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<br /> ISSUE THIRTY FEBRUARY/MARCH 2016<br /> THE LEADING GLOBAL PUBLICATION FOR OPERATORS OF AND INVESTORS IN AIRCRAFT AND ENGINES<br /> www.aviationnews-online.com<br /> The difference is monumental.<br /> We're beating our commitment on improved fuel burn efficiency, now<br /> exceeding 16%. Just the kind of ongoing improvement we told you to expect<br /> from our PurePower® Geared Turbofan™ engine architecture. Learn more at<br /> PurePowerEngines.com.<br /> PurePower Geared Turbofan Engines<br /> EDITOR’S LETTER<br /> CELEBRATING INNOVATION<br /> 2015 was an incredible year for the commercial aviation business. Airlines enjoyed<br /> a benign economic environment and benefitted for the most part from falling oil<br /> prices, which they used to drive passenger growth. Aircraft lessors also benefitted<br /> and helped airlines finance those deliveries through the ultra-<a title="Issue 30 February/March Rev page 1" href="http://viewer.zmags.com/publication/523c9aa9?page=1"> ISSUE THIRTY </a> <a title="Issue 30 February/March Rev page 2" href="http://viewer.zmags.com/publication/523c9aa9?page=2"> The difference is monumental. We're beating o</a> <a title="Issue 30 February/March Rev page 3" href="http://viewer.zmags.com/publication/523c9aa9?page=3"> EDITOR’S LETTER CELEBRATING INNOVATION 2015 </a> <a title="Issue 30 February/March Rev page 4" href="http://viewer.zmags.com/publication/523c9aa9?page=4"> CONTENTS 1 Celebrating innovation Letter from </a> <a title="Issue 30 February/March Rev page 5" href="http://viewer.zmags.com/publication/523c9aa9?page=5"> </a> <a title="Issue 30 February/March Rev page 6" href="http://viewer.zmags.com/publication/523c9aa9?page=6"> NEWS Nordic Aviation Capital to acquire Jetscap</a> <a title="Issue 30 February/March Rev page 7" href="http://viewer.zmags.com/publication/523c9aa9?page=7"> www.afiklmem.com </a> <a title="Issue 30 February/March Rev page 8" href="http://viewer.zmags.com/publication/523c9aa9?page=8"> NEWS Apollo Aviation prepares ABS launch Apollo</a> <a title="Issue 30 February/March Rev page 9" href="http://viewer.zmags.com/publication/523c9aa9?page=9"> OUR EXPERIENCE DRIVES YOUR EXCELLENCE. Visit Us </a> <a title="Issue 30 February/March Rev page 10" href="http://viewer.zmags.com/publication/523c9aa9?page=10"> NEWS Republic Airways restructuring under Chapt</a> <a title="Issue 30 February/March Rev page 11" href="http://viewer.zmags.com/publication/523c9aa9?page=11"> Global Aircraft Lessor Operating Leasing Sal</a> <a title="Issue 30 February/March Rev page 12" href="http://viewer.zmags.com/publication/523c9aa9?page=12"> Bombardier, and the Evolution of Mobility, are tr</a> <a title="Issue 30 February/March Rev page 13" href="http://viewer.zmags.com/publication/523c9aa9?page=13"> C Series Q Series </a> <a title="Issue 30 February/March Rev page 14" href="http://viewer.zmags.com/publication/523c9aa9?page=14"> NEWS AFC and EMP close sale-leaseback with Emir</a> <a title="Issue 30 February/March Rev page 15" href="http://viewer.zmags.com/publication/523c9aa9?page=15"> NEWS Hong Kong presses ahead with aviation refor</a> <a title="Issue 30 February/March Rev page 16" href="http://viewer.zmags.com/publication/523c9aa9?page=16"> What is today’s best aircraft investment