PROFILE - GARY J PALIN GARY J PALIN

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PROFILE

Gary is an accomplished aviation and airline industry economist, strategic planner, administrator and contracting specialist, having gained a comprehensive experience across all sectors of commercial aircraft operations and management over more than 35 years in the industry.

Commencing his career in the field of aircraft performance and airline economic analysis in support of new aircraft sales, Gary migrated to front-line operations and has since served in key management roles at scheduled, charter and regional airlines in Europe, the Middle-East, Africa and the Americas in areas of general management, strategic planning, aircraft acquisitions, flight and ground operations, corporate development and marketing. As an approved AOC Postholder and Accountable Manager since the early ‘eighties, he has held total responsibility for the safe operation and maintenance of multiple aircraft fleets, commercial management in many theatres of operation, and been intimately involved in all facets of the global airline and aviation business.

Gary has throughout remained actively engaged in the specialist field of aircraft transactional management, including fleet planning, aircraft evaluation, acquisitions, disposals, finance and leasing, having personally handled well over 275 jet aircraft transactions. This has included the evaluation and purchase negotiation of new and airliners and all principal models. He has somewhat uniquely overseen aircraft transactions for airlines, governments, multinational corporations and private individuals, encompassing most principal airline, regional and private/corporate aircraft types, and has contributed to a number of industry journals on the subject of aircraft selection, operations and related economics.

As a consultant, Gary has been engaged on international projects under the auspices of the European Union and World Bank and others for organisations such as British Aerospace, Shell, leading international professional firms and financial institutions. These have included airline, airport, MRO and OEM due diligence audits, strategic business reviews, business plan development, forensic investigation, mergers and acquisitions, fleet and network reviews, aircraft evaluation studies, cost benchmarking, interim management, route start-ups, and the structuring and administration of contract tender and negotiation processes. He has also been retained to source and acquire aircraft and to set up and oversee turnkey aircraft operations for a number of corporate and private owners.

Gary founded his own consulting business (www.interaviagroup.com) in 2005, providing aviation commercial, operational and technical advisory services, in parallel serving for several years as a Senior Associate at leading regulated global airline industry adviser Nyras Capital LLP. He has also been engaged throughout in private jet acquisitions, turnkey private client aircraft management, related audit and advisory services (www.airfleetops.com). Today, he also acts as a non-executive director, minority shareholder and/or angel investor in several smaller private businesses. He is a member of the International Society of Transport Aircraft Trading (ISTAT).

PERSONAL OVERVIEW

Strong, highly motivated and positive-thinking individual, committed to honesty, integrity and fairness in business, to the highest standards of professionalism and performance, and attention to detail in all tasks. Sensible no-nonsense character, cool in a crisis yet hotly passionate about principles. Enjoys life.

Seasoned and accomplished multi-disciplined hands-on business administrator, project manager, trouble-shooter, negotiator, business development manager and marketeer, having influenced development of key strategies in a number of successful business units. Totally comfortable with profit responsibility and directing all aspects of a modern business, including start-ups and business turnarounds. Experienced in managing strategic growth and its critical effects, both foreseen and unexpected. Creative-minded innovator, with the ability to identify key issues in all business situations and provide credible and appropriate solutions. Self-motivated, entrepreneurial and forward thinking. Able to initiate and develop new business and key client relationships. Astute and skilled negotiator. Customer service oriented.

Comprehensive financial modelling, paralegal, report writing, and verbal/visual presentation skills. University visiting lecturer and industry trainer, financial sector in-person briefing and webinar host, industry conference presentation, moderator and panel member experience.

Enjoys challenges and able to efficiently co-ordinate activities of others. Prepared to take tough decisions and deal with issues objectively and positively. Team player, believing in strong leadership, team work, mutual respect and development. Extensive human resources management experience, having enjoyed direct responsibility for up to 250 persons, including multi-national workforces.

Widely travelled, having personally completed business in over 80 countries across all continents. Resident in UK and Continental Europe, CIS, the Americas, Middle East, Southeast Asia and Africa. Experience of post-conflict environments.

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Able to communicate effectively at all levels with an understanding and tolerance of cultural differences. Good listener. Patient and diplomatic. Calm under pressure. Media-experienced.

Proven credentials in business administration, project and change management in the global arena including emerging markets, and in high value sales and negotiation of contracts at the highest personal, corporate and governmental level. Experience of leading negotiations, structuring and concluding multi-million-dollar transactions with major global financial institutions and suppliers (to US$2.0 billion capital spend and $150 million annual operating spend).

CAREER HISTORY

2005 INTERAVIA CONSULTING, UK & US – Founder & Managing Director Boutique aviation commercial, operational & technical advisory

- Member, JSSI Customer Forum (JSSI request). - Management and coordination of required preservation of large corporate jet aircraft under Court seizure (High Court Enforcement Officer client).

