Airline Economics has chosen its 40 under 40 for 2024 and High Ridge Aviation’s Greg Fox is among the current class.

From Airline Economics:

Since 2016, Airline Economics has chosen to recognise the wealth of young talent in the aviation finance and leasing community with the annual Airline Economics 40 under 40. The Airline Economics 40 under 40 Class of 2024 has been compiled from another record amount of nominations and endorsements, man)’ from senior members of the wide aviation community. All 40 members of the final list received 1,624 endorsements in total, with the majority of those from clients.”

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Although the 40 under 40 group is not ranked, Airline Economics does designate several individuals that have also been highlighted for recognition with endorsements from clients and industry­ peers noting their specific talents and contributions to the industry. The Highly Commended designation has been awarded to six individuals, among them High Ridge Aviation’s Greg Fox, SVP Commercial Finance.

Greg Fox
SVP Commercial Finance, High Ridge Aviation
Highly Commended

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Greg Fox is a highly praised figure within the aviation finance industry; currently serving as the senior vice president of commercial finance at High Ridge Aviation (HRA). With a career spanning over 13 years, Greg’s devotion to aviation began from his very first role in 2011.

“I was hooked from my first days at GECAS,” he shares. “The strength of the GECAS team – some of whom I still work alongside today at High Ridge Aviation – and the complexity of each individual transaction drew me in.”

After graduating from Boston College, Greg began his career at General Electric as a part of the financial management program and he then joined GE Capital Aviation Services (GECAS) as a part of its marketing finance team. He was steadily promoted and ended his career there as vice president of valuations and portfolio management where he headed the engines valuation team.

After GECAS was acquired by AerCap, Greg was one of the few employees to be selected to stay on at the company. After a brief tenure at AerCap, Greg was recruited to become an investment banker at Credit Suisse where he covered aircraft leasing and asset management clients and specialised in capital markets and lending transactions.

Greg joined the team at High Ridge Aviation within months of its launch in 2022 where he quickly established himself as a key member of the team. Working at a start-up, Greg has had to wear many hats to help launch the business, including pricing, valuations and investor relations. He made his mark quickly with the launch of a $500 million warehouse credit facility less than six months after he joined, which was subsequently upsized to over $1bn. Greg successfully managed the deployment of capital, utilising the new debt warehouse facility to optimise leverage on assets and returns for investors. In addition to sourcing debt for HRA, Greg has developed new adapted models of bespoke portfolios of assets for specific investors while partnering with the company’s sponsor PIMCO to best position HRA in the debt and equity markets.

At HRA. Greg develops and executes the company’s capital allocation strategy while ensuring profitable growth. Greg also serves as a focal point for HRA’s management with PIMCO and other third parties, demonstrating his leadership in fostering critical partnerships. Greg highly values his time at High Ridge, noting it as a highlight in his career so far. “Working alongside our lenders, our partners at PIMCO and my colleagues at HRA to originate, upsize and manage our inaugural debt facility over the last 12 months has been the most fun and complex project of my career, which was a testament to not only our founding partners’ extraordinary track record in the industry, but also our lenders’ deep commitment to our success,” he says.

Colleagues praise Greg for his “keen analytical mind” that is frequently employed to work to solve complicated problems where he always exceeds expectations. Greg is also recognised for his role in developing a mentoring relationship with the junior team members in the finance organisation, sharing his knowledge and expertise to help others develop in the aviation space.

Clients recognise Greg’s acute ability to anticipate problems before they arise thanks to his substantial industry experience, as well as his determination to lead from the front whilst ensuring a positive working environment that elevates his other team members.

Commenting on the present state of the industry, Greg believes that the current supply and demand dynamics are likely to continue to be a challenge throughout the rest of the decade. “Customers’ desire to fly has not been muted by the pandemic, nor has the fundamental relationship of GDP and RPK growth been broken, so demand should continue to climb over the longer term.” he explains. “At the other end of the spectrum, it seems as if very few products arc without constraints somewhere in the supply chain, with even fewer quick fixes in sight.”

Despite these challenges, Greg maintains that there are still “ample opportunities in the leasing and debt markets” and is confident that the experience in the company and its creativity and pragmatism is serving it well to weather this and multiple future cycles.

Given the aviation industry’s resilience over past five years, Greg sees this as proof of its continued longevity. “The industry has faced three unique and unprecedented shocks since 2019 and withstood each of them in quick succession,” he says. “This resiliency, along with the quality of our people, gives me a lot of hope for the future.”