Airfinance Journal China School 2019

11-12 June 2019

The St. Regis Shanghai Jingan

Shanghai, China

  • Sponsors >

  • BNP Paribas
    Course Leader

Event Overview

We are proud to announce the launch of our renowned aviation finance school series in China. Since 2004, we have trained over 600 professionals and many are now running their own divisions and companies.

The Inaugural Airfinance Journal China School will take place on 11-12 June and will be followed by the Airfinance Journal China 2019 on 13-14 June at the St. Regis Shanghai Jingan.

In the inaugural China School, we will bring together over 15 senior industry professionals to share valuable market updates and equip participants with practical knowledge across spectrums of aviation finance and leasing. During the two-day training, curriculum will cover but not limited to aircraft valuation methodologies, risk management in aircraft financing, fleet management tactics and equity performance assessment. This intensive course is designed for aviation new joiners who wish to gain familiarity with the industry quickly or professionals who hope to refresh existing knowledge.

What you'll learn:

  • Fundamentals of aircraft financing 
  • Risk management for lessors 
  • Aircraft maintenance costs  
  • How do lessors choose a tax efficient jurisdiction for aircraft leasing
  • Understanding residual values 

      


 

 

 

 

 

Airfinance Week China 2019

11 - 12 June | Airfinance Journal China School 2019
13 - 14 June | Airfinance Journal China 2019
13 June | Airfinance Journal China Awards 2018

Contact us

Sponsorship: Kenneth Yu, kenneth.yu@airfinancejournal.com
Speaking opportunity: Yvonne Kwok, yvonne.kwok@airfinancejournal.com
Registrations: Charis Kwok, charis.kwok@airfinancejournal.com
Logistics: Louisa Kung, louisa.kung@airfinancejournal.com

Agenda

08 00 AM Registration
08 50 AM Welcoming remarks by Airfinance Journal
09 00 AM Overview of aircraft financing market
  • Characteristics of airline industry
  • Financing menu for airlines and lessors
  • PDP financing
  • Major financing tools: commercial loan, bond market, ECA, tax lease
  • Lune Wang, Director And Deputy General Manager, Comsys (Tianjin) Leasing Company
09 40 AM Risk management for lessors
  • Risk management framework
  • Asset risk
  • Airline credit risk and evaluation
  • Balance between risk & return
  • Liability risk
  • Jurisdictional risk and repossession considerations
  • Andrew Weixi, Executive Director, Aviation Leasing Department, CMB FINANCIAL LEASING (IRELAND) LTD
10 20 AM Airline strategy and management
  • Evolving airline business models
  • How do airlines’ business models affect the selection of aircraft?
  • Key considerations for leasing vs buying
  • Gaining competitiveness through mergers and acquisitions
  • David Yu, Managing Director and Chief Investment Officer, Inception Aviation Holdings
11 00 AM Networking break
11 30 AM Remarketing of aircraft
  • Asset management strategies for airlines and lessors
  • Remarket procedures, documentation and records
  • Negotiation management
  • Single vs portfolio asset remarketing
  • Case studies
  • Remarketing challenges in 2019
  • Vincent Lam, SVP Asia Pacific – Aircraft Remarketing, Air Partner
12 10 PM End of life solution for aircraft
  • Key drivers of aircraft retirement
  • Average aircraft retirement age by models
  • Comparison of major disassembly locations around the world
  • Part out cost by aircraft models
12 50 PM Lunch
14 00 PM Understanding the engine as an asset class
  • The engine leasing market
  • The business model
  • The importance of engine maintenance
  • Residual values and exit strategies
  • The engine OEMs in the aftermarket
14 40 PM How do lessors choose a tax efficient jurisdiction for aircraft leasing
  • Latest developments in tax treaties
  • Evolving tax regimes of tax efficient jurisdictions
  • Key considerations for choosing a tax efficient jurisdiction for registration
  • Typical structures of the transactions
  • Taxation in cross-border leasing
  • Pieter Burger, Partner, Financial Services Tax, Deloitte Ireland LLP
15 20 PM Cape Town Convention
  • What is Cape Town Convention
  • Cape Town Convention’ advantages to aircraft financiers, lessors and airlines
  • Insolvencies and default remedies
  • How has it evolved over the last decade?
16 00 PM Networking coffee break
16 30 PM The application of PRC bankruptcy law in aircraft financing and leasing in China
  • Will a default ever happen in China?
  • Lessors’ and lessees’ rights
  • Liability – lessors vs. lessees
  • Termination of lease term and dispute resolution
  • Yi Liu, Partner, Rui Bai Law Firm
17 10 PM Dispute resolutions
  • What is a dispute?
  • Documenting dispute resolution procedures
  • Choice of governing law
  • Resolving disputes
  • Enforcing securities
  • Cape town treaties and repossession
  • Recent case study
17 50 PM End of day one
08 30 AM Registration
08 50 AM Introduction by course leader
  • Welcoming note
  • The airline industry today
  • Key drivers of air transport
  • Pierre Briens, Managing Director, Head of Aviation, Transportation Sector, Investment Banking Asia Pacific, BNP Paribas
09 20 AM Managing the risks in aircraft financing
  • Credit risk: Assessing the solvability of an airline to meet its LT debt and lease obligations
  • Asset risk: Understanding liquidity, life cycles and market values of aircraft and engines
  • Structural risks: Getting LTV, security package and structural cash flows right
  • Repossession & remarketing risk: Legal & practical considerations
10 00 AM A focus on commercial debt: The core option for most airlines & lessors
  • Financing menu for airlines and lessors
  • Secured vs unsecured debt
  • Financing airlines vs lessors
  • Single aircraft vs portfolios
  • Managing contingent currency and interest rate risk
  • PDP financing
10 40 AM Networking coffee break
11 00 AM Debt capital markets
  • Transaction, private vs public placements
  • Senior unsecured and secured notes
  • ABS and EETCs
  • ECA guaranteed bonds
  • Andy Lai, Managing Director, Head of Origination and Structuring, Asset Finance and Securitisation, Asia Pacific, BNP Paribas
11 30 AM Derivatives for the aviation industry
  • Interest rate risk: Fixed vs floating
  • Fuel price volatility
  • Currency risk
12 00 PM Japanese operating lease with call option
  • JOLCO fundamentals
  • Key considerations
  • NK vs TK investors
  • What will happen tomorrow?
  • Norio Besshi, Director, Optimization, Structured Leasing & Transportation, BNP Paribas
12 30 PM Lunch
13 50 PM Case Study: Bidding on an airline’s RFP

