ISTAT News | 14 August 2025
A Tribute to Jane O’Callaghan
The aviation community is mourning the loss of 2025 ISTAT Award recipient Jane O’Callaghan, who passed away on 18 July at her home, surrounded by family.
A trailblazer in aviation finance and leasing, O’Callaghan’s career spanned more than three decades and included senior leadership roles at GPA, GECAS, Pembroke Capital, Aircastle, ALAFCO and AMCK Aviation. She was serving on the board of High Ridge Aviation at the time of her passing.
In March, ISTAT honored O’Callaghan with the 2025 ISTAT Award, recognizing her immense contributions to the industry and her role in shaping the future of global aviation finance. In a recent profile in Jetrader, she reflected on her career, her mentors and the evolution of the leasing sector.
Colleagues and peers across the industry remembered O’Callaghan not only for her leadership and accomplishments, but also for her warmth, humility and generosity. Her legacy endures in the professionals she mentored and the many lives she touched throughout her career.
ISTAT extends its deepest condolences to Jane’s family and to all those in the global aviation community who had the privilege of knowing and working with her.
Colm Barrington, Former CEO of Fly Leasing and Chair of Aer Lingus
“Jane was the consummate professional, dedicated to the organizations with which she worked and to providing her clients with the highest standard of professional service. Her industry knowledge was outstanding. But above all, Jane was a dynamic character who, through her warm and vivacious personality and her winning smile, brought happiness to all of us who were lucky enough to know her. May she rest in peace.”
Conor McCarthy, Founder and Executive Chairman of Emerald Airlines
“Jane O’Callaghan was a veritable force of nature and always brought with her a winning smile, a deep curiosity and a desire to do business, wherever she went. As one of the pioneering women in aircraft leasing, Jane never fixated on glass ceilings or closed shops; instead, she simply looked for the ‘gap in the fence’ that she would deftly jump through. By building a wonderful network of relationships, friendships and ‘business done good,’ she built up a strong set of customers and suppliers throughout her various roles in the aircraft leasing industry and made herself a go-to person for aircraft leases.
What was so different about Jane was that once she had successfully navigated those (thankfully historic) barriers for women, she generously helped so many others, of all genders, get started in aviation and to become successful. Jane was warm, smart, fun, generous and courageous right to the end, bearing her illness with dignity, courage and hope. On behalf of the board of Emerald Airlines, I would like to extend our deepest condolences and support to Jane’s lifelong love and soulmate, Mark, and her two boys, Adam and Jeff.”
David Swan, Chief Operations and Sustainability Officer at SMBC Aviation Capital
“I was privileged to know Jane for over 25 years in many capacities: as a fellow industry professional, my wife’s colleague and mentor, and above all, as a great friend to us both. Jane never agonized over “why” or “why not,” she simply acted. She likened herself to a lioness, fiercely defending her deals as if they were her cubs, yet she possessed the rare skill and strength of character to find outcomes that were good for both her customer and her company. Her determination and passion inspired countless others to believe in themselves and achieve their goals. She was one of a kind in our industry but, thanks to her and other trailblazers, there are now many more future Janes among us. May she rest in peace after a life well lived.”
Dómhnal Slattery, Chairman of Vertical Aerospace
“I sat next to Jane at GPA for four years. We were both in our 20s. I learnt more about aircraft leasing by listening to her manage her clients and negotiate terms on deals. Firm but fair. Tenacious. Sense of urgency. Eyes on the prize. We will all miss her terribly.”
Margaret Clandillon, Senior Independent Non-Executive Director
“Jane and I shared much of our professional journey — together at GPA Group, Pembroke Capital and later, High Ridge Aviation. Through it all, Jane was a constant: a brilliant professional, a trusted colleague and, above all, a treasured friend.
Though small in stature, Jane had an extraordinary presence in our industry. Her contributions were both profound and enduring, recognized fittingly with the ISTAT Award and the AWAR Lifetime Achievement Award. These honors meant the world to her — not for the accolades themselves, but for what they represented: decades of dedication, excellence, deep relationships and her steadfast support for the next generation.
Jane didn’t just lead — she opened doors! She championed others, created opportunities and made space at the table for those who followed. For those of us fortunate enough to work alongside her, Jane was far more than a colleague. She was a force of nature, a guiding light and a true friend.”
