Airfinance Journal European School 2019

07-10 July 2019

Downing College, University of Cambridge

Cambridge, United Kingdom

Event Overview

The longstanding Airfinance Journal European School 2019 (formerly Summer School of Aviation Finance) returns to Cambridge this July to educate and develop the future aviation finance elite. 

Last year’s school boasted record numbers, with 60+ attendees and reached capacity two months out from the event. Airfinance Journal European School registration is opening earlier due to popular demand. You can register your place through the button below.

Over a three-day, intensive course, you'll join peers from across Europe to gain in-depth knowledge of the latest funding products, discover how to stay ahead of the curve in competitive markets and learn how to put together complex and innovative financing structures. Taught by the industry's leading players, this is a unique opportunity to meet and build early business connections with future prospective clients. 

Key features for 2019 include: 

  • A 3-day intensive course, including 20+ hours of lessons and practical case studies to enhance your knowledge 
  • Full supplementary learning materials and advice on continuing your training 
  • Course accreditation 
  • 3 nights accommodation, with refreshments and lunch included 

 

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Agenda

08 00 AM Registration & welcome coffee
08 45 AM School and case study introduction
  • Justin Benson, Partner, EMEA EIPAF - Asset Finance, White & Case LLP
09 30 AM Introduction to aircraft finance & the aviation industry
  • Phil Seymour, Chief Executive Officer & ISTAT Senior Fellow Appraiser, IBA Group Limited
10 10 AM 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?
11 10 AM Morning break
11 30 AM 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
13 00 PM Lunch
14 00 PM 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
14 45 PM Asset focus - Crash course in asset valuation
  • Aircraft/Engine liquidity
  • Key determinants of aircraft value
  • Aircraft maintenance status and understanding maintenance reserves
15 45 PM Afternoon break
16 00 PM 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
17 00 PM Applied Case Work: Structuring an Aircraft Finance Transaction
18 00 PM Drinks reception
09 15 AM Morning coffee
09 30 AM 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
  • Lessor sidecars – what are these management vehicles and how do they work?
  • Institutional term loan and secured bond markets
  • Review of non-recourse alternatives: Use of Aircraft ABS in aircraft portfolio sales
10 20 AM 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
11 10 AM Morning break
11 40 AM 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 30 PM Lunch
14 00 PM Manufacturer support

• Assessing customer support

• What type of products do manufacturers support and how?

• Why are aircraft a good investment?

  • Vicky Hartley, Senior Director, Customer Finance - Europe, Boeing Capital Corporation
15 00 PM Afternoon break
15 30 PM 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
16 15 PM Applied case work: Structuring an aircraft finance transaction
17 15 PM Drinks reception
18 30 PM Dinner
08 45 AM Morning coffee
09 00 AM 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, Leader, Innovative Client Solutions, Specialty Practice, Marsh UK
09 45 AM 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 45 AM Morning break & case study preparation
12 30 PM Case study presentations & prizes
13 20 PM Closing remarks from faculty
13 30 PM Lunch & close of school

Speakers

Justin Benson

Partner, EMEA EIPAF - Asset Finance

White & Case LLP

Phil Seymour

Chief Executive Officer & ISTAT Senior Fellow Appraiser

IBA Group Limited

Patrick Cauthery

Head of Aerospace & Defence

UK Export Finance

Dick Forsberg

Head of Strategy

Avolon

Simon Finn

Senior Vice President

DVB Bank SE

Mark Atherley

Consultant

Atherley Associates

Karl Creevy

Head of Credit Risk

SMBC Aviation Capital

Vicky Hartley

Senior Director, Customer Finance - Europe

Boeing Capital Corporation

Leslie Kurshan

Leader, Innovative Client Solutions, Specialty Practice

Marsh UK

Venue

Downing College, University of Cambridge

Downing College, University of Cambridge Regent Street,
Cambridge,
GB

Downing is a College of the University of Cambridge and was founded in 1800 through a bequest made by Sir George Downing, Baronet (1685–1749). The Royal Charter was issued on 22 September 1800. Sir George’s grandfather gave his name to Downing Street in London and parts of the house which he built still survive in the present number 10.

Downing College has a unique and magnificent setting amidst 20 acres of lawns and trees, yet it is within half a mile of the historic centre of Cambridge. The buildings date back to the beginning of the 19th century and are predominantly neo-classical in style conveying a sense of elegance and spaciousness enhanced by harmonious proportions, graceful columned porticos, and delicate pink and yellow stone.

Downing College, Regent Street, Cambridge CB2 1DQ, United Kingdom

Tel: +44 1223 334 800

For full travel information, please visit: www.downing-conferences-cambridge.co.uk/information/location-transport-directions/

AFJ UCD Scholarship

The Airfinance Journal Scholarship, supported by CDB Aviation offers female EU & non-EU applicants for the Msc in Aviation Finance full-time 2019/20 the chance to win a scholarship to cover half the tuition fees!

Apply: https://online.euromoney.com/afjucdscholarship

 All course applications submitted before the deadline of 1st May 2019 will be considered for this scholarship. Following assessment of the course applications and those holding Full, Unconditional Offers by 15 May 2019.  The School will then select a small short list. These candidates will then be interviewed with a view to selecting a winner by 31 May 2019.

 

 

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