17th Annual Asia Pacific Airfinance Conference

8:20AM Registration

8:50AM Chairman’s welcoming remarks

Declan Keane, Head of Aviation Advisory, KPMG Ireland

9:10AM Opening Keynote

Have we reached the peak in the leasing cycle?

• Is demand for leasing softening?  
• Is there a sign of aircraft oversupply in the market?
• Will consolidation and acquisition continue?

Alec Burger, President & CEO, GE Capital Aviation Services

9:30AM Presentation

0930 Presentation: Assessing the potential impact of IFRS–16 on airlines

Killian Croke, Partner, Aviation Finance and Leasing, KPMG Ireland

9:50AM Airlines’ panel discussion

Managing currency, capacity and financing risk

• How to manage currency mismatch and fluctuation
• Where are the capacity risks faced by the Asia Pacific carriers? Are there regional differences in traffic growth?
• Potential effect of IFRS-16 on airlines’ balance sheets – are airlines becoming less incentivized to lease aircraft?   
• How important are alliances in today’s climate?
   

Nirmal Govinda Das, Senior Vice President - Corporate Treasury, Emirates 
Filip Kidon, Treasurer Capital Markets, Group Treasury, Office of the CFO, Qantas Airways
Yasantha Dissanayake, Head of Financial Management, SriLankan Airlines
Moderator: CHEN Fei, Vice President of Aircraft Leasing Division, Minsheng Financial Leasing

10:35AM Networking coffee break

11:15AM Q and A

Spotlight on lessors: Pros and cons of being a public lessor and private lessor, and the opportunities and challenges  

• And in-depth look at the pro’s and con’s of being a public and private lessor
• IPO pricing and share allocation, road show experiences, and investor reaction
• Use of proceeds and growth strategies
• Key success factors, opportunities and threats ahead

Dómhnal Slattery, Chief Executive Officer, Avolon
Robert Martin, Managing Director & Chief Executive Officer, BOC Aviation
Interviewed by: Laura Mueller, Managing Director, Airfinance Journal
Olivier Bonnassies, Managing Director, Airfinance Journal

11:45AM Presentation

Equity performance of public lessors in post IPOs

• Is public equity market volatility an opportunity or threat? 
• How well suited are public equity markets to absorb the large amount of funding needs?
• Do equity investors place much value on aircraft?

Nicolas Parrot, Managing Director, Co-Head Transportation Sector, Investment Banking Asia Pacific
BNP Paribas Singapore

12:05PM Lessors' panel discussion

China: Developing a robust risk management process for Chinese lessors in line with international standards

      -      Risk management framework
      -      What determines the right deal for lessors in domestic and overseas markets? Is it all about gaining market share for startup lessors?
     -       Pros and cons of growth through acquisitions;
      -      How to develop market disciplines to protect falling margins   
      -      Effect of weaker CNY on lessors’ funding strategies and demand for CNY leasing products

Donal Boylan, CEO, CDBALF
HUANG Bo, Chief Commercial Officer, CMB Financial Leasing
LI Ling, Managing Director, Aviation, Bocomm Leasing
LIU Jiang, Executive Director, ICBC Financial Leasing
Moderator: Bill Gibson, Partner - Aviation, Dentons


 

12:50PM Lunch sponsored by Everbright Finanacial Leasing

2:10PM Panel discussion

Korea: Unlocking the potential of Korean institutional funds in the aviation sector 

• Profile of the new players
• Aircraft, airlines or lessors - which investment opportunity is most attractive to new money and what’s on the shopping list?
• How much capital is being deployed by the new lenders and investors and how big is the potential?
• Risk and return profiles of institutional funds in senior debt, mezzanine and equity

John Ha, Head of Alternative Investment, HI Asset Management 
KJ YANG, Head of Aviation Finance Team, Transportation Unit, Project Finance Dept.1, Korea Development Bank  
Kenneth Kang, Managing Director, Head of AI Department, Truston Asset Management
Moderator: GAO Sixiang, Executive Director, Aviation, Bocomm Leasing

2:55PM Panel discussion

Japan: Will there be more acquisitions and investment out of Japanese leasing sector?

• Current state of the JOL market
• With saturation in domestic aircraft leasing market and uncertainty for JOLCOs, where is the Japanese leasing industry heading?
• Where the new market opportunities are for Japanese firms - Asia and elsewhere?
• To be a silent partner, form a JV, or make acquisitions - what is the best strategy for Japanese lessors?

