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<br /> ISSUE THIRTYTWO JUNE/JULY 2016<br /> THE LEADING GLOBAL PUBLICATION FOR OPERATORS OF AND INVESTORS IN AIRCRAFT AND ENGINES<br /> 40 under 40<br /> Airline Economics recognises the<br /> top talent in aviation aged under 40<br /> www.aviationnews-online.com<br /> Picture yourself<br /> a generation ahead.<br /> Pratt & Whitney's PurePower® Geared Turbofan™ engines are now in commercial service.<br /> The PurePower GTF engine powers the new generation of airliners, and their new generation<br /> of passengers. More and more next-generation operators are adopting the cleaner, greener,<br /> quieter engine. Because that's how their customers want to fly. Visit us at Pavilion OE3.<br /> A United Technologies Company Connect with us<br /> EDITOR’S LETTER<br /> FDI OPENS UP EMERGING MARKETS<br /><a title="Issue 32 June/July page 1" href="http://viewer.zmags.com/publication/40252227?page=1"> ISSUE THIRTYTWO </a> <a title="Issue 32 June/July page 2" href="http://viewer.zmags.com/publication/40252227?page=2"> Picture yourself a generation ahead. </a> <a title="Issue 32 June/July page 3" href="http://viewer.zmags.com/publication/40252227?page=3"> EDITOR’S LETTER FDI OPENS UP EMERGING MARKETS </a> <a title="Issue 32 June/July page 4" href="http://viewer.zmags.com/publication/40252227?page=4"> CONTENTS 1 FDI opens up emerging markets Lett</a> <a title="Issue 32 June/July page 5" href="http://viewer.zmags.com/publication/40252227?page=5"> </a> <a title="Issue 32 June/July page 6" href="http://viewer.zmags.com/publication/40252227?page=6"> NEWS HAIL closes oversubscribed AerGen's debut </a> <a title="Issue 32 June/July page 7" href="http://viewer.zmags.com/publication/40252227?page=7"> It's about you.</a> <a title="Issue 32 June/July page 8" href="http://viewer.zmags.com/publication/40252227?page=8"> NEWS American Airlines issues B notes </a> <a title="Issue 32 June/July page 9" href="http://viewer.zmags.com/publication/40252227?page=9"> Aset Management • • • • Remarketing Services </a> <a title="Issue 32 June/July page 10" href="http://viewer.zmags.com/publication/40252227?page=10"> NEWS WestJet issues senior unsecured notes West</a> <a title="Issue 32 June/July page 11" href="http://viewer.zmags.com/publication/40252227?page=11"> Global Leaders in Aviation Finance KPMG i</a> <a title="Issue 32 June/July page 12" href="http://viewer.zmags.com/publication/40252227?page=12"> Bombardier, and the Evolution of Mobility, are tr</a> <a title="Issue 32 June/July page 13" href="http://viewer.zmags.com/publication/40252227?page=13"> C Series Q Series </a> <a title="Issue 32 June/July page 14" href="http://viewer.zmags.com/publication/40252227?page=14"> NEWS Bombardier delivers first C Series; secure</a> <a title="Issue 32 June/July page 15" href="http://viewer.zmags.com/publication/40252227?page=15"> </a> <a title="Issue 32 June/July page 16" href="http://viewer.zmags.com/publication/40252227?page=16"> NEWS DOT rejects Norwegian Air US license </a> <a title="Issue 32 June/July page 17" href="http://viewer.zmags.com/publication/40252227?page=17"> Global Transportation Finance Global clients. G</a> <a title="Issue 32 June/July page 18" href="http://viewer.zmags.com/publication/40252227?page=18"> NEWS Brazil agrees 100% FDI The full Chamber of</a> <a title="Issue 32 June/July page 19" href="http://viewer.zmags.com/publication/40252227?page=19"> 飞得更高 交银金融租赁 Bocomm Leasing Flying Higher </a> <a title="Issue 32 June/July page 20" href="http://viewer.zmags.com/publication/40252227?page=20"> NEWS 100% FDI in airlines arrives in India </a> <a title="Issue 32 June/July page 