that ens</a> <a title="Issue 30 February/March Rev page 17" href="http://viewer.zmags.com/publication/523c9aa9?page=17"> Airbus Widebody aircraft. Offering sta</a> <a title="Issue 30 February/March Rev page 18" href="http://viewer.zmags.com/publication/523c9aa9?page=18"> NEWS Qantas returns to investment grade Qantas </a> <a title="Issue 30 February/March Rev page 19" href="http://viewer.zmags.com/publication/523c9aa9?page=19"> </a> <a title="Issue 30 February/March Rev page 20" href="http://viewer.zmags.com/publication/523c9aa9?page=20"> NEWS Air Transport Services Group confirms Amaz</a> <a title="Issue 30 February/March Rev page 21" href="http://viewer.zmags.com/publication/523c9aa9?page=21"> GROWTH FRONTIERS MIDDLE EAST & AFRICA 2016 Suppo</a> <a title="Issue 30 February/March Rev page 22" href="http://viewer.zmags.com/publication/523c9aa9?page=22"> NEWS Frontier appoints Biffle as president and </a> <a title="Issue 30 February/March Rev page 23" href="http://viewer.zmags.com/publication/523c9aa9?page=23"> GROWTH FRONTIERS ASIA-PACIFIC 2016 Supporting: 3</a> <a title="Issue 30 February/March Rev page 24" href="http://viewer.zmags.com/publication/523c9aa9?page=24"> NEWS Pillsbury expands in Asia and New York Pil</a> <a title="Issue 30 February/March Rev page 25" href="http://viewer.zmags.com/publication/523c9aa9?page=25"> </a> <a title="Issue 30 February/March Rev page 26" href="http://viewer.zmags.com/publication/523c9aa9?page=26"> LEASE ACCOUNTING Lease Account</a> <a title="Issue 30 February/March Rev page 27" href="http://viewer.zmags.com/publication/523c9aa9?page=27"> LEASE ACCOUNTING Right-of-use asset Lease liabi</a> <a title="Issue 30 February/March Rev page 28" href="http://viewer.zmags.com/publication/523c9aa9?page=28"> 12 </a> <a title="Issue 30 February/March Rev page 29" href="http://viewer.zmags.com/publication/523c9aa9?page=29"> THE AVATION 100 AWARD WINNERS Aviation 1</a> <a title="Issue 30 February/March Rev page 30" href="http://viewer.zmags.com/publication/523c9aa9?page=30"> AVIATION 100 INTRODUCTION Ano</a> <a title="Issue 30 February/March Rev page 31" href="http://viewer.zmags.com/publication/523c9aa9?page=31"> AVIATION 100 INTRODUCTION The Airline Econ</a> <a title="Issue 30 February/March Rev page 32" href="http://viewer.zmags.com/publication/523c9aa9?page=32"> AVIATION 100 RANKING TABLES Aviation 100 Rankin</a> <a title="Issue 30 February/March Rev page 33" href="http://viewer.zmags.com/publication/523c9aa9?page=33"> AVIATION 100 RANKING TABLES LAW FIRM OF TH</a> <a title="Issue 30 February/March Rev page 34" href="http://viewer.zmags.com/publication/523c9aa9?page=34"> KPMG PROFILE KPMG</a> <a title="Issue 30 February/March Rev page 35" href="http://viewer.zmags.com/publication/523c9aa9?page=35"> Global Leaders in Aviation Finance KPMG i</a> <a title="Issue 30 February/March Rev page 36" href="http://viewer.zmags.com/publication/523c9aa9?page=36"> ORIX AVIATION PROFILE Based</a> <a title="Issue 30 February/March Rev page 37" href="http://viewer.zmags.com/publication/523c9aa9?page=37"> Aset Management • • • • Remarketing Services </a> <a title="Issue 30 February/March Rev page 38" href="http://viewer.zmags.com/publication/523c9aa9?page=38"> CEO OF THE YEAR Willie Wals</a> <a title="Issue 30 February/March Rev page 