- Review of aircraft lease entity (wide/narrow-body airliner); related financial modelling (equity fund client).

- Paper on Airbus A330 and residual values and future market (equity fund client).

- Operator transfer coordination, three Global/XRS aircraft to new commercial operators.

- Review and audit, and subsequent forensic audit support, AOC business jet operator, contract compliance and customer billing (UHNWI client).

- Airbus ACJ320neo Corporate Jet purchase and outfitting agreements, to final delivery (UHNWI client).

- EASA-NCC long-range business jet operator establishment, manuals and procedures (industry client).

- Review of Boeing 787-9 lease documentation (airline client).

- Expert witness including written report, aircraft value diminution following ground incident (attorney client).

- Corporate jet aircraft refurbishment, repainting and avionics upgrade RFP and oversight (UHNWI client).

- Airbus Corporate Jet and Boeing Business Jet (BBJ) RFP, client analysis (UHNWI client).

- Aircraft seizure and possession, storage, maintenance, asset protection and onward sale (financier client).

- Re-negotiation of new aircraft purchase contracts following OEM programme delay (several clients).

- New aircraft purchase negotiation, specification, interior design liaison and completion (UHNWI client).

- Airline restructuring project (airline client).

- Gulfstream aircraft Court seizure assistance and subsequent re-delivery support (attorney client).

- Corporate aircraft operator management agreement negotiation, crew selection (UHNWI client). 1 - Investigation coordination, European operator, following incident (aircraft owner client)

- Aircraft lease restructuring and aircraft acquisitions (airline client).

- Audit of historical and projected operating costs for long-range private aircraft (UHNWI client).

- New aircraft evaluation, contract, green aircraft delivery and acceptance, completion matters, quality and rectification, registration, trade-in and financing (UHNWI client).

- Review aircraft fleet plans relating to large long-range business jet replacement (UHNWI client).

- - M&A review of major airline fleet of Airbus and Boeing widebody aircraft (airline client).

- Adviser, airline and airfield support, new gas field development in Middle-East (energy sector client).

- Flight department audit (operations, maintenance and budgets), Boeing Business Jet (UHNWI client.)

- Due diligence team (fleet, associated liabilities), European flag carrier (financial sector client).

- Aircraft evaluation and OEM purchase negotiations, new long-range business jet (oil industry client).

- Due diligence team-member, aircraft Maintenance & Repair Organisation (MRO) (financial sector client).

- Sourcing and managing entry into service of long-range corporate aircraft (mining sector client).

- Aircraft cost benchmarking, national carrier restructuring project (financial sector client).

- Adviser, due diligence exercise, US business jet manufacturer (financial sector client).

- Tender drafting, contractor pre-qualification, technical and commercial tender structure, evaluation, benchmarking and modelling ownership maintenance and operating costs, leading structured team negotiations, Boeing 737NG operations (oil industry client).

- Due diligence team-member (fleet, operations, technical, costs), regional airline (financial sector client).

- Due diligence team-member, airport ground handling company (financial sector client).

- Fleet valuation and exit strategy formulation, US Chapter 11 airline (financial sector client).

- Aircraft cost benchmarking and budget validation, European airline IPO (financial sector client).

- Due diligence team-member, global cargo airline (financial sector client).

- Investigation, Middle-East AOC operator, following operational incident (aircraft owner).

- Expert witness, airline aircraft transaction litigation (attorney client).

- Preparation of US FAA FAR 129 Ops Specs applications (commercial operator client).

- Adviser, corporate jet acquisition and turnkey flight department establishment (energy sector client).

- Factory-new aircraft acquisition (oil industry client).

- Desk-top aircraft valuations, most principal airliner and business jet types (various clients).

- Re-marketing of Bombardier, Falcon and Gulfstream corporate jet aircraft (various clients).

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- Industry briefings: airline restructuring, aircraft financing & leasing, aircraft selection technical issues, end- of-life teardown for spares, residual values, operating costs, maintenance costs, OEMs, MROs, airports, business jets, cargo, aircraft engines, aircraft fuels (various banking and private equity sector clients).

2003 AIR 2000 / FIRST CHOICE AIRWAYS, UK - Head of Aircraft Acquisitions & Leasing Major airline then operating some 30,000 flights annually to 50 destinations worldwide (became Thomson and since rebranded as TUI). Managed multiple Airbus A320/321 and /767 aircraft fleet and related engine portfolios (CFM/RR/GE) under ownership and various lease structures. Led all airline's aircraft evaluation and selection projects. Led aircraft and General Electric GENx powerplant negotiation and contract team (as launch customer). Managed all relationships with aircraft and engine manufacturers, financiers, lessors, counsel. Led new aircraft acceptance teams at Boeing Seattle and Airbus Toulouse.

