Jun/Jul page 63" href="https://secure.viewer.zmags.com/publication/c441e72b?page=63"> 40 FORTY UNDER 40 UNDER 40 continue to suppor</a> <a title="Issue 56 Jun/Jul page 64" href="https://secure.viewer.zmags.com/publication/c441e72b?page=64"> 40 UNDER 40 Kristen Chmielewski Partner, GC Aero</a> <a title="Issue 56 Jun/Jul page 65" href="https://secure.viewer.zmags.com/publication/c441e72b?page=65"> ENGINES As we navigate these turbulent times toge</a> <a title="Issue 56 Jun/Jul page 66" href="https://secure.viewer.zmags.com/publication/c441e72b?page=66"> 40 FORTY UNDER 40 UNDER 40 Aaron Cohen Associa</a> <a title="Issue 56 Jun/Jul page 67" href="https://secure.viewer.zmags.com/publication/c441e72b?page=67"> END TO END INVESTMENT MANAGEMENT FULL, IN-HOUSE A</a> <a title="Issue 56 Jun/Jul page 68" href="https://secure.viewer.zmags.com/publication/c441e72b?page=68"> 40 UNDER 40 HIGHLYCOMMENDED Mike Draz Shareholde</a> <a title="Issue 56 Jun/Jul page 69" href="https://secure.viewer.zmags.com/publication/c441e72b?page=69"> 40 FORTY UNDER a lot of the nuts and bolts (or </a> <a title="Issue 56 Jun/Jul page 70" href="https://secure.viewer.zmags.com/publication/c441e72b?page=70"> 40 UNDER 40 Paul Jebely Managing Partner and Co-</a> <a title="Issue 56 Jun/Jul page 71" href="https://secure.viewer.zmags.com/publication/c441e72b?page=71"> </a> <a title="Issue 56 Jun/Jul page 72" href="https://secure.viewer.zmags.com/publication/c441e72b?page=72"> 40 FORTY UNDER 40 UNDER 40 Stuart Kennedy </a> <a title="Issue 56 Jun/Jul page 73" href="https://secure.viewer.zmags.com/publication/c441e72b?page=73"> 40 FORTY UNDER Winnie Liu Executive Director, D</a> <a title="Issue 56 Jun/Jul page 74" href="https://secure.viewer.zmags.com/publication/c441e72b?page=74"> 40 UNDER 40 Rory McPhillips Partner, Aviation Fi</a> <a title="Issue 56 Jun/Jul page 75" href="https://secure.viewer.zmags.com/publication/c441e72b?page=75"> 40 FORTY UNDER Patrick Moore Partner, Watson Fa</a> <a title="Issue 56 Jun/Jul page 76" href="https://secure.viewer.zmags.com/publication/c441e72b?page=76"> 40 FORTY UNDER 40 UNDER 40 a finance lawyer,</a> <a title="Issue 56 Jun/Jul page 77" href="https://secure.viewer.zmags.com/publication/c441e72b?page=77"> 40 FORTY UNDER Joe O’Mara 40 UNDER 40 Paul O’</a> <a title="Issue 56 Jun/Jul page 78" href="https://secure.viewer.zmags.com/publication/c441e72b?page=78"> 40 FORTY 40 UNDER 40 UNDER Gabe Okolski Seni</a> <a title="Issue 56 Jun/Jul page 79" href="https://secure.viewer.zmags.com/publication/c441e72b?page=79"> 40 FORTY UNDER Dominic Pearson Partner, Watson </a> <a title="Issue 56 Jun/Jul page 80" href="https://secure.viewer.zmags.com/publication/c441e72b?page=80"> 40 UNDER 40 Steven Patch Co-founder and Chief Ex</a> <a title="Issue 56 Jun/Jul page 81" href="https://secure.viewer.zmags.com/publication/c441e72b?page=81"> </a> <a title="Issue 56 Jun/Jul page 82" href="https://secure.viewer.zmags.com/publication/c441e72b?page=82"> 40 UNDER 40 Renato Salomone Treasurer, TAP Air P</a> <a title="Issue 56 Jun/Jul page 83" href="https://secure.viewer.zmags.com/publication/c441e72b?page=83"> 40 FORTY UNDER Richard Sharman Partner, Bird & </a> <a title="Issue 56 Jun/Jul page 84" href="https://secure.viewer.zmags.com/publication/c441e72b?page=84"> 40 UNDER 40 Brad Sohl Director, ABS Banking & Fi</a> <a title="Issue 56 Jun/Jul page 85" href="https://secure.viewer.zmags.com/publication/c441e72b?page=85"> 40 FORTY UNDER Wes Trowbridge Vice President, C</a> <a title="Issue 56 Jun/Jul page 86" href="https://secure.viewer.zmags.com/publication/c441e72b?page=86"> 40 UNDER 40 HIGHLYCOMMENDED Kevin VanDenBerg Vic</a> <a title="Issue 56 Jun/Jul page 87" href="https://secure.viewer.zmags.com/publication/c441e72b?page=87"> GROWTH FRONTIERS NEW YORK 13-15 OCT</a> <a title="Issue 56 Jun/Jul page 88" href="https://secure.viewer.zmags.com/publication/c441e72b?page=88"> 40 UNDER 40 Lindsey Webster Vice President Asset</a> <a title="Issue 56 Jun/Jul page 89" href="https://secure.viewer.zmags.com/publication/c441e72b?page=89"> 40 FORTY UNDER John Yanney Head of Americas Mar</a> <a title="Issue 56 Jun/Jul page 90" href="https://secure.viewer.zmags.com/publication/c441e72b?page=90"> 40 FORTY 40 UNDER 40 UNDER Airline Economics</a> <a title="Issue 56 Jun/Jul page 