Aircraft Leasing Environment

[WILCO.XMG]

Dear All,

I hope I am posting this in the correct section. If it is more suitable somewhere else just advise where would be more efficient.

I am hoping to pick many of your minds about Aircraft Leasing and how to get involved in the industry. If any of you are in it already I would like to ask you plenty of questions and hopefully answer a few questions I have.

Basically I'm doing an Aerospace Engineering Degree but I don't really want to go into the Engineering sector but instead into Aircraft Leasing.

I've been looking for relevant courses that I think perspective employers would welcome. Some being a Masters in Management in Queens University Belfast. A short course in Cranfield University on Airline Fleet Planning. I'm also planning on starting another language, French / Spanish / German to add to my not to useful Irish I learned in School.

This is my gap year in University before I loose all my time and go into final year. So I'm preparing for employment and I want a few more notches in my belt to hopefully entice some Leasers to my qualities.

If anyone has any relation to leasing your help would be greatly welcomed.

Wilco. XMG

[Re-Heat]

Bit of a tricky one. Suggest the following:

- Commercial banks' ECA departments will develop the contacts with airlines and some lessors, though of course export credits don't apply within the country, so you won't get EU contacts. Problem is that some deal with lessors and others don't.
- GE management training programme in management positions might give you an opportunity to get into GECAS
- Cold call Steve Udvar-Hazy's new business
- Read Airfinance Journal

Not sure directly of anyone who could help, but Cranfield Uni might have some useful links I would imagine.

[WILCO.XMG]

Re-Heat

This is some good news - all helpful.

Going to get cracking and see if I can get in touch with someone and try get in for some experience.

[Cyrano]

Originally Posted by WILCO.XMG

Dear All,

I hope I am posting this in the correct section. If it is more suitable somewhere else just advise where would be more efficient.

I am hoping to pick many of your minds about Aircraft Leasing and how to get involved in the industry. If any of you are in it already I would like to ask you plenty of questions and hopefully answer a few questions I have.

Basically I'm doing an Aerospace Engineering Degree but I don't really want to go into the Engineering sector but instead into Aircraft Leasing.

I've been looking for relevant courses that I think perspective employers would welcome. Some being a Masters in Management in Queens University Belfast. A short course in Cranfield University on Airline Fleet Planning. I'm also planning on starting another language, French / Spanish / German to add to my not to useful Irish I learned in School.

This is my gap year in University before I loose all my time and go into final year. So I'm preparing for employment and I want a few more notches in my belt to hopefully entice some Leasers to my qualities.

If anyone has any relation to leasing your help would be greatly welcomed.

Wilco. XMG

You are at least in one of the world centres for aircraft leasing, so you shouldn't have to go far to find some information. (One note: they're "lessors", not "leasers").

There are several key roles in the leasing business (in addition to generic administration-type jobs that you'd find in any business):

• marketing: talking to airlines, matching their requirements with the aircraft which the lessor has available, agreeing the terms of the contracts, keeping in touch with the airline during the lease and looking after the redelivery (i.e. the return of the aircraft at the end of the lease);
• credit/risk: assessing the business plan and financial strength of the lessee airline (and possibly also the country in which the aircraft is to be registered or operated) to decide whether the proposed deal is worth it, or whether (for example) a higher rent, or higher security deposit, needs to be paid;
• legal: drafting contracts and associated documentation, negotiating the details of the lease (or purchase, or sale), structuring the financing and tax implications of the transaction, and taking care of the actual "handing over the keys" transfer-of-title process;
• technical: inspecting aircraft to see what condition they are in, generally making sure that the airline is looking after the aircraft, ensuring that proper maintenance is being carried out, arranging for engineering work as the aircraft moves between lessees, and occasionally assisting in the recovery of aircraft and technical records if a lessee defaults.

People are drawn to the leasing business for a variety of reasons. Commercial/Marketing people may like chasing deals (and being very well rewarded for $ucce$$). Legal people may appreciate constructing complex but effective deals. Technical people may enjoy being able to work with a variety of aircraft types and airlines. By and large, only some leasing people (I think a minority, actually) are in the business because they like aviation and aircraft; the rest are there because it's a well-paid sector, or because they enjoy the frequent travel, or because it's intellectually challenging work for a lawyer or a credit analyst. So without knowing what exactly attracts you to it, it's hard to be more specific in terms of advice. But it is important to say: don't expect that if you work in a lessor you'll be surrounded by people who love planes and aviation. For many of your colleagues, it's just a business, albeit one with generous expense accounts.

I'm guessing (but could be wrong) that with an engineering degree you are thinking about the Technical side of things.You could equally go in the direction of credit/risk (numeracy, analytical skills, but probably also some finance/accounting/commerce experience) or marketing (but this is a very relationship-based role, so you'd start out at a more junior level).

Technical people in lessors are typically coming from airlines, MRO providers, or aircraft manufacturers, where they've had hands-on experience of keeping aircraft serviceable. Although it's not impossible I think it would be a challenge to go into a technical role without that hands-on experience, but again you could start in a more junior capacity and gain experience.

What might be useful to demonstrate your interest in the industry and enhance your attractiveness to prospective employers? It rather depends on what field you want to go into. But in general, you'll likely be up to speed on airline news: who's placing big orders, what new aircraft types are coming on stream, etc., not to impress an employer but because that's what you're interested in anyway. Doing some kind of business or finance course ("finance for non-financial managers" etc) would be very useful if you have an engineering rather than a business background. And in terms of languages, I'd be inclined to suggest that French or German is really only useful if you want to learn it for your personal satisfaction - everyone involved in aviation finance in those countries speaks English. If you want to differentiate yourself by learning a language likely to be useful in the aircraft leasing business, I'd think "emerging markets" and would therefore suggest either Arabic, Russian or (Latin American) Spanish.

It's a couple of years old, but here is a list of the top 50 aircraft lessors. Browse their websites and you'll get a sense of what they do, where they're located, and (in some cases) what they may be looking for. Similarly there are recruitment agencies (google "aircraft leasing recruitment" for example) who may be able to give you some advice, even if they are looking for more experienced people. But I think it's important that you are able (even for yourself) to answer the question "what is it that attracts me to working in this business?"

Hope this helps

Best regards
C.