39" href="http://viewer.zmags.com/publication/523c9aa9?page=39"> that IAG will have a sufficient buffer in Aer Lin</a> <a title="Issue 30 February/March Rev page 40" href="http://viewer.zmags.com/publication/523c9aa9?page=40"> AIRLINK HUMANITARIAN AWARDS Airlink Humanitaria</a> <a title="Issue 30 February/March Rev page 41" href="http://viewer.zmags.com/publication/523c9aa9?page=41"> crisis. “We are greatly honored to have our effor</a> <a title="Issue 30 February/March Rev page 42" href="http://viewer.zmags.com/publication/523c9aa9?page=42"> OVERALL DEAL OF THE YEAR </a> <a title="Issue 30 February/March Rev page 43" href="http://viewer.zmags.com/publication/523c9aa9?page=43"> OVERALL DEAL OF THE YEAR placement due to the v</a> <a title="Issue 30 February/March Rev page 44" href="http://viewer.zmags.com/publication/523c9aa9?page=44"> See how we work in partnership with Hawaiian Airl</a> <a title="Issue 30 February/March Rev page 45" href="http://viewer.zmags.com/publication/523c9aa9?page=45"> Aloha! Rolls-Royce</a> <a title="Issue 30 February/March Rev page 46" href="http://viewer.zmags.com/publication/523c9aa9?page=46"> AIRLINE OF THE YEAR Airline</a> <a title="Issue 30 February/March Rev page 47" href="http://viewer.zmags.com/publication/523c9aa9?page=47"> currency they were down 3.9%. Fuel unit costs bef</a> <a title="Issue 30 February/March Rev page 48" href="http://viewer.zmags.com/publication/523c9aa9?page=48"> LESSOR OF THE YEAR Lessor</a> <a title="Issue 30 February/March Rev page 49" href="http://viewer.zmags.com/publication/523c9aa9?page=49"> subsidiaries, AerCap Ireland Capital Limited a</a> <a title="Issue 30 February/March Rev page 50" href="http://viewer.zmags.com/publication/523c9aa9?page=50"> M&A DEAL OF THE YEAR M&A Deal of the Year: EQT’</a> <a title="Issue 30 February/March Rev page 51" href="http://viewer.zmags.com/publication/523c9aa9?page=51"> Law Firm of the Year: Clyde & Co Cly</a> <a title="Issue 30 February/March Rev page 52" href="http://viewer.zmags.com/publication/523c9aa9?page=52"> BANK OF THE YEAR Bank of th</a> <a title="Issue 30 February/March Rev page 53" href="http://viewer.zmags.com/publication/523c9aa9?page=53"> financings and $13.7 billion of capital markets </a> <a title="Issue 30 February/March Rev page 54" href="http://viewer.zmags.com/publication/523c9aa9?page=54"> AMERICAS DEAL OF THE YEAR </a> <a title="Issue 30 February/March Rev page 55" href="http://viewer.zmags.com/publication/523c9aa9?page=55"> and BBB- from S&P. The initial and max LTV on the</a> <a title="Issue 30 February/March Rev page 56" href="http://viewer.zmags.com/publication/523c9aa9?page=56"> DEBT DEAL OF THE YEAR Deb</a> <a title="Issue 30 February/March Rev page 57" href="http://viewer.zmags.com/publication/523c9aa9?page=57"> quality, diverse investor book of 27 unique </a> <a title="Issue 30 February/March Rev page 58" href="http://viewer.zmags.com/publication/523c9aa9?page=58"> EUROPEAN DEAL OF THE YEAR European Deal of the </a> <a title="Issue 30 February/March Rev page 59" href="http://viewer.zmags.com/publication/523c9aa9?page=59"> EDITOR’S DEAL OF THE YEAR Editor’s Deal of the </a> <a title="Issue 30 February/March Rev page 60" href="http://viewer.zmags.com/publication/523c9aa9?page=60"> MIDDLE EAST DEAL OF THE YEAR </a> <a title="Issue 30 February/March Rev page 