Nils HallerstromAdvisor in the field of Aircraft Financing Former President of PK AirFinance

Nils Hallerstrom

Advisor in the field of Aircraft Financing Former President of PK AirFinance

20 July, 1953


/Nils Hallerstrom

I spent 35 years with PK AirFinance, the last 27 years as its president. I retired from PK in 2018. Prior to PK, I worked for SAAB on the SAAB 340 regional aircraft project and for the Ministry of Industry in Sweden. My educational background is an MSc in Aeronautical Engineering from the Royal Institute of Technology in Stockholm and an MSc in Accounting and Finance from the London School of Economics. See full bio bellow


/My entire career

1972 - 1977

Second Lieutenant

Royal Swedish Air Force

Nils completed military service during summer months from 1972-1977 in the Royal Swedish Air Force and was honourably discharged as second lieutenant.

Theoretical Mechanics

Royal Institute of Technology in Stockholm

Nils taught Theoretical Mechanics at the Royal Institute of Technology in Stockholm on a part-time basis. In 1976, he completed a 3 months internship at SAAB-SCANIA where he wrote his senior thesis on “Stability and Control of Naturally Unstable Aircraft”.

1974 - 1976
1976 - 1977

Swedish Standards Board

He worked for the Swedish Standards Board connected to ISO.

Swedish Ministry for Industry

Head of Section

He was Head of Section at the Swedish Ministry for Industry and worked on aerospace matters.

1979 - 1981
1981 - 1984


He joined SAAB AB in 1981 responsible for financial control of the SAAB 340 regional aircraft joint-venture with Fairchild.

PK AirFinance


In 1984, Nils moved to PK Finans in Luxembourg, (Crédit Lyonnais/PK AirFinance 1988-2000). He started PK's New York Branch in 1990 and became president of PK in 1991. In 2000, the company was acquired by General Electric Capital Corporation and changed name to PK AirFinance. PK has financed over 2,500 jet aircraft for airlines, traders and operating lessors. It has offices in Luxembourg, Norwalk, Toulouse, and Tokyo. During his tenure, the portfolio grew from $1bn to $8bn. He retired from PK in 2018 after 34 years, of which 27 years as president.

1984 - 2018
Since 1993

Monte Carlo simulation software (MidaX)


Since 1993, he has, in co-operation with a vendor in Sweden, Xice AB, developed Monte Carlo simulation software (MidaX) that is used across PK for pricing, structuring and underwriting new loans and leases, managing portfolios, valuing loans and lease encumbered aircraft, and data mining and analytics. Licences for this digital tool were sold to Boeing Capital Corporation and Nomura Babcock, Brown among others.

Novus Aviation Capital / Rockton Aviation AB

Non-executive director

Nils joined Novus Aviation Capital and Rockton Aviation AB as non-executive director. He is also Program Director for the Professional Development Program of the International Society for Transport Aircraft Traders (ISTAT), lectures at the University College of Dublin in the Master of Aircraft Financing program, and does advisory work pertaining to financial modelling.

1972 - 76

MSc in Aeronautical Engineering

Royal Institute of Technology in Stockholm

Nils holds a MSc in Aeronautical Engineering from the Royal Institute of Technology in Stockholm

Sciences Commerciales

University of Geneva

He studied Sciences Commerciales at the University of Geneva

1977 - 78
1978 - 79

MSc in Accounting & Finance

London School of Economics

Nils holds an MSc in Accounting & Finance from the London School of Economics.



/Our Journal

Aug 2022

UCD Hallerstrom QuantMeth

ISTAT Learning Lab

Aviation Pathology & Treatment
Diagnosis of a Vicious Cycle

Jul 2020
Jun 2020



Jetrader spoke to Nils Hallerstrom, ISTAT PDP program director and member
of the boards of Novus Aviation Capital and Rockton about his career,
changes he’s seen over the years, COVID-19 and more.


Modelling Aircraft Loan Lease Portfolios

Nils Hallerstrom
Discussion Notes
January 2020
In these notes, I discuss how aircraft loan, lease, and portfolio Net Present Value can be analyzed as probability distributions rather than static numbers, accounting for default, aircraft value, and interest rate risks, thereby calculating risk and return measures to structure and price transaction. The notes address the analytical framework for measuring effects of diversification and cross-collateralization, as well as subordination. Other risk factors such as market cycle, prepayment, operational, currency and jurisdictional risks are also discussed.


Oct 2017


/Get in touch with me