Gerald Sherman, Managing Director and Head of Aviation-USA and the Americas

Mr. Sherman is a principal and founding member of First Greenwich Kahala Ltd. He was also
founder of First Greenwich Capital LLC and was previously co-founder, in 1992, of Aviation
Investors International, Inc. ("AII"). At AII Mr. Sherman was engaged in the financing, leasing
and trading of commercial aircraft to airlines located around the globe. His responsibilities
included arranging for senior financing, sourcing equity capital, negotiating aircraft purchase
agreements and leases. Prior to AII Mr. Sherman served as Vice President for aircraft finance
syndications at the Concord Leasing subsidiary of HSBC. His career in structured finance and
leasing began in 1979 at Citicorp in New York. In Mr. Sherman's long working experience he has
been involved in many billion dollars worth of equipment financings and has worked with all
major commercial aircraft equipment types.

Bradley E. Smith, Managing Director and Head of Aviation-Asia

Mr. Smith is a principal and founding member of First Greenwich Kahala Ltd. Prior to FGK, in
2000 he established Kahala Capital Partners Ltd., an independent investment bank with
offices in Tokyo and Honolulu. Before Kahala Capital, Mr. Smith worked for 20 years on Wall
Street, primarily with two firms: Bankers Trust and Bear Stearns. At Bear Stearns he was a
Senior Managing Director in the Tokyo office having previously joined the firm in New York in
1995. Prior to Bear Stearns he worked 10 years at Bankers Trust- first in the airlines and
aerospace group, and later in BT's loan syndications group as a syndicate manager for some
of the largest leveraged airline financings ever completed, including the recapitalization of
UAL and the buy-out of Northwest Airlines. In addition to long standing business ties with
Wall Street and Asian institutions, Mr. Smith has more recently developed relationships with
many Asian airlines.

Mike Garland, Managing Director and Head of Aviation-Europe, Middle East and Africa

Mr. Garland is a principal and founding member of First Greenwich Kahala Ltd. Previously he
spent 15 years in various banking institutions including National Westminster, Security Pacific,
BAII and West Pac in Hong Kong. In 1990 he joined Electra Aviation Limited as a Director in
charge of a 65 aircraft portfolio. Immediately on joining the company Mr. Garland started
a "company rescue" package working with the company's creditors to wind down the company
and liquidate its assets. In 1995 he established Garland Aviation Limited which provided
consultancy advice to leasing companies and airlines. Specialties of Garland Aviation
included aircraft dry leasing, wet leasing, aircraft management and remarketing, repossession
and airline advisory. Clients who have used Garland Aviation include, Sunrock (Nissho Iwai),
Tombo Aviation (Mitsui), Aviation Capital Group, Aviation Investors International, Futura
International Airways, IAF Group, Goldcrest Aviation, Excel Airways, Monarch Airways,
Ghana Airways, Cronus, Air Zimbabwe and Air Europa. Mr. Garland is considered one
of the leading aircraft leasing specialists in Europe, combining extensive relationships with
many airlines with sound technical knowledge of aircraft and engine performance characteristics
and values.

Mark J. Thatcher, Head of Technical Services and Vice President Marketing

Mark J. Thatcher is the head of technical services and vice president marketing for First
Greenwich Kahala, Ltd. Mr. Thatcher has over twenty three years experience within the
operating segment of the airline industry- with half this at the senior management or board
level. Prior to FGK he established Trinity Aero Limited, a successful aviation technical
and consultancy business. Before Trinity Mr. Thatcher was employed for eleven years at Air
2000, the then fourth largest airline in the UK, where he oversaw a mixed fleet of 33 Boeing
and Airbus aircraft. In his final position at Air 2000 he was a director with responsibility for all of
the airline's maintenance, purchasing and leasing activities. Mr. Thatcher began his career at
the age of 16 in British Airways' world renowned engineering apprenticeship program.
Subsequently, he was employed at British Aerospace where he supported that company's
activities in Thailand and China. Mr. Thatcher has a unique blend of a mechanic's
intimate knowledge of aircraft and engines coupled with the asset trading savvy of a senior
airline executive with substantial experience trading and leasing equipment.

Russell Christopher, Vice President of Marketing

Russell Christopher is vice president marketing for First Greenwich Kahala, Ltd. Prior to
joining FGK Mr. Christopher was a Director of Republic Financial Corporation,
responsible for sourcing aircraft acquisition opportunities and placement of assets for
sale and lease. Before joining Republic he held positions with Focus Aviation Ltd, a
leading aircraft remarketing company, and the International Bureau of Aviation. Since
1994 Mr. Christopher has been involved in the sale or leasing of over $750 million of
aircraft with a variety of operators or lessors including Continental, Copa, ABN AMRO
HSBC, Union Bank of California, Varig, Air Namibia, China Airlines, Air Batavia,
Alaska/Horizon, South African Airways and UPS.

Sara Granado, Head of Administration and Lease Management

Sara Granado is Head of Administration and Lease Management for First Greenwich
Kahala, Ltd. Ms. Granado has over ten years experience within the operating segment of
the airline industry. Prior to FGK she was employed at Air Europa, one of the major
airlines in Spain, where she was the Aircraft Fleet Manager with responsibility for the
leasing activity of the fleet totalling more than 35 aircraft. At Air Europa in addition to being
involved in the leasing of aircraft she was also responsible for the purchasing of over 30
B737-800s aircraft with Boeing related sale/leasebacks. Ms. Granado was also in
charge of managing all maintenance reserves at the airline. Additionally, she took care
of the extensive relationships with many aircraft and engine lessors in the market such as
GECAS, ILFC, Aviation Capital, Sumitomo, Mitsui/Tombo, Alafco, Pegasus, ILFC, SES,
RBS Aerospace, Air Castle, CIT, BBAM, and many others.

Joe Hale, Senior Advisor

Joe Hale is a senior advisor to First Greenwich Kahala, Ltd. Mr. Hale is a highly
respected professional in the Asia-Pacific aviation industry having worked in the airline industry
for a total of 47 years. He began his distinguished career in Pan Am where he held a variety
of positions including Director-International Affairs during which time he was responsible for
the development of bi-lateral aviation agreements in the Pacific and Latin America and
coordinating policy with US governmental agencies. In his last position for Pan Am Mr. Hale
was stationed in Tokyo and responsible for all of Pan Am's Asian operations. During that time
he guided the expanding development of the airline's entrance into points beyond Tokyo
including the China market. Subsequent to Pan Am Mr. Hale managed Delta's Japan business
and later served as Senior Vice President-Marketing for Aloha Airlines. In addition to a
successful business career Mr. Hale also served on the Board of Governors of the
American Chamber of Commerce in Japan and as a member of the Japan-Hawaii
Economic Council.


Pete Torralbas, Senior Advisor

Mr. Torralbas is a Senior Advisor to FGK with Latin America as his specific area of expertise.
Mr. Torralbas has a long and distinguished career in aviation having worked at Pan Am,
United and more recently with Rolls Royce. At Pan Am and United he was Senior
Maintenance Manager at several key locations and director of airports at Narita and
Heathrow, and country Director-Korea. In his most recent position he was Vice
President and instrumental in strengthening Rolls Royce’s relationships in Latin America
and resulting increase in market share.

 

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