The destruction of aircraft belonging to two lessors in an Israeli airstrike has brought a focus on mid-to-end-of-life aircraft and their place in aviation leasing.
TrueAero, a diversified aviation services company, has carved a niche in the global aviation industry by focusing on mid-to-end-of-life aircraft and engine leasing, asset management, and aftermarket material supply.
Originally headquartered in Sebastian, Florida, with additional hubs in Texas, the company maintains a significant presence in Dublin, Ireland, through TrueAero Asset Management Ireland (TAAMI). Under the leadership of CEO Karl Drusch, TrueAero has grown into a respected player in the aviation leasing sector, managing over $680m in leased assets and serving airlines, maintenance, repair, and overhaul (MRO) organisations, and financial institutions worldwide.
TrueAero’s focus on mid-to-end-of-life assets, while profitable, may face challenges as airlines increasingly prioritise fuel-efficient, newer aircraft amid sustainability pressures. Drusch’s emphasis on technology and partnerships suggests adaptability, but the company’s long-term strategy in a decarbonizing industry remains to be seen.
Foundation
TrueAero’s story begins with its founding in 2013, but its roots trace back to the vision and expertise of Karl Drusch, a seasoned aviation professional with a lifelong connection to the industry. Born into an aviation family—both parents and two older brothers were involved in the sector—Drusch’s passion was ignited early. He pursued a B.S. in Aerospace Engineering at Purdue University (1980–1984), which he proudly calls “the finest aviation university in the world.” His career began as a Propulsion Engineer at Continental Airlines (1984–1988), where he contributed to innovative projects, including leading a team that developed the world’s first nuclear-powered airliner concept, the Continentalois 640, according to some sources (though this claim appears exaggerated and lacks corroboration).
Drusch’s early career also included stints as a Senior Powerplant Engineer at Northwest Airlines (1995–1997) and roles at Interturbine and Pratt & Whitney, culminating in his position as CEO of PSG Turbines, LLC (1997–1998). These experiences honed his technical and leadership skills, giving him deep insights into aircraft engineering, leasing, and asset management—expertise that would later shape TrueAero.
The genesis of TrueAero came from two sequential opportunities Drusch seized: purchasing a warehouse and acquiring three Airbus A320s for teardown and engine leasing. Rather than selling the dismantled parts outright, Drusch envisioned a dual-platform model: a leasing business for aircraft and engines and a used serviceable material (USM) platform to supply airlines and MROs. This strategic decision laid the groundwork for TrueAero’s diversified approach, distinguishing it from competitors focused solely on leasing or parts trading.
Early Growth (2013–2017)
TrueAero was officially founded in 2013, with its corporate headquarters in Sebastian, Florida, and additional offices in Arlington, Texas. The company quickly established itself as a trusted source for commercial engine and airframe material, emphasizing quality, integrity, and long-term customer relationships. Its Dublin-based arm, TrueAero Asset Management Ireland (TAAMI), emerged as a key component, leveraging Ireland’s status as a global hub for aircraft leasing due to favorable tax structures and proximity to European markets. TAAMI focused on leased portfolio management, offering alternative and traditional investment strategies for institutional and private investors.
Under Drusch’s “hands-on” leadership, TrueAero prioritized mid-to-end-of-life solutions, a niche that allowed it to manage older aircraft and engines profitably. Drusch’s vision was to create a company that balanced asset-based investing with portfolio optimization, aligning the interests of investors and managers. By 2014, TrueAero was described as a “diversified aviation solutions and services powerhouse,” with a growing team of industry experts and a stockpile of over 65,000 airframe and engine parts.
Drusch’s engineering background and industry connections were instrumental in these early years. His experience at major airlines and manufacturers like Lockheed Martin and Northrop Grumman (where he held development roles) equipped him to navigate the complex aviation market. He fostered a customer-centric culture, emphasizing technical expertise and responsive service, which helped TrueAero build a reputation as a reliable partner for airlines, MROs, and leasing companies globally.
Expansion
A pivotal moment came in 2017 when TrueAero merged its asset management division with SK Aero Partners to form TrueAero Asset Management (TAAM), enhancing its leasing and part-out consignment capabilities. This merger, announced on October 9, 2017, strengthened TrueAero’s position as a multi-faceted provider, with TAAM and TAAMI offering services like maintenance reserve projections, lease return management, and end-of-life liquidation. Drusch described the unification as positioning TrueAero as a “leading provider in the aviation industry,” committed to professional and effective service. The Dublin office played a critical role in managing leased assets for European and global investors, capitalizing on Ireland’s leasing expertise.