21" href="http://viewer.zmags.com/publication/40252227?page=21"> Propelling New Horizons 99.7% 5,000 </a> <a title="Issue 32 June/July page 22" href="http://viewer.zmags.com/publication/40252227?page=22"> NEWS AWAS orders 15 A320s AWAS</a> <a title="Issue 32 June/July page 23" href="http://viewer.zmags.com/publication/40252227?page=23"> </a> <a title="Issue 32 June/July page 24" href="http://viewer.zmags.com/publication/40252227?page=24"> NEWS QFB and Novus acquire two 737-900ERs Qatar</a> <a title="Issue 32 June/July page 25" href="http://viewer.zmags.com/publication/40252227?page=25"> GROWTH FRONTIERS MIDDLE EAST & AFRICA 2016 Suppor</a> <a title="Issue 32 June/July page 26" href="http://viewer.zmags.com/publication/40252227?page=26"> </a> <a title="Issue 32 June/July page 27" href="http://viewer.zmags.com/publication/40252227?page=27"> www.rolls-royce.com/servicescatalogue In t</a> <a title="Issue 32 June/July page 28" href="http://viewer.zmags.com/publication/40252227?page=28"> NEWS Sita: Airlines investing in cyber security</a> <a title="Issue 32 June/July page 29" href="http://viewer.zmags.com/publication/40252227?page=29"> View the possibilities... www.jet-data.com </a> <a title="Issue 32 June/July page 30" href="http://viewer.zmags.com/publication/40252227?page=30"> NEWS ALC names Plueger as CEO and president Joh</a> <a title="Issue 32 June/July page 31" href="http://viewer.zmags.com/publication/40252227?page=31"> GROWTH FRONTIERS ASIA-PACIFIC 2016 Supporting: 1s</a> <a title="Issue 32 June/July page 32" href="http://viewer.zmags.com/publication/40252227?page=32"> NEWS Svensson named new CFO at Lufthansa </a> <a title="Issue 32 June/July page 33" href="http://viewer.zmags.com/publication/40252227?page=33"> GROWTH FRONTIERS DUBLIN 2017 Supporting: 15th-18t</a> <a title="Issue 32 June/July page 34" href="http://viewer.zmags.com/publication/40252227?page=34"> </a> <a title="Issue 32 June/July page 35" href="http://viewer.zmags.com/publication/40252227?page=35"> FORTY 40 FORTY 40under 40 UNDER Airline Econo</a> <a title="Issue 32 June/July page 36" href="http://viewer.zmags.com/publication/40252227?page=36"> 40 UNDER 40 SimonAzar-SalesDirectorAsia,Airbus W</a> <a title="Issue 32 June/July page 37" href="http://viewer.zmags.com/publication/40252227?page=37"> </a> <a title="Issue 32 June/July page 38" href="http://viewer.zmags.com/publication/40252227?page=38"> FORTY 40 40 UNDER 40 UNDER FORTY GregBristol-</a> <a title="Issue 32 June/July page 39" href="http://viewer.zmags.com/publication/40252227?page=39"> FORTY 40 FORTY 4Taz Es0mail UNDER - Head of </a> <a title="Issue 32 June/July page 40" href="http://viewer.zmags.com/publication/40252227?page=40"> FORTY 40 40 UNDER 40 UNDER FORTY BradleyGrego</a> <a title="Issue 32 June/July page 41" href="http://viewer.zmags.com/publication/40252227?page=41"> FORTY 40 </a> <a title="Issue 32 June/July page 42" href="http://viewer.zmags.com/publication/40252227?page=42"> MRO GLOBAL EXHIBITION & ASSET LIFE </a> <a title="Issue 32 June/July page 43" href="http://viewer.zmags.com/publication/40252227?page=43"> For more information and bookings contact: guy@av</a> <a title="Issue 32 June/July page 44" href="http://viewer.zmags.com/publication/40252227?page=44"> 40 UNDER 40 Ian Malin - CEO, AJW Capital After </a> <a title="Issue 32 June/July page 45" href="http://viewer.zmags.com/publication/40252227?page=45"> FORTY 40 FORTY 4Maria0Rodriguez UNDER - Dire</a> <a title="Issue 32 June/July page 46" href="http://viewer.zmags.com/publication/40252227?page=46"> 40 UNDER 40 Joseph Shanahan - Managing Director,</a> <a title="Issue 32 June/July page 