HI Uplift: Peter Jiang to lead GDHF as CEO Michael York quits

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by Mike Stones

30 October 2026

Michael York, former CEO at GDHF, is moving on to new challenges.

One unexpected C-suite executive departure is surprising. Two exits in the same week creates industry-wide notice. That’s the position lessor GDHF found itself in this week after the departure of its charasmatic CEO Michael York and its chief financial officer Ray Cleary. GDHF owner Peter Jiang has moved quickly to fill the gaps, Helicopter Investor can reveal.

Jiang – the Chinese rotary entrepreneur, owner and chairman of GDAT Group – is stepping in as chairman to lead the GDHF leasing business directly. Responsibility for day-to-day management – including managing the GDHF team – has been given to Joe Kearton. Earlier this month, Kearton was appointed CEO of Jiang’s new international business GDAT Global.

The reasons for the departure of both C-suite executives remain unclear. But it does offer a useful perspective on change within the civil helicopter industry. We first spoke to York in April 2024 – three days into his new role of CEO leading the Dublin-based lessor.

70-helicopter order book

GDHF launched with a 70-helicopter order book comprising 50 H160s and 20 H175s. Target markets would be offshore energy generation, search and rescue (SAR), emergency medical services (EMS) and parapublic markets worldwide, York told us.

Key points of differentiation for the new lessor would be the availability of latest technology aircraft, capital and customer-focused service, said York during our first interview. “We have 50 H160s on order with near-term availability – starting with three models this year [2024],” he added. (The day before that first conversation added to the order book yesterday were 20 H175 helicopters, comprising 10 firm orders and 10 options).

But York’s market pitch extended beyond bringing hardware and money to the market. “It’s not just turning up with product – we are bringing our expertise and an agile entrepreneurial mindset,” he told us. “We are nimble and capable of being very flexible and providing solutions.” he said.

“Yes, we have the aircraft and we have the money. Also, we will quickly build a reputation as being nice people to do business with. It’s a big differentiator – we want to be very flexible and customer centric.”

During that conversation York identified his 10-year objective as achieving assets under management valued at €1bn ($1.07bn), based on a portfolio of H160s, H175, AW139s and AW189s.

Trademark optimism

Fast forward to June this year and York’s presentation at our Helicopter Investor London conference. Displaying his trademark optimism, York welcomed steady growth in maturing markets. This was attracting greater financial interest and more players from top-tier banks, alternate financiers and new private equity providers entering the market, he said. Healthy market signs were said to be consolidation, mergers and acquisition, portfolio sales and a liquid secondary market of on-lease assets.

Ironically, a proposed acquistion that did not go ahead was GDHF’s proposed takeover of operator NHV Group. The lessor ditched plans to buy the rotary operator, maintenance and training business after the Belgian government blocked the proposed deal.

One key factor underpinning York’s optimism was, he said, the accelerating trend towards fleet modernisation as older platforms reach the end of their primary working lives. “There is an enormous fleet out there that needs replacing over time. And the beauty of technology is that while the introduction is often incremental and slow, every generation [of new equipment] is safer, more efficient, more capable. But it’s not gradual. Fleet replacement is not exactly linear and mechanical – it’s lumpy.”

Two and a half years after our first conversation, York revealed his departure on the social network platform LinkedIn. Serving as the founding CEO of GDHF had been an honour, he wrote. “I am proud of all the amazing things we achieved together at GDHF in the last 2.5 years, including forming a world class team, purchasing 28 helicopters, building a large lease portfolio, raising about €300m of debt facilities and pioneering multiple new markets globally.”

Leading the start-up lessor’s rapid growth has been an exciting chapter, he said. But, added: “It is now time for me to move forward, so I have made the decision to depart GDHF.”

‘A team sport’

York closed his valedictory post with: thanks. “A huge thanks to all the warm help, support and friendship from the GDHF team, customers, service providers, banks, OEM’s and industry colleagues (too many to thank individually). Life and business is truly a team sport,” he wrote. “Wishing the wonderful people at GDHF all the best in their future.”

While the reason for York’s exit remains unclear, it appears to be on amicable terms with his old boss. Jiang added a note to York’s LinkedIn post: “Thank you Michael, you did a great job! Wish you all the best in next.”

Praise for York’s leadership

Other industry voices have added their praise for York’s leadership as founding CEO of the lessor. Kuldeep Yadav, directeur commercial, Global Accounts, Airbus Helicopters wrote on LinkedIn: “Thank you Michael for your leadership at GDHF and opportunity to work (& learn) on fantastic projects there, see you again.”

Steve Robertson, MD, Air & Sea Analytics added: “Best wishes Michael and congratulations on everything you achieved at GDHF – hugely impressive.”

Olivier Piot, CEO, Nova Capital posted: “All the best Michael York for the future and congrats for your impressive achievements with the GDHF team.”

Tejdeep Singh Khokhar, business development director, Aerostructures at Rockwell Collins commented:“All the best Michael York. Was always a pleasure meeting and working on exciting opportunities and projects with you.”

Drawing together aviation and finance, David Conboy, helicopter instructor, flight test and demonstration pilot noted: “Congratulations at breaking the code of how to afford these things. I’m still working our first $8M investment, almost 20 years later.”

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