Mitsuru Koguchi, Associate General Manager-Structured Finance Department, Sumitomo Mitsui Trust Bank
Shin Watanabe, General Manager-Global Aviation and Maritime Finance Department, Sumitomo Mitsui Banking Corporation
Takamasa Marito, Joint General Manager and Global Head of Marketing, Century Tokyo Leasing  Corporation
Moderator:Kevin Butler, Managing Director, TMF Management (Ireland)

 

3:40PM Networking

4:10PM Panel discussion

China, Hong Kong, Ireland ,Singapore & Labuan – lessors’ considerations for choosing the most appropriate leasing jurisdiction

• Key considerations for choosing a location for satellite, regional and headquarter offices
• Pros and cons of  choosing each jurisdiction
• Snapshot - which jurisdiction is more investor and leasing friendly?

Hani Kuzbari, Managing Director, Novus Aviation Capital
John Graves, Managing Director, Asia and Middle East, ACG
Li Liu, Executive Vice President, GE Capital Aviation Services
Pitney Tang, Chief Operating Officer, CALC
Datin Shelina Razaly Wahi, Adviser, Aviation Financing, Labuan IBFC
Moderator: Andrew Lockhart, Partner, Baker & McKenzie

4:55PM Lessors panel discussion

How are lessor’s analyzing the upside and downside in leasing against the current global economic backdrop?

       -    What needs to happen to correct the imbalance of supply and demand of aircraft?
       -    What have been the trends in lease rates of narrowbodies in 2016, how will lease rates trend in 2017, and why are lessors concerned about liquidity in widebody trading?
       -    Can new lessors transform the leasing landscape in the next 5 years?
       -    Have we reached the peak of the cycle?  When do we see the beginning of a cyclical downturn? Growth strategies and risk management in 2017

Jon O'Connell, Managing Director, Asia Pacific Sales, AWAS
Krish Parampathy, Senior Vice President - Marketing,GE Capital Aviation Services  
Kevin McDonald, Executive Vice President, Capital Markets, Jackson Square Aviation
Paul Sheridan, Acting Managing Director and SVP, Risk and Capital Markets, Accipiter
Sibylle Pähler, Managing Director, Doric GmbH
Moderator: Bertrand Grabowski, Member of Board of Managing Directors, DVB Bank SE

5:45PM Chairman's closing remarks followed by KPMG cocktail

8:30AM Registration and Networking

9:00AM Chairman’s welcoming remarks

Polis Polycarpou, Senior Vice President, Head of Information & Strategic Marketing (Aviation)
DVB Bank SE

 

9:10AM Keynote session

Q&A – industry forecast
Aengus Kelly, Chief Executive Officer, AerCap
Interviewed by: Laura Mueller, Managing Director, Airfinance Journal
Olivier Bonnassies, Managing Director, Airfinance Journal

9:30AM Panel discussion

Opportunities and threats for regional aircraft

• Financing sources for regional aircraft
• User base – lessors vs airlines
• Lease rate performance and growth prospects
• Challenges for diversifying the secondary market user base

Greg Alberts, Senior Vice President Global Leasing & Asset Management, Mitsubishi Aircraft Corporation
Jeff Chatfield, Founder and Executive Chairman, Avation PLC
Jerome Gabory, Head of Leasing Markets, ATR
Moderator: Bert van Leeuwen, Global Head of Aviation Research, DVB SE

10:15AM Networking coffee break

10:45AM Panel discussion

1045 Panel discussion: Engine financing, investing and leasing - exploring new sources of capital investing in engine leasing

• With the aftermarket controlled by OEMs, why is the market share of engine lessor financing increasing rather than decreasing?
• How has fuel pricing affected the RVs and lease rates of old engines?
• Will banks continue to allocate more capital to fund airlines rather than lessors?
• Equity interest and ROE in investing in engine

Brian Ovington, Director of Marketing, GE Aviation Engine Services
Jon Sharp, President & CEO, ELFC
Mark Garrett, Director- Asset Management, Rolls-Royce plc
Paul J Finklestein, VP- Marketing, Pratt & Whitney
Moderator: Paul P. Jebely,Managing Partner, Pillsbury Winthrop Shaw Pittman

11:30AM Panel discussion

How will the debt capital markets adapt to new technologies and new aircraft?