61" href="http://viewer.zmags.com/publication/523c9aa9?page=61"> MIDDLE EAST DEAL OF THE YEAR transaction. That</a> <a title="Issue 30 February/March Rev page 62" href="http://viewer.zmags.com/publication/523c9aa9?page=62"> EQUITY DEAL OF THE YEAR Equity Deal of the Year</a> <a title="Issue 30 February/March Rev page 63" href="http://viewer.zmags.com/publication/523c9aa9?page=63"> APPRAISER OF THE YEAR Appraiser of the Year: As</a> <a title="Issue 30 February/March Rev page 64" href="http://viewer.zmags.com/publication/523c9aa9?page=64"> MRO OF THE YEAR MRO of the Year: Air France-KLM</a> <a title="Issue 30 February/March Rev page 65" href="http://viewer.zmags.com/publication/523c9aa9?page=65"> PARTS SUPPLIER OF THE YEAR Parts Supplier of th</a> <a title="Issue 30 February/March Rev page 66" href="http://viewer.zmags.com/publication/523c9aa9?page=66"> ROLLS-ROYCE </a> <a title="Issue 30 February/March Rev page 67" href="http://viewer.zmags.com/publication/523c9aa9?page=67"> ROLLS-ROYCE Flexible care Airline Economics spe</a> <a title="Issue 30 February/March Rev page 68" href="http://viewer.zmags.com/publication/523c9aa9?page=68"> ROLLS-ROYCE went along a</a> <a title="Issue 30 February/March Rev page 69" href="http://viewer.zmags.com/publication/523c9aa9?page=69"> Planned engine life $/efh Engine always fully re</a> <a title="Issue 30 February/March Rev page 70" href="http://viewer.zmags.com/publication/523c9aa9?page=70"> ROLLS-ROYCE South Africa</a> <a title="Issue 30 February/March Rev page 71" href="http://viewer.zmags.com/publication/523c9aa9?page=71"> ROLLS-ROYCE Trent Service Netw</a> <a title="Issue 30 February/March Rev page 72" href="http://viewer.zmags.com/publication/523c9aa9?page=72"> ROLLS-ROYCE Technik, C</a> <a title="Issue 30 February/March Rev page 73" href="http://viewer.zmags.com/publication/523c9aa9?page=73"> ISTAT asia tuesday – thursday 17–19 May 2016 </a> <a title="Issue 30 February/March Rev page 74" href="http://viewer.zmags.com/publication/523c9aa9?page=74"> SKYWORKS Fleet planning</a> <a title="Issue 30 February/March Rev page 75" href="http://viewer.zmags.com/publication/523c9aa9?page=75"> economic value through the adoption of more dynam</a> <a title="Issue 30 February/March Rev page 76" href="http://viewer.zmags.com/publication/523c9aa9?page=76"> aircraft types developed This cpoaspteo</a> <a title="Issue 30 February/March Rev page 77" href="http://viewer.zmags.com/publication/523c9aa9?page=77"> A330-900neo 100% 375 8,700 A350</a> <a title="Issue 30 February/March Rev page 78" href="http://viewer.zmags.com/publication/523c9aa9?page=78"> addition, the levels we have established do not </a> <a title="Issue 30 February/March Rev page 79" href="http://viewer.zmags.com/publication/523c9aa9?page=79"> ALTERNATIVE AIRCRAFT SOURCING STRATEGIES SkyW</a> <a title="Issue 30 February/March Rev page 80" href="http://viewer.zmags.com/publication/523c9aa9?page=80"> Iran: Minimising risk and maximising opportunity </a> <a title="Issue 30 February/March Rev page 81" href="http://viewer.zmags.com/publication/523c9aa9?page=81"> amplifier whose volume dial went to “11” rather th</a> <a title="Issue 30 February/March Rev page 82" href="http://viewer.zmags.com/publication/523c9aa9?page=82"> IRANIAN AVIATION youngest planes flying are stil</a> <a title="Issue 30 