47" href="http://viewer.zmags.com/publication/40252227?page=47"> FORTY 40 FORTY 4Borna0Vrdoljak UNDER - A350 </a> <a title="Issue 32 June/July page 48" href="http://viewer.zmags.com/publication/40252227?page=48"> BREXIT Brexit – the aviation fallout Airline </a> <a title="Issue 32 June/July page 49" href="http://viewer.zmags.com/publication/40252227?page=49"> in the run up to the UK referendum during June, I</a> <a title="Issue 32 June/July page 50" href="http://viewer.zmags.com/publication/40252227?page=50"> BREXIT aerospace industries as their activi</a> <a title="Issue 32 June/July page 51" href="http://viewer.zmags.com/publication/40252227?page=51"> AIRCRAFT INVESTOR DAYS LONDON 2016 7th-8th Decemb</a> <a title="Issue 32 June/July page 52" href="http://viewer.zmags.com/publication/40252227?page=52"> LESSOR PROFILE Aloha Kahala Kahala Aviation </a> <a title="Issue 32 June/July page 53" href="http://viewer.zmags.com/publication/40252227?page=53"> of another founder Mark Thatcher, combined wi</a> <a title="Issue 32 June/July page 54" href="http://viewer.zmags.com/publication/40252227?page=54"> LESSOR PROFILE $12 each an</a> <a title="Issue 32 June/July page 55" href="http://viewer.zmags.com/publication/40252227?page=55"> value added end of the business. We have looked a</a> <a title="Issue 32 June/July page 56" href="http://viewer.zmags.com/publication/40252227?page=56"> 2016 so far: slowing growth IBA Group’s Stuart Ha</a> <a title="Issue 32 June/July page 57" href="http://viewer.zmags.com/publication/40252227?page=57"> pricing was hovering above the $20- 30 mark, trad</a> <a title="Issue 32 June/July page 58" href="http://viewer.zmags.com/publication/40252227?page=58"> IBA INSIGHT It's too ear</a> <a title="Issue 32 June/July page 59" href="http://viewer.zmags.com/publication/40252227?page=59"> is still going to be a real test for the secondar</a> <a title="Issue 32 June/July page 60" href="http://viewer.zmags.com/publication/40252227?page=60"> ISTAT The ISTAT Foundation Scholar</a> <a title="Issue 32 June/July page 61" href="http://viewer.zmags.com/publication/40252227?page=61"> $450,000 </a> <a title="Issue 32 June/July page 62" href="http://viewer.zmags.com/publication/40252227?page=62"> RESIDUAL VALUES Valuing Residual Value The s</a> <a title="Issue 32 June/July page 63" href="http://viewer.zmags.com/publication/40252227?page=63"> an “idealized” market. Since ISTAT does not have </a> <a title="Issue 32 June/July page 64" href="http://viewer.zmags.com/publication/40252227?page=64"> COLLATERAL VERIFICATIONS </a> <a title="Issue 32 June/July page 65" href="http://viewer.zmags.com/publication/40252227?page=65"> COLLATERAL VERIFICATIONS 3 3 3 CFM CFM 10</a> <a title="Issue 32 June/July page 66" href="http://viewer.zmags.com/publication/40252227?page=66"> COLLATERAL VERIFICATIONS METHODOLOGY CURRENT M</a> <a title="Issue 32 June/July page 67" href="http://viewer.zmags.com/publication/40252227?page=67"> COLLATERAL VERIFICATIONS BOEING 737‐400F (AS OF </a> <a title="Issue 32 June/July page 68" href="http://viewer.zmags.com/publication/40252227?page=68"> DATA ENGINE VALUES - 3Q 2016 OEM Engine </a> <a title="Issue 32 June/July page 69" href="http://viewer.zmags.com/publication/40252227?page=69"> DATA 2016 ORDERS TO DATE OEM Customer Name</a> <a title="Issue 32 June/July page 70" href="http://viewer.zmags.com/publication/40252227?page=70"> DATA VALUES AND LEASE RATES - 3Q 2016 1s</a> <a title="Issue 32 June/July page 71" href="http://viewer.zmags.com/publication/40252227?page=71"> </a> <a title="Issue 32 June/July page 72" href="http://viewer.zmags.com/publication/40252227?page=72"> Experience, Flexibility & Speed Matters What matt</a>