2000 AIR ZODIAC, UK - Senior Project Consultant Aviation advisory and projects firm.

- Engaged by oil company Shell for cost benchmarking, airline contractor pre-qualification, technical tender evaluation and commercial tender scoring. Three-aircraft ATR42 fleet contract operations in Oman desert oil fields, replacing Fokker F27 type. Re-engaged for -700 jet aircraft project 2005/6, and subsequent Boeing 737-800 phase in 2011.

- Liaison with global UHNWI clients on behalf of leading design agency - various private aircraft, larger yachts and bespoke motorcars, leading client negotiations, client concept kick-off and project interface.

1999 AIR HARBOUR TECHNOLOGIES, Switzerland & Cyprus - Director of Aviation Projects Swiss / Saudi-Arabian investment group, controlled by prominent Saudi family. Shareholder representative, various business units (airline, corporate aviation, airport). Development of ‘private cabin’ concept (designs sold to Virgin Atlantic; theme subsequently further developed by Etihad, Lufthansa, Privatair, Singapore, and others). Led negotiations with Airbus and Boeing, together with cabin designers, investor and airline partners.

1996 CARIB AVIATION, Antigua - General Manager (CEO) Dominant Eastern Caribbean regional air operator established in 1972 and led by Caribbean airline and airport pioneer Sir Frank Delisle (founder of the original LIAT in 1957). International scheduled passenger and charter services with 10 aircraft fleet and 40+ flights daily. EASA145 aircraft maintenance organisation covering own and other regional airlines. FBO corporate aircraft handling at Antigua Airport. Monserrat helicopter shuttle. Introduced Twin Otter type and scheduled services, including related interline and clearing house matters, flying in support of oft-troubled LIAT. Restructured and prepared business for sale on behalf of Sir Frank.

1994 EMERALD AIRWAYS, UK - Director Corporate Development & Scheduled Services Regional airline operating then-extensive network of time-critical contract night mail, newspaper, and express courier operations throughout U.K. and Europe utilising 15-aircraft (BAe.748) turboprop fleet. Led structural changes for owners, also introducing scheduled passenger services, interline, reservations systems, etc..

1991 TURKS & CAICOS AIRWAYS, Turks & Caicos Islands – Vice-President / General Manager UK-regulated Caribbean flag-carrying regional airline then operating 40+ scheduled daily flights with 10-aircraft fleet. Substantial airport ground handling subsidiary. Led merger of two constituent operators and handlers, interline and clearing house matters. Introduced Beech 1900C inter-island and scheduled Boeing 737 service to USA. Secured US FAR145 maintenance organisation. Introduced ground handling for American Airlines. Business acquired by InterCaribbean Airways, for whom also prepared business plan and operating manuals.

1986 BERMUDA JET, UK & Bermuda - Founder & Managing Director UK-licensed business jet charter operator (4 jet aircraft – Hawker 125 Fan, Citation I/II), aircraft management and sales (Citation, Lear, Hawker, Falcon, Gulfstream, BAC1-11 VIP, VIP). Business sold.

1984 TAL-AIR (Thurston Aviation), UK - Commercial Manager Leading business jet (Hawker 125), turboprop (KingAir 200, Bandeirante, Shorts 330) and helicopter (MD500, Bell 206L) air charter operator (11 aircraft, established by UK business air charter pioneer Eric Thurston in 1959). Service centre, maintenance organisation and corporate handling / FBO. Created and led commercial department. Maintenance and FBO business sold to Fields (Metro) Aviation. Now Harrods, Stansted.

1983 AMERICAN AIRCRAFT COMPANY, US & UK - Aircraft Sales Manager - Europe Dominant corporate jet sales organisation active in US / European pre-owned business jet markets, focusing on Citation, Lear, Hawker, Gulfstream types. Extensive product training. Business restructured to Houston office.

1980 TRANSAIR / TRANSAIR CARGO (Samtanus Shipping), Germany & East Africa - Operations Manager Cargo (Douglas DC4 freighter) and business aircraft (Beech, Piper, Cessna) fleet operator, based variously in Kenya, Tanzania, Uganda, Zimbabwe. Extensive financial management training. AOC post-holder Uganda, Tanzania.

1978 EUROAIR, UK & Singapore - Analyst (Aircraft Performance & Economics) Seconded to military and civil airline projects in Southeast Asia, Middle-East and Africa, including to:

- 1979: Intercontinental Airlines, , as Assistant to Chairman. Start-up domestic, regional and Europe. Secured term contracts with United States Government (pan-African commissary shipments) and Nigerian Central Bank (inter-State bank note transfers). Operating Douglas DC6 freighter, -320CF freighter, Douglas DC8-50 passenger, and Caravelle passenger.

- 1978: Turbo-Airliner Manufacturing Company, USA, as Sales Support Analyst, DC3 turbine conversion. Engaged in on-site support of team negotiations in Burma (now Myanmar), Central African Republic, Iran, Iraq, Nigeria, , Thailand, and Turkey.

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