February/March Rev page 83" href="http://viewer.zmags.com/publication/523c9aa9?page=83"> IRANIAN AVIATION 3 11 22 Airbus Fokker </a> <a title="Issue 30 February/March Rev page 84" href="http://viewer.zmags.com/publication/523c9aa9?page=84"> IRANIAN AVIATION pole position to secure th</a> <a title="Issue 30 February/March Rev page 85" href="http://viewer.zmags.com/publication/523c9aa9?page=85"> View the possibilities... www.jet-data.com </a> <a title="Issue 30 February/March Rev page 86" href="http://viewer.zmags.com/publication/523c9aa9?page=86"> IRAN Iran: The race for spoils Graham Tyler, Part</a> <a title="Issue 30 February/March Rev page 87" href="http://viewer.zmags.com/publication/523c9aa9?page=87"> industry brain drain that has occurred in Iran. </a> <a title="Issue 30 February/March Rev page 88" href="http://viewer.zmags.com/publication/523c9aa9?page=88"> MRO Aviation MROs How aviation maintenance, re</a> <a title="Issue 30 February/March Rev page 89" href="http://viewer.zmags.com/publication/523c9aa9?page=89"> MRO to outsource maintenance activities – fact</a> <a title="Issue 30 February/March Rev page 90" href="http://viewer.zmags.com/publication/523c9aa9?page=90"> MRO 1 Content – Chapter 1 Design & Manuf</a> <a title="Issue 30 February/March Rev page 91" href="http://viewer.zmags.com/publication/523c9aa9?page=91"> MRO 3 Circle graphics 1. Define USP and Mark</a> <a title="Issue 30 February/March Rev page 92" href="http://viewer.zmags.com/publication/523c9aa9?page=92"> COLLATERAL VERIFICATIONS </a> <a title="Issue 30 February/March Rev page 93" href="http://viewer.zmags.com/publication/523c9aa9?page=93"> 3 172 In Service 3 On Order 3 </a> <a title="Issue 30 February/March Rev page 94" href="http://viewer.zmags.com/publication/523c9aa9?page=94"> COLLATERAL VERIFICATIONS </a> <a title="Issue 30 February/March Rev page 95" href="http://viewer.zmags.com/publication/523c9aa9?page=95"> COLLATERAL VERIFICATIONS BOEING 777‐300ER (AS OF</a> <a title="Issue 30 February/March Rev page 96" href="http://viewer.zmags.com/publication/523c9aa9?page=96"> COLLATERAL VERIFICATIONS </a> <a title="Issue 30 February/March Rev page 97" href="http://viewer.zmags.com/publication/523c9aa9?page=97"> COLLATERAL VERIFICATIONS 41 41 111341 1113 </a> <a title="Issue 30 February/March Rev page 98" href="http://viewer.zmags.com/publication/523c9aa9?page=98"> COLLATERAL VERIFICATIONS </a> <a title="Issue 30 February/March Rev page 99" href="http://viewer.zmags.com/publication/523c9aa9?page=99"> COLLATERAL VERIFICATIONS BOEING 737-800 (AS OF J</a> <a title="Issue 30 February/March Rev page 100" href="http://viewer.zmags.com/publication/523c9aa9?page=100"> DATA ENGINE VALUES AS OF 1ST MARCH 2016 OEM </a> <a title="Issue 30 February/March Rev page 101" href="http://viewer.zmags.com/publication/523c9aa9?page=101"> DATA ORDERS AS OF 1ST MARCH 2016 OEM Cust</a> <a title="Issue 30 February/March Rev page 102" href="http://viewer.zmags.com/publication/523c9aa9?page=102"> DATA VALUES AND LEASE RATES AS OF 1ST MARCH 2</a> <a title="Issue 30 February/March Rev page 103" href="http://viewer.zmags.com/publication/523c9aa9?page=103"> COLLATERAL VERIFICATIONS ADVISORY SERVICES </a> <a title="Issue 30 February/March Rev page 104" href="http://viewer.zmags.com/publication/523c9aa9?page=104"> It's about you.</a>