As a result of the improving commercial aviation climate, we have begun to strengthen our management and support teams to take advantage of heightened activity on the aircraft leasing and finance horizon.
Dublin, Ireland and Aurora, CO (PRWEB) May 13, 2010
GMT Global Republic Aviation(GMT Global), a wholly owned subsidiary of Republic Financial Corporation, today announced the additions and promotions of corporate personnel as it prepares for improved commercial aviation market conditions.
"Our carrier customers are reporting improved traffic results in the past two calendar quarters and we are seeing overall macroeconomic conditions recover," said Paul Mason, chief executive officer of GMT Global. "We are also encouraged by what we are seeing in our own portfolio, including recent lease extensions and the fact that we have all of our aircraft currently on lease."
GMT Global owns and manages a portfolio of 23 Airbus-manufactured commercial aircraft on lease to operators such as South African Airways, Brussels Airlines, Royal Jordanian Airlines, TAM, Virgin Atlantic Airways and Safi Airways.
"As a result of the improving commercial aviation climate, we have begun to strengthen our management and support teams to take advantage of heightened activity on the aircraft leasing and finance horizon," Mason added.
Mason said that Michael Coviello has joined GMT Global's Aurora office as managing director of technical services. Coviello brings more than three decades of experience in the leasing, trading, maintenance and operation of corporate and transport aircraft and airline operations. Prior to joining GMT Global, he served as director of marketing and technical management with Mountain Capital Partners and has held various leadership roles for companies such as AirCapital Aviation Services, Back Aviation, GMT Global and Tombo Aviation.
Coviello, who served as director of programs and managed two part-out programs in a previous stint at GMT Global, held an FAA Airframe & Powerplant (A&P) certificate for more than 30 years. He earned an AAS in Aircraft Maintenance Technology from the College of Aeronautics. He is a member of the International Society of Transport Aircraft Trading (ISTAT).
The company has also added Micheal Joyce, who joins GMT Global's Dublin office as accountant. Most recently, Joyce served as qualified accountant for KPMG Dublin responsible for audits of various financial sectors including the aircraft leasing industry.
GMT Global also announced the following promotions:
Richard Spaulding, who joined GMT Global in 2005 and is based in the company's Reston, Virginia office, has been promoted to the role of senior managing director. Spaulding possesses more than 25 years of aircraft sales and financing experience, most recently as a sales executive with the Asset Management Group within Bombardier Regional Aircraft. Prior to that, he was a portfolio manager and structured finance advisor for The CIT Group where he was responsible for the management of daily operations of a 100+ aircraft portfolio. He is a marketing and management graduate of James Madison University.
Edmund Tatar has been promoted to managing director. Since joining GMT Global in 2005, he has held a variety of positions in the company's Aurora office, most recently as director of finance and transactions, where he had a direct role in acquiring and selling aviation assets, including transaction structuring and development, financial analysis, due diligence, underwriting, and negotiations. Prior to GMT Global, he was employed by American Airlines, where he served in a variety of finance and planning roles. He holds a bachelor's degree in economics from the Wharton School of the University of Pennsylvania and an MBA from the University of Texas at Austin.
Paul Shanley, who has served as controller since 2008, has been promoted to the role of assistant treasurer. Shanley joined GMT Global from AIB International Financial Services where he was team leader aircraft leasing, responsible for a large portfolio of aircraft leasing companies. During this period, he also served as project manager for Genesis Lease Ltd., now Genesis Lease Limited is now a wholly-owned subsidiary of AerCap Holdings N.V. Shanley is certified by the Institute of Chartered Accountants Ireland as Qualified Chartered Accountant and manages the accounts in GMT's Dublin-based headquarters.
Germaine Holden, based in the Aurora office, has been promoted to director, asset technical services. During his tenure with GMT Global, he has successfully managed the repossession, placement and re-delivery of various aircraft. Previously, he held operating roles for technology companies owned and managed by Republic Financial Corporation. Mr. Holden is a Notre Dame graduate and earned an MBA degree from the University of Denver.
About GMT Global Republic Aviation
GMT Global Republic Aviation is an international strategic aviation company that acquires, leases and manages a fleet of commercial aircraft. The Dublin-based company focuses on creating value through strategic growth and has adopted a "value not volume" business model. Managed by a team of senior aviation executives and staff with extensive world-class experience in manufacturing, commercial-passenger, and air-cargo carriers, GMT Global owns and manages a portfolio of 23 aircraft. More information available at: http://www.republic-financial.com/aviation.
About Republic Financial Corporation
Republic Financial Corporation, the parent company of GMT Global Aviation, is a privately held company headquartered in Aurora, Colorado, with investment interests in a diverse pool of operating companies and assets, specializing in aviation, equipment-leasing portfolios, private equity, and distressed commercial debt. Since 1971, Republic Financial Corporation has invested in assets worth over $1 billion, achieving commercial success by developing creative solutions to difficult and complex business situations. More information available at: http://www.republic-financial.com.