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Agenda Overview

Day 1: Monday, July 8, 2019

8:00AM Registration & welcome coffee
8:45AM School and case study introduction
9:30AM Introduction to aircraft finance & the aviation industry
Phil Seymour, Chief Executive Officer, IBA Group Limited
10:10AM Export credit financing
  • Export Credit Agencies – introduction and role in financing new aircraft on order
  • Why do - 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
  • ECA activity has been on the decline, particularly in the US, what is the forecast for activity in 2018/19?
Patrick Cauthery, Head of Aerospace & Defence, UK Export Finance
11:10AM Morning break
11:30AM 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
  • Cape Town Convention
1:00PM Lunch
2:00PM Operating leasing
  • Operating lease fundmanetals and lease market developments
  • What do lessors look at when putting deals together?
  • Why would iarlines use operating leases?
  • Lessors' challenges yesterday, today and tomorrow
  • Lessors' business models and exit strategies
Dick Forsberg, Head of Strategy, Avolon
2:45PM Asset focus - Crash course in asset valuation
  • Aircraft/Engine liquidity
  • Key determinants of aircraft value
  • Aircraft maintenance status and understanding maintenance reserves
Simon Finn, Senior Vice President, DVB Bank SE
3:45PM Afternoon break
4:00PM Bridging the technical and financial - understanding the aircraft asset type
  • Aircraft performance: max take-off weight, zero fuel weight, payload, specific runway and aircraft performance.
  •  'Hot and High’ operations.
  • Aircraft Payload/Range, and some of the variables and costs involved.
  • Extended-Range Twin Engine Operations (ETOPS) – implications both for the 737 & A321
Mark Atherley, Consultant, Atherley Associates
5:00PM Applied Case Work: Structuring an Aircraft Finance Transaction
6:00PM Drinks reception

Day 2: Tuesday, July 9, 2019

9:40AM Morning coffee
10:20AM Sources of funding
  • How has aircraft financing been affected by present market conditions?
  • What impact will interest rates rises have on the bank’s competitive position?
  • 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
James Paterson, Senior Vice President, Aviation Finance, DVB Bank
11:10AM Morning break
11:40AM Credit & 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
Karl Creevy, Head of Credit Risk, SMBC Aviation Capital
12:30PM Lunch
2:00PM Manufacturer support

• Assessing customer support

• What type of products do manufacturers support and how?

• Why are aircraft a good investment?

Stephane Rouault, Product Management, Airbus
Vicky Hartley, Senior Director, Customer Finance - Europe, Boeing Capital Corporation
3:00PM Afternoon break
3:30PM 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
4:15PM Applied case work: Structuring an aircraft finance transaction
5:15PM Drinks reception
5:45PM Evening barbecue

Day 3: Wednesday, July 10, 2019

8:45AM Morning coffee
9:00AM Insurance capital & products in aviation finance
  • In recent times, starting with AFIC, Insurance backed financing products have proliferated in the aviation space, what are these structures and how will they impact the industry?
  • How can airline customers utilize these products and under which circumstances are they suitable?
  • What impact can we expect these products to have on ECA funding?
Leslie Kurshan, Managing Director, Global AFIC Credit Specialties Leader, Marsh Ltd
9:45AM Engine asset management, leasing & 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
10:45AM Morning break & case study preparation
12:30PM Case study presentations & prizes
1:20PM Closing remarks from faculty
1:30PM Lunch & close of school