Mike Inglese, CEO of Aircastle
“Aircastle was incredibly fortunate to have been part of Jane O'Callaghan’s remarkable aviation career. Jane was instrumental in building up our Dublin office into a powerhouse of our operations. The success Aircastle has enjoyed over the past two decades is a testament to the foundation Jane helped to build. So many of the talented people Jane brought on board are still with us, now leading our Dublin team and respected throughout the industry. Jane raised the bar for customer service and deal-making, always guided by her strong principles and her ability to connect with people.
Above all, we believe Jane will be best remembered for her commitment to mentoring. She possessed that special ability to recognize and nurture the potential in others. Aircastle grew stronger because of Jane’s willingness to share her wisdom and help others develop professionally. Jane’s contributions have significantly advanced our industry, and her innovative spirit shaped both Aircastle and the broader sector. We're forever grateful to have been a part of her dynamic journey.”
Nils Hallestrom, Advisor in Aircraft Finance
“I first met Jane in the late 1980s in Las Palmas. At the time, Irish Aerospace was leasing an MD-83 to Líneas Aéreas Canarias, and Jane was the account manager overseeing the transaction. PK AirFinance was the lender. We found ourselves across the table from LAC’s CEO, Antonio Armas Fernández, negotiating the lease terms. Antonio embodied the classic Mediterranean macho archetype: confident, commanding and formidable. Jane, by contrast, was petite, gracious and soft spoken. Yet it was her competence, consistency and quiet conviction that steered us through the negotiation. She left an enduring impression on both Antonio and me.
That deal marked the beginning of a three-decade journey in which I had the privilege of watching Jane thrive across various commercial roles within multiple leasing companies. Most recently, she enriched the industry by sharing her deep expertise as a lecturer in the ISTAT Professional Development Program, focusing on operating leasing.
Jane didn’t just succeed in our industry — she redefined the way many of us understood what leadership, intelligence and grace could look like in aviation finance. Her 2025 ISTAT Award recognized not only her extraordinary professional achievements but also her broader impact — as a role model and trailblazer for the many women who have followed in her footsteps. Jane proved that success in aircraft trading and financing isn’t reserved for the ‘toy boys’ — it belongs to those with substance, insight and resolve.
Like everyone lucky enough to have worked with or learned from Jane, I will miss her deeply. Her legacy will live on — not only in the deals she shaped, but in the lives and careers she quietly transformed.”
Patrick Halluin, Vice President of Fleet Transactions at Air France
“I had known Jane for nearly 25 years. Our paths have crossed many times since. Along with the various positions she held in the leasing community, we have achieved many business opportunities together ever since. She was a very professional executive in the aircraft trading business, but well above that, she was such a nice person. I will miss having fun and long talks with her in the future! Sincere condolences to her family.”
Sarah Clarkin, Chief Legal Officer at Aircastle
“I knew Jane for a long time. My father (Joe Clarkin) was with GPA when she turned up, fresh out of college, to work on the trading floor — the first female leasing executive in the industry. Dad came home to tell his own four daughters about the ballet-dancing engineer who had come to work with them in Shannon. So, even before I got to know her, I knew of her and admired her. That was nearly 40 years ago in what really was the Wild West of leasing. And not only did Jane survive those days, but she thrived.
I came to work with Jane at Aircastle, whose Dublin platform she founded. We were a small team in the early days, and we worked together closely. She was an early proponent of inclusivity and enlisted the support of her deal team from the very inception of a transaction. It was always Jane’s deal, but everyone was a stakeholder and a contributor. I learned a huge amount from her and am very grateful for the generosity she showed me in my early career. And for the fun we had. And the discipline. Apart from the hard work, she literally kept us on our toes. We were the only leasing company with a well-used ballet barre in the break room.
Jane contributed so much to the leasing business over the course of her career. She introduced many airlines to the very idea of leasing and helped foster their confidence in the industry in the early years. There is so much to say about Jane and her place in the industry that she loved and in which she worked from its infancy. But a lot of that has been said already and Jane was lucky enough to hear just how highly she was regarded by her peers and colleagues when she received the ISTAT Award in 2025. It was truly a testament to a lifetime of achievements, her own and those of the professionals she fostered and mentored along the way. Her successes were down to her hard work and team spirit and never at the expense of honesty and integrity. Jane was unflinchingly honest and fair.
For those of us who worked with her, Jane was just fabulous. She was a mentor, a friend, a partner-in-crime, a thorn-in-one’s side. She could aggravate and inspire simultaneously. To me she will always be the ballet-dancing engineer who came to work in GPA, Shannon. A woman with extreme poise and a steely determination and resolve. As we say in Ireland, ní bheidh a leithéid ann arís.”