It all started with a one-line job ad at Indiana State University’s Career Center that jumped out to upcoming Aerospace Administration graduate Bryan Byers— Branch Analyst, and the phone number to Cessna Aircraft Company. Byers, now a tenured Aircraft Lender and Vice President at Scope Aircraft Finance and NAFA Vice President, had found the diamond in the rough he’d been searching for.
When he called the number, the human resource agent at Cessna said he was the first person who had applied for the job. Byers was shocked. That one small break brought Byers to the launch pad for his career in aviation finance.
The launch of a career in aviation financing
Byers came on board in the aviation industry at the right time. The General Aviation Revitalization Act of 1994, which jumpstarted manufacturing of small aircraft after a period of extended liability restrictions against manufacturers, started to open new positions for Byers. After answering the one-line ad, Cessna hired him to learn the basics of aircraft financing. While there, Cessna transferred Byers to Wichita, where he was immersed in the aviation industry that surrounded him, growing in his knowledge of the aviation industry.
Unfortunately, the role Cessna placed him in focused on banking, which steered Byers away from aviation. Byers was persistent, taking every opportunity to ask for a position in aviation. Finally, Cessna offered him the Regional Service Manager role, which first seemed more of a mechanical and maintenance position. But after looking at the job closer, the role entailed following up with customers behind on their payments to the bank-AKA a repossession agent, or “Repo Man.”
Byers’ unconventional role as the ‘Repo Man’
Byers worked for two years as a repossession agent for small aircraft, working personally with the customers the bank represented. This experience gave Byers plenty of colorful stories and close calls, including when the electrical went out in the plane he was flying during the busiest time at Louisville International Airport without direction on when and where to land.
It was sometimes a dangerous job that came with unexpected twists and turns. One time, Byers went to take a plane, expecting not too much hassle since he constantly communicated with the owner about his late payments. Byers found the airplane, inspected it, and got it ready to fly home. “I’m checking everything out with the plane when I hear these size 17 shoes coming up quickly behind me. A big man is coming right up to me with his fist ready to punch me as I turn around. I see him ready to grab ahold of me and immediately go into defense mode—"Wait, Wait, Wait, Wait, Wait!”
Thankfully, after picturing waking up in a hospital after “lights out,” Byers expertly and nervously talked the owner into calming down and giving up the plane.
Overcoming ‘no’ and finding a home in aviation finance
After some time, Byers’ family was ready to leave Wichita and return to family in Indiana, so he began the search for work back home. He reached out to 1st Source Bank but was met with a solid no to any opportunities. But Byers doesn’t take no for an answer, especially after learning that “No” in lending is the norm, and a skilled professional will know how to work around it. So, Byers contacted that person’s boss and was offered a position. “Have him make you coffee,” the manager said. “I don't care what you do with him, but how many qualified aviation people do you know that also want to live in Indiana?”
After some time, 1st Source gave Byers a try at aircraft financing and sales. He had to call on everybody who owned an airplane in Indiana and Michigan to see how many people he could get to refinance their planes with the bank. Byers worked at 1st Source for almost 19 years before being recruited to work for Scope Aircraft Finance, where he has worked for four years. Throughout his career in aircraft finance, Byers has made his mark by constantly looking for the next person to buy or sell an airplane to and offering personable and excellent service throughout the life of the lending relationship.
According to Byers, everyone starting in aircraft financing will have challenges when they start. His advice for newcomers is to get comfortable with hearing no. “No is not necessarily a bad answer because it's just the law of averages that eventually you're going to get a yes from somebody,” Byers said.
NAFA’s role: Byers’ second home in aviation finance
Through the highs and lows, Byers found a second home in aviation finance with the National Aircraft Finance Association (NAFA). The connections made, the camaraderie with competitors, and the invaluable mentorship within the NAFA community have been pivotal to his success.
As an aircraft lender, Byers began attending NAFA events over 20 years ago. Because the aviation industry is small and connected, NAFA was a big help to him when he first got started. According to Byers, the NAFA connections he has made have helped him tremendously throughout his career, from the people he has met to learning more about his role and how to do his job better.
“It’s odd that you end up becoming friends (or Frenemies) with your competitors,” Byers said. “You can share stories and understand that everyone has the same goal of advancing the industry and doing a better job.”
Byers met one of his strongest supporters while attending NAFA. Charlie Sauter worked for a competitor, Scope Aircraft Finance. While they were competitors, Charlie saw they were like-minded in their love of aviation, values and work ethic. Byers found a valuable mentorship relationship, and Sauter helped guide Byers, eventually recruiting him to join Scope Aircraft Finance.
Byers emphasized the significance of holding onto mentors who provide insights into the trade, guiding newcomers through the intricate world of aviation finance. Especially in the first years in the aviation finance industry, the mentors available within the NAFA member community are invaluable. “Many people in this industry have high levels of knowledge and experience,” Byers said. “If you can hold on to mentors to give you those little tips and tricks of the trade, you can find the right path for yourself, and I find that invaluable.”
Byers continues to go to NAFA events and become involved in areas such as the Light Aircraft Roundtable and in his role as Vice President. “I've met some of the most fascinating people that I never would have met any other way,” Byers said.
Beyond job titles
As Bryan Byers reflects on his journey from that one-line job ad at Indiana State University to becoming a tenured Aircraft Lender and Vice President at Scope Aircraft Finance and NAFA, the warmth for the aviation finance industry runs deep. “I still fly and look up every time something goes over my head to see what it is,” Byers said. “I just love the line of work we're in and can't imagine what I would have done without it.” Byers' path illustrates that a career isn’t just a series of job titles but a collection of experiences, challenges met head-on, and relationships built along the way.
This article was published by NAFA on March 4, 2024.