13th Annual Middle East and Africa Airfinance Conference

DAY ONE: Tuesday 13th October 2015

09.00am Chairperson’s opening remarks

1. Polis Polycarpou, Senior Vice President - Information & Strategic Marketing, Aviation Division, DVB Bank SE

09.30am Emirates explores new financing and expansion strategies 

• New funding source: Emirates prices UKEF sukuk bond
• Emirates' risk strategy for currencies and interest rates
• Emirates’ financing strategy in 2015-16

1. Nirmal Govinda Das, Senior Vice-President, Corporate Treasury, Emirates Airlines

10.00am Securitizing sukuks – flydubai case study

• Deal rationale, benefits and challenges
• What is the depth of the sukuk market?
• Who else can benefit from the structure?
• What is the future of the product?

1. Frank Genet, Managing Director – Aviation Group, Credit Agricole Corporate & Investment Bank
2. Ahsan Ali, Global Head of Islamic Origination, Standard Chartered Bank
3. Mukesh Sodani, Chief Financial Officer, flydubai

10.45am What is a sensible airline funding strategy for Middle East and African carriers?

• Who are the new lenders in the region and can they stay for the long run?
• What impact are new sources of funding having on the region and the industry overall?
• What advantages can the commercial loan market offer in comparison to new funding sources?
• Should MEA airlines rely on opportunistic financing?
• What would constitute a sustainable airline funding strategy?

1. Bertrand Dehouck, Head of EMEA, BNP Paribas
2. Frank Wulf, Managing Director, Regional Head of Aviation EMEA, DVB Bank SE
3. Maybel Saleh, Vice President, EMEA Aviation, Citigroup Global Markets
4. Richard Moody, Managing Director, Deutsche Bank
5. Moderated by: Senior representation, Dentons

11.45am Morning refreshments and networking

12.30 Appraisal panel: What will happen to the A380?

• How are newer and current programs impacting the A380
• What is the value of the A380 and how is that likely to evolve over time?
• What happens if a stretch version of the A380 is launched?

1. Mark Lapidus, Chief Executive Officer, Amedeo
2. Phil Seymour, Chief Executive Officer, IBA Group
3. Johan Visser, Executive Director, J.P Morgan

13.15 How are engine manufacturers adapting to better service airlines and lessors in the region?

• How is the engine market evolving to meet market demand and the region?
• How is the engine aftermarket adapting to help aircraft lessors in particular?
• Implications of engine OEM power by the hour agreements and the impact they have on secondary aircraft market liquidity
• Challenges of operation in the Middle East region

1. Christophe Poulain, Vice President Commercial Strategy, CFM

13.35 Lunch

15.00 Equity valuation in the Capital Markets and opportunities in the Middle East

• Who are the new investors coming into the market and what are their expectations?
• How are airlines valued in the market vs lessors?
• What metrics are used to value issuers?
• What opportunities are there for Middle Eastern carriers?

1. Mike Linenberg, Analyst, Deutsche Bank
2. Greg Lee, Managing Director, Head of Aviation Investment, Goldman Sachs
3. Hani Kuzbari, CFA, Managing Director, Novus Aviation Capital
4. Moderator: Sarah Aoun, Director, Capital Markets Financing, Airbus

15.45 What is the future of export credit in aircraft finance? 

• Increasing differentiation in bank market: Regulatory issues, funding models
• Increasing roles of NBFIs
• Currency impacts including potential strong demand from EUR accounts for European sovereign risk
• Different products on offer from ECAs: securitization guarantees, KfW and SFIL schemes
• Different guarantees: Structure (including Coface) and terms (including waiting periods)

1. Eric Agote, Head of Unit – Airbus Unconditional Guarantee, State Guarantees Directorate, Coface
2. Gareth Waterhouse, Transportation Finance, UK Export Finance
3. Lynda Bernst, Senior Account Executive - Surface Transportation, Export Development Canada
4. Moderated by: John Meakin, Managing Director, JP Morgan

16.30 Chairperson’s closing remarks followed by drinks reception and end of day one

DAY TWO: Wednesday 14th October, 2015

09.00am Morning refreshments and networking

09.20am Chairperson’s opening remarks 

09.30am Lessor debate: Have we reached a turning point in the leasing sector?


In this high profile session, Bertrand Grabowski will ask top senior executives from some of the world’s most active leasing companies whether recent changes in the leasing sector are likely to profoundly impact the industry and the MEA region over time

1. Steve Hazy, Chief Executive Officer, Air Lease Corporation
2. Kieran Corr, Chief Executive Officer, Pembroke Group Limited
3. Hani Kuzbari, CFA, Managing Director, Novus Aviation Capital
4. Khusro M. Hamdulay, Chief Financial Officer, ALAFCO
5. Todd Freeman, Managing Director, MEA/CIS regions, GECAS
6. Moderated by: Bertrand Grabowski, Member of the Board of Managing Directors, DVB Bank SE

10.30am Flynas expands in the Gulf LCC market

• Flynas' business model and growth plan
• Revenue management strategy and market positioning
• Fleet plans and funding strategy

1. Senior representation, Flynas

11.00am Morning refreshments and networking

11.30am Aircraft Manufacturers’ Debate

In this interactive session, aircraft manufacturers will in turn engage in a formal debate in which each speaker will defend their position or refute a given argument

1. Kostya Zolotusky, Managing Director, Capital Markets Development, Boeing
2. Milco Rappuoli, Sales Director Middle East, ATR
3. John Kassis, Regional Vice President of Sales for Middle East and Africa, Bombardier Commercial Aircraft
4. Raul De Oliveira Villaron, Marketing Director, EMBRAER
5. Richard Walker, Head of Leasing & Investor Marketing, Airbus
6. Moderated by: Simon Finn, Senior Vice President, Aviation Research, DVB Bank SE

12.30pm Air Arabia’s new business plan in the spotlight

• Rationale behind Air Arabia’s subsidiary strategy
• Increasing volumes and building the brand
• Launching operations in Jordan
• Financing strategy in support of the airline’s expansion

1. Adel Ali, Group Chief Executive Officer, Air Arabia

13.00pm Chairperson’s closing remarks followed by lunch and end of conference