• With aircraft values of older generation technology under pressure, how will this affect the underwriter when structuring deals?
• With less activity in ECA guaranteed financing, does this open up more opportunities for capital markets deals? What's the outlook for ECA guaranteed bonds?
• Resurgence of cross–border debt capital market issuance for Asian lessors and airlines

Cristina Chang, Managing Director, Asia Pacific Structured Finance, Citi
Peter Davis, Head of Treasury, BOC Aviation
Mark L. Wasden, Vice President-Senior Credit Officer, Financial Institutions, Moody’s Investors Service
Steve Sutinen, Senior Portfolio Manager, Fixed Interest, Challenger Investment Partners
Vinodh Srinivasan, Managing Director, Co-Head Structured Credit Group, Mizuho Securities USA
Moderator:ZHU Limi, Senior Director, Finance Department, Minsheng Financial Leasing
 

12:15PM Panel discussion

Lenders’ views on negative interest rates, FX and liquidity risks, IFRS-16 and Basel IV

• Effect of negative interest rate on banks’ financing strategies
• Who are the new lenders in providing PDP debt in the market?
• Trends in secured and unsecured debt issuance for lessors and airlines
• Potential impact of IFRS-16 on airlines - how are Asian airlines going to manage local currency devaluation and a strong USD?
• Effect of Basel IV on aircraft financing

David Goring-Thomas, Global Head of Aviation, DVB Bank
Masao Masuda, General Manager - Overseas Business, Corporate Finance Dept. Division IV & V (Transportation and Energy), Development Bank of Japan
Munawar Z. Noorani, Managing Director, Head of Aviation, EMEA & APAC, Citi
Wui Jin Woon, Head of Aviation, Asia Pacific, Natixis
Moderator: Paul Ng, Partner, Milbank

1:00PM Lunch

2:20PM Debate

NEO vs MAX – which family is more versatile for Asia Pacific fleets

Two propositions. Two teams. Enjoy as they argue for the right aircraft type for Asia Pacific carriers.  Will you change your position by the end of the debate? The team with the winning proposition (judged by the audience voting system) will claim the trophy

Team 1
Andrew Cowen, CEO, Hong Kong Express
Jean–pierre Stainnack, Senior Vice President Sales – Japan, Airbus
Mark Lapidus, CEO, Amedeo

Team 2
Randy J. Tinseth, Vice President - Marketing, Boeing Commercial Airplanes
Robert F.X. Roy, Jr, Vice President – Transportation, Export-Import Bank of the United States
Paul Leighton, Managing Director, Aircraft Value Analysis Company
Moderator: Jon Sharp, President & CEO, ELFC

3:30PM Panel discussion

What will be the possible changes ahead in ECA backed aircraft financing?
 

• Impact of Brexit on UKEF?
• How will the transferal of French State export guarantees from Coface to Bpifrance Assurance Export improve the system of export guarantees
• Under a new government, how could this impact the status of US EXIM authorization? 
• With volatility in Brazil and the delay of C-series, how are BNDES and EDC responding to the challenge?
• With strong commercial market liquidity and higher premium of ECA financing, how relevant is ECA support going forward?

André Rüttimann, Manager , Aircraft Financing - Export Credit Division,  Banco Nacional de Desenvolvimento Econômicoe Social (BNDES)
Eric AGOTE, Head of Unit – Airbus Unconditional Guarantee, State Guarantees Directorate, COFACE
Patrick Cauthery, Head of Aerospace  & Defence, UK Export Finance
Robert F.X. Roy, Jr, Vice President – Transportation, Export-Import Bank of the United States
Thomas Kolberg, Aircraft-Head of Department, Euler Hermes Aktiengesellschaft
Viren Joshi, CFA, Global Accounts Director, Transportation Team, Aerospace, Export Development Canada
Moderator: HUANG Bo, Chief Commercial Officer, CMB Financial Leasing
 

4:20PM Closing panel

Improving valuation methodologies to meet new demand from the aviation sector

• Why do appraiser opinions of aircraft values vary so significantly?
• Why do most appraisers exclude lease terms as the basis for valuation of used aircraft?
• Why are there so many concerns about the liquidity of widebody aircraft in the market?
• What needs to be done in the appraisers’ community to meet new changes in the aviation industry?

Angus Mackay, Principal, ICF 
Phil Seymour, President and CEO, Senior ISTAT Certified Appraiser, IBA
John Vitale, CEO and ISTAT Certified Appraiser, Avitas
Simon Finn, Senior Vice President, Aviation Research, DVB Bank SE 
Moderator: Dick Forsberg, Head of Strategy, Avolon
 

5:10PM Chairman's closing remarks followed by CHAPS post cocktail reception