This is an interactive case study inspired by real cases. Guided by the speakers, the audience will be split into groups to make a bid and win an airline RFP.
The objective of the Case Study is to put the participants in an Aviation Banker’s shoes during the entire RFP process with an airline. In order to win the mandate, each team will have to juggle with the requirements imposed by airline on the transaction structure, their internal constrains and the competition.

15 20 PM Networking break
15 40 PM Distribution of aviation assets to the bank and fixed income markets
  • Reason for distributing aviation assets
  • Finding liquidity and matching it with the appropriate risk profile
  • Recent dynamics on the loan market
16 20 PM M&A and IPOs in the aviation sector
  • Types of M&A deals
  • Common tension points between buyers and sellers
  • Why do airlines IPOs
  • Typical valuation methods
  • Sylvain Magne, Managing Director, Head of Advisory and Capital Markets, Transportation & Infrastructure Sector, Investment Banking Asia Pacific, BNP Paribas
17 00 PM End of day two

Speakers

Lune Wang

Director And Deputy General Manager

Comsys (Tianjin) Leasing Company

Andrew Weixi

Executive Director, Aviation Leasing Department

CMB FINANCIAL LEASING (IRELAND) LTD

David Yu

Managing Director and Chief Investment Officer

Inception Aviation Holdings

Pieter Burger

Partner, Financial Services Tax

Deloitte Ireland LLP

Yi Liu

Partner

Rui Bai Law Firm

Jackson Chow

Partner

Berwin Leighton Paisner LLP

Paul Ng

Partner

Milbank

Andy Lai

Managing Director, Head of Origination and Structuring, Asset Finance and Securitisation, Asia Pacific

BNP Paribas

Pierre Briens

Managing Director, Head of Aviation, Transportation Sector, Investment Banking Asia Pacific

BNP Paribas

Norio Besshi

Director, Optimization, Structured Leasing & Transportation

BNP Paribas

Sylvain Magne

Managing Director, Head of Advisory and Capital Markets, Transportation & Infrastructure Sector, Investment Banking Asia Pacific

BNP Paribas

Vincent Lam

SVP Asia Pacific – Aircraft Remarketing

Air Partner

Sponsors

Attracting thousands of participants annually from airlines, leasing companies, financial institutions, investment houses and government bodies, our events provide you with an unparalleled platform from which to promote your organisation’s brand, products and services.

Find out more about our sponsorship opportunities

Course Leader

BNP Paribas

BNP Paribas

BNP Paribas is a leading bank in Europe with an international reach. It has a presence in 73 markets, with more than 198,000 employees. The Group has key positions in its three main activities: Domestic Markets in Europe, International Financial Services and Corporate & Institutional Banking.
 
In Asia Pacific, BNP Paribas is one of the best-positioned international financial institutions with an uninterrupted presence since 1860. Currently with over 17,000 employees* and a presence in 14 markets, BNP Paribas provides corporates, institutional and private investors with product and service solutions tailored to their specific needs. It offers a wide range of financial services covering corporate & institutional banking, wealth management, asset management, insurance, as well as retail banking and consumer financing through strategic partnerships.

Website: http://www.bnpparibas.co.uk/en/


Venue

The St. Regis Shanghai Jingan

1008 Beijing West Road,
Shanghai,
CN

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