2nd Annual Korea Airfinance Conference

8:00AM Registration

9:00AM Chairman’s opening remarks

9:10AM Opening keynote: Sustaining Korean investors’ appetite for aircraft financing

• Current deal flow and transaction volume in Korea – Where is the market heading?
• How to channel more capital into aircraft investment?
• What needs to be done to ensure the continued development of Korea’s aviation market?

9:30AM Recent Trends in Commercial Lending and KDB Aviation Finance

9:50AM Keynote: Fleeting and re-fleeting, trading opportunities for used aircraft

• Growth in new routes – European and Southeast Asian markets
• What is Korean Air's fleet planning strategy? Leased vs purchased aircraft
• Where do airlines see the opportunities in trading used aircraft?
• New source of capital and cost of financing for widebodies, B777-300ER, B787-9, A330-300, A350-900

10:10AM Networking coffee break

10:40AM Airlines’ panel: Tapping into Asia market for financing needs

• Can international carriers tap into Asia's middle class tourist boom and continue the growth of passenger traffic from Asia?
• New alliances, new financing opportunities with Asian lenders
• Where do airlines see the opportunities to access capital from institutional investors and Asian lenders?
• Is the Korean market big enough to accommodate the new LCCs? What are the challenges in obtaining the air operator's certificate?

11:20AM Panel discussion: Insurance markets delivering new aircraft finance solutions

• What explains the increased demand for insurance-backed products
• Can AFIC structure serve as an alternative financing tool when ECA funding is reduced?
• What does insurance-backed financing mean to Korean institutional investors?

12:10PM Lunch

1:35PM Lessors’ panel: Widebody and narrowbody portfolio trading

• Fixed or floating lease rate – which is more popular for airlines in the current market conditions?
• Do lessors see a remarketing challenge for widebodies such as A380 and B777-300ER?
• With mega funds setting up to acquire mid-age aircraft, what is the appetite of Korean institutional investors for investing in mid-age aircraft?
• With the B737MAX and A321NEO coming out, how will these new generation aircraft affect the lease rates for used aircraft?

2:20PM Airbus & Boeing presentations: Next generation of aircraft

• Order book size
• Production rate and strategy
• Supply and demand

2:50PM Presentations: The rise of regional jets and turboprops

• What are the best regional jet models: Q400, CS100, CS300, ERJ 145, ERJ190/195, ATR72-600, ATR42-600
• Where is the demand for regional jets in Asia? What does the future hold for the next generation of turboprops?   
• Is the maintenance programme cost efficient?
• Liquidity in the secondary market 

3:35PM Networking coffee break

4:05PM Underwriters’ panel: Rekindle investors’ interest in aircraft investment

• What are the causes of slowing deal flow? Is it temporary or long-term? How to structure the deals to be more competitive?
• How to compensate the yield of mezzanine debt investors given the risks they are taking?
• How to minimize the residual value risk that the institutional investors are exposed to?
• What is the aircraft type preference for 2018? Is there a shift from widebody to narrowbody aircraft?

4:45PM Lenders’ panel: Loan syndication, balloon risks, lessor portfolio financing

• Opportunities and challenges of engaging in syndication with overseas banks
• How do you effectively manage balloon risk?
• Setting up a mezzanine blind fund – a potential solution for low yield?
• Volume and deal flow in 2018
• Korean lenders’ appetite for new asset types

5:25PM Day one close and cocktail reception

8:30AM Registration

9:00AM Chairman’s welcome remarks

9:10AM Spotlight: Korean institutional investment criteria

This session will be a discussion of investment objectives including PE versus aircraft investment, the availability of mezzanine products and investing through the cycle.

9:40AM Panel discussion: How competitive are JOLCOs as financing tools?

• How will Japan’s tax reform impact JOLCO transactions?
• Are JOLCO transactions only accessible by top tier credits? What are the hurdles for Korean airlines to use JOLCOs for financing?
• How much commercial debt liquidity is available for the JOLCO market?
• Do investors prefer widebodies or narrowbodies? 

10:20AM Panel: Debt capital market transactions

• Which DCM products fall into Korean investors' risk/return matrices?
• Credit vs asset focus: With a stronger emphasis on asset quality, how do you structure a DCM product that taps into the institutional investor base?
• Are public or private placements more cost efficient?
• What deal size and asset type are investors looking for?
• How important are ratings to DCM transactions?

11:00AM Networking coffee break

11:30AM Panel: Residual value outlook and lease rate trend

• A330-300/B777-300ER – residual value outlook
• A380 – opportunities and remarketing challenges: What are the implications for Korean investors?
• What is the lease rate trend for widebodies and narrowbodies?

12:10PM Chinese lessors’ panel: Aircraft trading opportunities in Korea

• What is the potential of Korea as a new destination for aircraft trading?
• Korean investors' distinct needs and preferences – how to tailor portfolio to their demands? 
• Developing aircraft asset management capability of Chinese lessors
• How do Chinese lessors see the Korean aviation market evolving in the next three to five years?

12:50PM Accelerate the long-term development of the Korean aviation financing market

• Is Korea suitable for home-grown lessors or home-grown aircraft tax lease products?
• Innovation on the deal structure – how to make deal structures more cost efficient?
• Feasibility of establishing domestic aircraft asset management entities to serve the interests of Korean investors
• Transform Korean financiers from credit focused to asset-based lending

1:30PM Chairman’s closing remarks and close of the conference