0830 Registration and morning coffee
0900 Chairman’s opening remarks
Garry Burke, Chief Executive Officer, Pembroke Group
0910 Aircraft financing: China’s place in an ever-changing international marketplace
- Financing options in a deleveraging world
- Liquidity providers – banks vs. lessors vs. export credit vs. non - traditional investors
- Funding costs: RMB vs. USD
- Will Chinese banks play a great role as liquidity providers in international markets?
- The growing trends of Chinese banks moving into the leasing arena – what are the advantages?
LI Xiaopeng , Senior Vice Chairman, ICBC
0940 Airline finance managers’ panel discussion: Future strategies for aircraft financing
- Managing the debt ratio in a deleveraging world
- Incorporating long term plan into lease and buy decisions
- Sale and lease back: a strategy growing in popularity during the downturn
- Managing aircraft delivery schedules in the current market environment
- Domestic vs cross border financing options
- Fuel price volatility: will it return? how will airlines react?
- Challenges facing the cargo industry
- Financing converted freighters
- Export credit financing - The attractiveness of the Cape Town Convention discount to Chinese Airlines
FAN Cheng, Executive Director and CFO, Air China
Roger Han, Senior VP, China Airlines
LIU Dan, CFO, Hainan Airlines
XIE Xiaodong, CFO, Shanghai Airlines Cargo
MIN Byung -Chool, CFO, Grandstar Cargo
1030 Benefits of buying a new aircraft vs. old aircraft
- Lessee quality
- Risk assessment
- Lease terms
- Predictability of cash flows
Soeren Ferré, CEO, AerCap Group Services
1100 Networking coffee break
1140 The impact of economic stimulus on China’s aviation industry
- Contrasting the performance of different airlines around the world
- Challenges facing China's economy
- Can China sustain the growth?
- How do changes in demand patterns effect flight trends?
Peter Morris, Chief Economist, Ascend
1210 Equity market perspective on airlines
- Equity valuations: Chinese airlines vs international airlines
- Is public equity available as a financing source?
- IPO of new LCCs
Anup Mysoor, Managing Director, Head of Industrials, Consumer & HealthCare, Global Corporate Bank, Asia Pacific, Citibank (confirmed)
1240 Lunch
1400 To be the best in a better world
- China’s poison in international aviation industry
- Development of air transport sector in China
- What can Ex-Im Bank of China do to support the aviation financing?
Dr. WU Qi Jin, Deputy General Manager, Transport Finance Department, China Ex-Im Bank
1430 Case study: Aircraft portfolio acquisitions: What mix of aircraft and lessees to look for?
- Managing the risk for financing acquisition: individual lessee default and off-lease aircraft
- Dealing with lessees as a new lessor under a novated lease
- Valuation of a portfolio of aircraft
John Leenane, Senior Vice President, Structured Finance, ORIX Aviation (confirmed)
1500 Valuations of global airline industry: Which region will recover first and when?
- Impact of financial crisis on global airline industry
- Global air traffic distribution
- Market analysis – mature markets vs emerging markets
- Equity performance - Asia vs rest of the world
Patrick McClymont Managing Director - Head of Transportation, Goldman Sachs
Tom Kim, Regional Transportation Research, Goldman Sachs (Asia)
1530 Networking coffee break
1600 Fuel: Riding the roller coaster
· How to hedge in current market conditions
· Choosing the duration of contracts
· Challenges for dealing with liquidity and market fluctuation
- Handling the hedging losses
- How to differentiate hedging losses and speculative losses
- Predictions for the future of oil prices
Foo Chee Hong, Vice President, Commodities Derivatives, Société Générale Corporate & Investment Banking
1630 Panel discussion: When will the time be right to invest in aircraft?
- Where are the good opportunities?
- What are investors looking for in aviation assets?
- What matter most to investors?
- Funding alternatives for aviation assets
- Value distortion- aircraft vs engine
- What services offered by manufacturers could enhance the value of engine?
- Restructuring a troubled asset and transferring the ownership- what will make it work?
· Interests of retail investors in assets and lessee credits
Lothar Ratei, Partner, GSI Fonds
Hani Kuzbari, Vice President-Investments, Novus
Bryson Monteleone, Marketing Director, ISTAT Certified Appraiser, Tailwind Capital
1715 Panel discussion: Lending considerations and export credit terms for aircraft financing
- Utililizing balance sheet capacity to bridge the funding gap
- Liquidity and the cost of capital: what can be allocated to aviation?
- What is the risk weighting being applied to Chinese airlines?
- Managing the lending portfolio – lessors vs airlines
- Asset backed lending vs collateral management
- Who will fund the export credit backed deals?
- Assessing the credit worthiness of airlines and lessors
- What role should China Ex-Im Bank plays to help the airlines in export finance transactions?
