10 December 2020: Michael Coviello with a 42 year industry experience is appointed as the Vice President of Transaction Management at Contrail Taps. In this role, Coviello will manage and optimize all aspects of the deal flow transaction process, from contracts to third parties liaising to technical, in an effort to support the origination team and further drive transaction volume.
Commenting on this appointment Contrail’s Sebastian Lourier, EVP – Commercial & Portfolio Management said, “Mike is a seasoned veteran who has domain expertise in all facets of commercial aviation transaction management, especially related to aircraft trading and leasing of mid-life and end-of-life aircraft. Mike joins us as a known quantity with over four decades of industry experience across countless transactions. He is an incredible source of knowledge, is well-networked and will be a powerful resource for the company. We’re thrilled to have him on board, and we look forward to his positive impact on Contrail’s trading and leasing platform, as his foundational and operational contributions will enable us to further accelerate our ability to execute on transactions.”
Throughout Coviello’s distinguished career spanning four decades, he has held notable leadership positions at Aviation Capital Group (ACG), GMT Global Republic Aviation, Mountain Capital Partners, AirCapital Aviation Services, Back Aviation, Republic Financial Corporation and Tombo Aviation (a Mitsui Company). Most recently, he served as Vice President Aircraft Trading of ACG in Newport Beach, CA, and prior to that served as ACG’s Vice President Portfolio Management.
On taking the new role, Coviello commented, “Contrail has built a solid reputation for success and I am fortunate to have shared a long-standing professional relationship with several members of the team. In this role I’ll be able to hit the ground running and work immediately within a team and group of people with whom I share a strong sense of camaraderie and where I can offer my knowledge and expertise to help make the company stronger.”
Coviello brings extensive knowledge and experience in all aspects of transactions, including aircraft and engine leasing structures, asset optimization strategy and execution, remarketing and sale transactions, valuation, lease and purchase contracts, maintenance costing and planning, purchasing, regulatory requirements, equipment specification and aircraft operations.
“Contrail is uniquely positioned today to grow strategically within the marketplace. With its combination of strong capital, deep asset expertise and with the support of AIRT, they have a prime opportunity to make substantial strides within the industry and take advantage of a distressed market. “This is an exciting time for Contrail, and I am honored to help drive that growth as part of its leadership team,” he further added
Contrail Aviation Support, LLC, is a worldwide supplier of surplus and aftermarket commercial jet engine components as well as asset leasing and acquisitions. It is a key business unit and revenue driver of the Air T holding company which provides Contrail with strong capital resources and support.
