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Agenda Overview


Monday 4th July 2016

08.00 Registration and welcome coffee

08.45 School and case study introduction

  1. Bertrand Dehouck, Head of Aviation EMEA, BNP Paribas
  2. Isabelle Coron, Senior Industry Consultant, BNP Paribas
  3. Justin Benson, Partner, White & Case
  4. Adrian Beasley, Partner, White & Case

09.45 Introduction to aircraft finance and the aviation industry

  1. Phil Seymour, President and Chief Operating Officer, IBA Group Limited

10.15 Sources of funding

  • How has aircraft financing been affected by present market conditions?
  • Focus on increasing pricing and decreasing tenor length in transactions
  • Assessing different products on the market: equity; debt; securitizations; conduits; financing and operating leases
  • Successfully structuring transactions: Key factors to take into consideration
  • Assessing and mitigating risks
  1. Bertrand Dehouck, Head of Aviation EMEA, BNP Paribas
  2. Isabelle Coron, Senior Industry Consultant, BNP Paribas

11.15 Morning break

11.45 Credit and risk issues

  • Aircraft security – how protected are you?
  • Key drivers of successful airline management
  • Competitive environment & market positioning
  • Financial analysis, jurisdiction risk and transaction structure
  1. Shane Matthews, Head of Credit Risk, SMBC Aviation Capital

12.30 Lunch

13.45 Capital markets in aviation

  • Reviewing the EETC Market and development of Non-US issuers into this market
  • EETCs vs. other financing alternatives
  • Review of the aircraft and engine portfolio securitization market and structures
  • Unsecured issuance among Aircraft Lessors vs Airlines
  • Institutional term loan and secured bond markets
  • Review of non-recourse alternatives: Use of Aircraft ABS in aircraft portfolio sales
  1. Bertrand Dehouck, Head of Aviation EMEA, BNP Paribas

14.30 Asset Focus – Crash course in asset valuation

  • Aircraft/Engine liquidity
  • Key determinants of aircraft value
  • Aircraft maintenance status and understanding maintenance reserves
  1. Simon Finn, Senior Vice President, Aviation Research, DVB Bank SE

15.30 Afternoon break

16.30 Update on the Cape Town Convention

  1. Adrian Beasley, Partner, White & Case

17.00 Applied Case Work: Structuring an Aircraft Finance Transaction

18.00 Drinks reception

19.00 Dinner


Tuesday 5th July 2016

09.15 Morning coffee

09.30 Operating leasing

  • Operating lease fundamentals and lease market developments
  • What do lessors look at when putting deals together?
  • Why would airlines use operating leases?
  • Lessors’ challenges yesterday, today and tomorrow
  • Lessors’ business models and exit strategies
  1. Dick Forsberg, Head of Strategy, Avolon

10.20 Export credit financing

  • Export Credit Agencies – introduction and role in financing new aircraft on order
  • Why do ECAs exist and what do they do?
  • Highlighting key features of export credit in a transaction
  • Working with commercial lenders on deals standards borrowers need to adhere to in order to access ECA coverage
  • How much coverage can ECAs provide on new loans?
  • Future trends – Is there room for PDP funding and ECAs to work together?
  • New products: ECA bonds and pre-funded bonds
  1. Gordon Welsh, Head of Aerospace Finance, UK Export Finance 

11.10 Morning break

11.40 Asset management and remarketing in a volatile market

  • Successfully assessing portfolio exposure in current market conditions
  • Deciding on the right appraiser / appraisal
  • Demystifying the appraisal process: What should clients be aware of when choosing aircraft?
  • Analysing the cost of reconfiguration for different types of aircraft
  1. Bill Cumberlidge, Director, Aviation-Partners Limited

12.30 Lunch

14.00 Manufacturer support

  • Assessing customer support
  • What type of products do manufacturers support and how?
  • Why are aircraft a good investment?
  1. Vicky Hartley, Senior Director – Europe, Boeing Capital Corporation
  2. Cathal Kyle, Customer Finance Director, Airbus

 15.00 Afternoon break

15.30 Introduction to legal issues in aircraft financing

  • Structure diagram and typical transaction documentation
  • Use of special purpose companies
  • Overview of covenant package and typical events of default
  1. Justin Benson, Partner, White & Case

16.30 Applied Case Work: Structuring an Aircraft Finance Transaction

18.00 Drinks reception

19.00 Dinner


Wednesday 6th July 2016

08.45 Morning coffee

09.00 Insurance considerations

  • Insurance considerations
  • What risks should you be aware of?
  • Breach of warranty
  • Loss payee clauses
  • Captive insurers
  1. Simon Richards, Executive Director, Global Aviation Aerospace, Willis Aerospace

09.45 Engine asset management, leasing and financing

  • ROI on engines and how engines compare with aircraft as assets
  • Engine leasing and financing
  • How do engines impact lessors and bankers’ financing?
  • Practical impacts of power-by-the-hour maintenance arrangements and how they fit into the financing world
  1. Ben Peacock, Legal Counsel, Rolls-Royce

10.45 Morning break and case study preparation

12.30 Case study presentations and prizes

13.20 Closing remarks from the Faculty

13.30 Lunch and close of School