- China’s Ex-Im Bank’s role in financing Chinese aircraft for non-Chinese carriers
Dr. WU Qi Jin, Deputy General Manager, Transport Finance Department, China Ex-Im Bank
ZHAO Guicai, Deputy Head of Banking Department, ICBC
ZHAO Xiongfei, Senior Manager, Corporate Banking Department, Bank of China
Alain Chrun, Managing Director, Head of Asia Aviation Group, Structured Finance Department, CALYON CREDIT AGRICOLE CIB
Nicolas Parrot, Head of Aviation Finance Group, Asia-Pacific, BNP Paribas
1800 Chairman’s closing remarks following by cocktail reception
0830 Registration and morning coffee
0900 Chairman’s opening remarks
0910 Panel discussion: How carriers outside China are faring
- The view from Europe and the US – fuel, demand and funding options
- Lending opportunities for Chinese banks
- How Chinese leasing companies can help foreign carriers
Sophie Bouvard, Financial Affairs - Head of corporate finance, AIR FRANCE
Markus Ott, Head of Corporate Finance, Deutsche Lufthansa AG
David Arendt, Executive VP & CFO, Cargolux Airlines
Peter Warlick, Managing Director, Corporate Finance and Banking, American Airlines
Ted North, Managing Director of Corporate Finance, Continental Airlines
1010 Case study: Dealing with default scenario in aircraft financing: The Cape Town Convention registration system in China
1040 Networking coffee break
1120 Impact of the global recession on aircraft valuation
- Value distortion for popular aircraft – how far have values fallen?
- What types of aircraft are performing well in the secondary market?
- When will the value recover?
Bryson Monteleone, Marketing Director, ISTAT Certified Appraiser, Tailwind Capital
1150 It’s not all bad news – why this is the right time to launch a leasing company
- The private equity model
- Building a portfolio versus buying a platform
- Join ventures, partnerships and overseas opportunities
John Slattery, Founder and CEO, GreenStone Aviation
1220 Manufacturer finance: Bridging the funding gap
- In the absence of capital markets, where do manufacturers seek capital?
- Who will provide the liquidity to the industry?
- Flexibility of financing terms vs. cost of capital
Moderator: Alasdair Whyte, Group Editor and Publisher, Airfinance Journal
Kostya Zolotusky, Managing Director, Capital Markets Development, Boeing Commercial Aircraft
Nicolas Chrétien, Structured Finance Manager - Aircraft Financier Relations, Airbus
1250 Lunch
1420 Chinese lessors’ panel discussion: Can China aviation leasing companies turn the crisis into an opportunity?
- Is it the right time for Chinese lessors to enter the international market?
- Onshore market vs offshore market - where are the opportunities for lessors?
- Opportunities for cross border leasing
- Challenges for dealing with non Chinese clients
- Constraints on aircraft acquisition
- Are lessors and banks still financing aircraft?
- Managing different asset pools
- Satisfying different lessees – flexibility of leasing terms
Johnny Lau, Managing Director, Global Head of Aviation Finance, ICBC Leasing
Frank Gao, General Manager, CHANGJIANG Leasing
CHEN Dongyue, CEO, Bank of Communications Financial Leasing
Jean-Louis Chevrot, CEO, Dragon Aviation Leasing
1505 International lessors panel discussion: Assessing opportunities in the Chinese leasing markets
- How are lessors affected by the economic downturn?
- Assessing the implications of currency restrictions
- Legal and documentatary risks
- Issues related to withholding tax
- What is the potential of the Chinese leasing market?
- Developing a secondary market
- How can international leasing companies compete effectively in China?
Moderator: Garry Burke, Chief Executive Officer, Pembroke Group
Soeren Ferré, CEO, AerCap Group Services
Robert Lamoureux, Vice President and Senior Regional Director, Asia Pacific, CIT Aerospace Asia
Steven Townend, Chief Commercial Officer and Deputy Managing Director, BOC Aviation
John H. McKean, SVP, Head of Airline Marketing, Aviation Capital Group
CHEN Jie, Managing Director, Asia, ILFC
1550 Networking coffee break
1620 Regional manufacturers’ panel discussion: Prospects of regional aviation in China
- Demand and supply for regional aircraft – is there room for growth?
- Benefits of establishing a joint venture with local manufacturers?
- What will the next generation of Chinese aircraft look like?
- Risk classifications for regional jets – will smaller aircraft survive the crisis?
- Pricing the aircraft in a challenging environment
- Export financing for regional aircraft
- How will smaller aircraft be financed?
Tom Henning, Product Marketing Director, CFM
YANG Wenhan, General Manager, Finance Department, COMAC
Yugo Fukuhara, Director, Marketing, Mitsubishi Aircraft Corporation
Philippe Poutissou, Vice President of Marketing, Bombardier Commercial Aircraft
1705Chairman’s closing remark and close of the conference