91" href="https://secure.viewer.zmags.com/publication/c441e72b?page=91"> Robert (Bob) Agnew (1951-2019) Chairman, Morten B</a> <a title="Issue 56 Jun/Jul page 92" href="https://secure.viewer.zmags.com/publication/c441e72b?page=92"> 40 UNDER 40 Avolon Well respected for its cultur</a> <a title="Issue 56 Jun/Jul page 93" href="https://secure.viewer.zmags.com/publication/c441e72b?page=93"> Robert (Bob) Agnew (1951-2019) Chairman, Morten B</a> <a title="Issue 56 Jun/Jul page 94" href="https://secure.viewer.zmags.com/publication/c441e72b?page=94"> 40 UNDER 40 Mark Bisset Partner, Clyde & Co Mar</a> <a title="Issue 56 Jun/Jul page 95" href="https://secure.viewer.zmags.com/publication/c441e72b?page=95"> 40 FORTY UNDER Carlos Constantini Executive Dir</a> <a title="Issue 56 Jun/Jul page 96" href="https://secure.viewer.zmags.com/publication/c441e72b?page=96"> 40 UNDER 40 Dean Gerber General Counsel, ORIX Av</a> <a title="Issue 56 Jun/Jul page 97" href="https://secure.viewer.zmags.com/publication/c441e72b?page=97"> 40 FORTY UNDER Mario Jacovides 40 UNDER 40 Ge</a> <a title="Issue 56 Jun/Jul page 98" href="https://secure.viewer.zmags.com/publication/c441e72b?page=98"> 40 FORTY UNDER 40 UNDER 40 James Meyler Chief </a> <a title="Issue 56 Jun/Jul page 99" href="https://secure.viewer.zmags.com/publication/c441e72b?page=99"> 40 FORTY UNDER Robert (Bob) Roy Managing Direct</a> <a title="Issue 56 Jun/Jul page 100" href="https://secure.viewer.zmags.com/publication/c441e72b?page=100"> 40 UNDER 40 Edward Sheard SVP & Associate Genera</a> <a title="Issue 56 Jun/Jul page 101" href="https://secure.viewer.zmags.com/publication/c441e72b?page=101"> 40 FORTY UNDER Colin Thaine Consultant (retired</a> <a title="Issue 56 Jun/Jul page 102" href="https://secure.viewer.zmags.com/publication/c441e72b?page=102"> AERGO CAPITAL Predicting the downturn Airline </a> <a title="Issue 56 Jun/Jul page 103" href="https://secure.viewer.zmags.com/publication/c441e72b?page=103"> enough and we are already seeing some lessees com</a> <a title="Issue 56 Jun/Jul page 104" href="https://secure.viewer.zmags.com/publication/c441e72b?page=104"> AERGO CAPITAL which will strengthen the company</a> <a title="Issue 56 Jun/Jul page 105" href="https://secure.viewer.zmags.com/publication/c441e72b?page=105"> GROWTH FRONTIERS DUBAI 28-30 SEPTEMBER 2020 THE</a> <a title="Issue 56 Jun/Jul page 106" href="https://secure.viewer.zmags.com/publication/c441e72b?page=106"> AIRLINE ECONOMICS VIRTUAL CONFERENCE State of </a> <a title="Issue 56 Jun/Jul page 107" href="https://secure.viewer.zmags.com/publication/c441e72b?page=107"> AIRLINE ECONOMICS VIRTUAL CONFERENCE </a> <a title="Issue 56 Jun/Jul page 108" href="https://secure.viewer.zmags.com/publication/c441e72b?page=108"> </a> <a title="Issue 56 Jun/Jul page 109" href="https://secure.viewer.zmags.com/publication/c441e72b?page=109"> Working strategically with our industry part</a> <a title="Issue 56 Jun/Jul page 110" href="https://secure.viewer.zmags.com/publication/c441e72b?page=110"> INTERTRUST Expanding the aviation trustee bu</a> <a title="Issue 56 Jun/Jul page 111" href="https://secure.viewer.zmags.com/publication/c441e72b?page=111"> was with Wells Fargo Trust in London for the past</a> <a title="Issue 56 Jun/Jul page 112" href="https://secure.viewer.zmags.com/publication/c441e72b?page=112"> INTERTRUST Intertrust is the first trustee se</a> <a title="Issue 56 Jun/Jul page 113" href="https://secure.viewer.zmags.com/publication/c441e72b?page=113"> Your trusted partner in aviation 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BRING</a> <a title="Issue 56 Jun/Jul page 120" href="https://secure.viewer.zmags.com/publication/c441e72b?page=120"> DATA MBA Q3 VALUES JULY 2020 OEM Type O</a> <a title="Issue 56 Jun/Jul page 121" href="https://secure.viewer.zmags.com/publication/c441e72b?page=121"> Providing expertise, integrity, and quality to in</a> <a title="Issue 56 Jun/Jul page 122" href="https://secure.viewer.zmags.com/publication/c441e72b?page=122"> DATA JULY 2020 - VALUES AND RATES OEM Typ</a> <a title="Issue 56 Jun/Jul page 123" href="https://secure.viewer.zmags.com/publication/c441e72b?page=123"> IBA.iQ is the leading platform for aviation intel</a> <a title="Issue 56 Jun/Jul page 124" href="https://secure.viewer.zmags.com/publication/c441e72b?page=124"> Global Leaders in Aviation Finance kpmg.ie/aviat</a>