The Professional Aircraft Appraisal Organization LLC (PAAO) is a relatively new aircraft appraisal organization but its roots and foundations go back much further. In many ways, the PAAO is a continuation of the National Aircraft Appraisers Association (NAAA) which ceased operations at the end of 2018. While the NAAA had existed for over 30 years and helped many clients in their aircraft valuation needs, that organization was limited in several respects and in order to evolve, a new organization had to be established.
That evolution of the NAAA resulted in the formation of the PAAO and the initial Associates of the PAAO were all former members of the NAAA. In other words, the initial foundation of the PAAO was based on qualified, trained, experienced professionals in the aircraft appraisal industry who were capable and ready on day 1 to begin offering their services to the general public because they had been doing so for many years.
Many positive attributes about the NAAA remained and were transitioned over to the PAAO such as the continued requirement to perform field visits in order to physically look at the aircraft along with its log books as part of the effort to determine an opinion of value. The consistent application of this attribute was one of the key differentiators in the aircraft appraisal industry and these field visits contributed to the credibility and reliability of the reporting. For those clients who are interested in credible, reliable reporting along with the related results, no other process comes close.
Training Associates is another key attribute for any professional organization such as the PAAO and here we offer Associates hands-on training so that field visits can be conducted properly and professionally. In other words, just showing up at the airport, snapping a few photos and thumbing through a few log books is not a proper field visit. It is also important to understand how to analyze the market and develop a credible, reliable opinion of value that can be defended. The focus of our training involves multiple data sources across the marketplace versus just one publication or one source.
There is also a board review of ALL those who apply to the PAAO. All applicants undergo a criminal background check and the board reviews their credentials to ensure our clients that our Associates are of the highest integrity and caliber.
A certified professional aircraft appraisal continues to be a crucial tool for buyers, sellers, lenders, and the Internal Revenue Service (IRS) however not all certifying agencies for aircraft appraisers are the same nor do they apply identical standards for entry into their organization or training. Aircraft appraisals are vital to the aviation community to foster change of ownership and obtain financing. The demand for certified professional aircraft appraisals is strong and will continue for the foreseeable future.
To meet this continued need, the PAAO was organized and established by professional aircraft appraisers in an effort to raise expertise and provide competence to promote public trust in our Associates. Our board members are aviation professionals from a broad-spectrum of experience and knowledge in the aviation industry.
Management Information: Managing Director - Mike Simmons, CFO - Delvin (Del) Fogg, CIO - Tracy Ligon,
Training/Education - Pat Duggins