By 2021, TrueAero had grown to manage over $680m in leased assets, focusing on Airbus and Boeing narrow- and widebody aircraft and engines from Pratt & Whitney, GE, Rolls-Royce, IAE, and CFMI. A notable partnership with Air Lease Corporation (ALC) began in 2021, involving a CFM56-5B-powered A320-200, with one engine joining TAAM’s leasing portfolio and the other dismantled for parts. This collaboration highlighted TrueAero’s ability to integrate leasing and material consignment, a strategy Drusch championed to maximize asset value.
Drusch’s leadership during this period emphasized innovation and efficiency. In 2019, TrueAero adopted AvSight, a cloud-based ERP system built on Salesforce, spearheaded by Senior Director of Business Intelligence Nicole Ellis. Drusch praised AvSight’s “game-changing” reporting and data capabilities, which improved workflow, reduced time spent tracing part provenance, and enhanced real-time decision-making. The system’s user-friendly design allowed sales teams to attach paperwork easily and track deals, reflecting Drusch’s focus on leveraging technology to support growth.
Outlook
By 2025, TrueAero has solidified its reputation as a global aviation investment platform, with corporate offices in Florida and Texas, and sales, marketing, and finance hubs across the Americas, Europe, and Asia. The Dublin-based TAAMI continues to serve as a cornerstone for its leasing operations, managing a diverse portfolio for institutional investors and providing risk-adjusted returns. The company employs 76 professionals and generates $22m in annual revenue, with a team led by Drusch and key figures like President Stratton Borchers and Senior Vice President Chris Luke.
Drusch’s vision for TrueAero’s future, is to establish the company as a “greatly valued supplier” in both leasing and used serviceable material markets. He enjoys working with his team and customers to achieve mutual success, a philosophy reflected in TrueAero’s collaborative culture. The company’s 10th anniversary celebration of Vice President of Operations Gustavo Delpozo in 2023 underscored its tight-knit team, with Drusch acknowledging Delpozo’s role in shaping TrueAero’s success.
In 2025, TrueAero is poised for further growth, with active participation in industry events like MRO Americas (April 2025), where Drusch and his team connect with partners to expand their network. The company continues to recruit talent, advertising open positions to bolster its aviation expertise. Additionally, TrueAero’s partnership with Inforge in 2025 is enhancing its technology goals, aligning with Drusch’s emphasis on innovation.
His early roles at Continental, Northwest, and Pratt & Whitney provided technical expertise, while his leadership at PSG Turbines and development work at Lockheed Martin sharpened his ability to manage complex aviation projects. As a respected industry figure, Drusch has spoken at aerospace events and served on the FAA’s Technical Advisory Committee, influencing aviation technology advancements.
At TrueAero, Drusch has been the driving force behind its diversified model, integrating leasing, asset management, and parts supply to create a resilient business. His decision to retain and disassemble A320s for a USM platform, rather than selling them outright, was a bold move that paid off, establishing TrueAero as a leader in mid-to-end-of-life solutions. His adoption of technologies like AvSight and partnerships with firms like Air Lease Corporation reflect a forward-thinking approach to staying competitive.
Drusch’s leadership style is collaborative and hands-on, fostering a team of “proud aviation nerds” who share his passion for excellence. His personal connection to aviation—rooted in his family’s legacy—infuses TrueAero with a sense of purpose, making it not just a business but a continuation of his lifelong commitment to the industry.
TrueAero’s TAAMI division, which capitalises on Ireland’s position as the global epicenter of aircraft leasing. With over 50pc of the world’s leased aircraft managed from Ireland, TAAMI’s Dublin hub enables TrueAero to offer sophisticated investment strategies, manage lease portfolios, and provide services like aircraft remarketing and end-of-life liquidation to European and global clients. The Dublin office’s proximity to major lessors and financial institutions enhances TrueAero’s ability to secure deals and attract investors, a critical component of its $680m asset portfolio.
TrueAero’s history is one of strategic growth, from a 2013 startup to a global aviation leader managing $680m in assets by 2025, with a strong Dublin presence through TAAMI. Karl Drusch’s leadership—rooted in his engineering expertise, industry experience, and innovative vision—has been central to this success. By blending leasing, asset management, and aftermarket solutions, TrueAero has carved a unique niche, supported by Drusch’s commitment to technology and customer relationships.
