Home  |  About Us   |   Be Our Speaker  |  Terms & Conditions  |  Connect With Us
Executive Education
Clariden Leadership Institute
Aircraft Acquisitions and Financing (UK)
Kenneth Gray
Norton Rose Fulbright LLP
Kenneth Gray, Norton Rose Fulbright LLP

 

  • Highly sought-after UK aviation financing expert with more than 30 years of aircraft acquisition and finance consulting experiences for aviation leaders, commercial engineers, finance and non-finance professionals
  • Voted as one of the top 20 aviation lawyers in the world by the Best of the Best Guide and one of the Hot 100 lawyers in the United Kingdom by The Lawyer Magazine
  • Clients includes Calyon, BNP Paribas, Deutsche Bank, HSH Nordbank, HBOS, Royal Bank of Scotland

 

Kenneth Gray is a highly sought-after UK aviation financing expert with more than 30 years of aircraft acquisitions and finance consulting experiences for aviation leaders, commercial engineers, finance and non-finance professionals. Kenneth is also voted as one of the top 20 aviation lawyers in the world by the Best of the Best Guide and one of the Hot 100 lawyers in the United Kingdom as voted by The Lawyer Magazine. His clients includes Calyon, BNP Paribas, Deutsche Bank, HSH Nordbank, HBOS, Royal Bank of Scotland.


Many of the transactions which Kenneth has worked on have been selected as “Deal of the Year” by trade periodicals. Some ground-breaking transactions that he is involved in include Jane’s Transport Finance “Aircraft Innovator of the Year”, and the Airfinance Journals’ deal of the year on four occasions.


Since becoming a Consultant with Norton Rose Fulbright LLP, Kenneth’s activities are focused on training the practice’s clients in the aviation industry and advising them on strategic issues (such as the impact of new sources of finance, the implementation of the Basel Accords, the ratification of the Cape Town Convention and the consequences of Brexit). In parallel to his consultancy, Kenneth has developed a successful career training on diverse issues such as Aviation Finance, Asset Finance, Structured Finance, Loan and Lease Documentation.


Kenneth has an MA from Cambridge University and has qualified as a solicitor in England and Wales and as an advocate at the Paris bar.  He is a member of the Legal Advisory Panel to the Aviation Working Group.

Program Summary

 

This comprehensive 2-day program is designed to provide you with solid financial and legal knowledge to meet the challenges of current and future aircraft acquisitions and financing needs. You will discover the latest trends in the aviation financing market today and understand how they will influence your decision-making on aircraft acquisitions and financing. You will learn to utilize powerful financial tools and strategic frameworks to understand, assess and review key content, components and structure of a lease and effective lease management skills to maximize your business advantage with minimal risk. You will also acquire knowledge on how to effectively interact with key market players to better facilitate your aircraft acquisition process. In addition, you will find out how to minimize and avoid legal risks associated to aviation financing and utilize effective legal protection rights and clauses to safe-guard your financial plans and business investments.


At the end of this program, you will leave with in-depth knowledge, valuable insights and powerful tools that allows you to make better decisions in aviation financing so as to maximize your business value and be well-protected from financial risks.

 



Programs, dates and locations are subject to change. In accordance with Clariden Global policy, we do not discriminate against any person on the basis of race, color, sex, religion, age, national or disability in admission to our programs.

Introduction

 

According to Forbes, changes in the banking industry in recent times have severely impacted the ability for buyers to finance or lease aircrafts. Besides financing ability, other complexities involved in considering an aircraft acquisition include regulatory, operational and legal issues. Neglecting any of the above aspects can result in considerable expenses and loss. Therefore, it is important for you to have a sound aircraft acquisitions and financing strategy to ensure good investment selections and be well-protected from financial risks.


However, many organizations lack understanding and analysis of the factors influencing decision-making on aircraft acquisitions and financing. They are unaware of the market trends of aviation acquisition business, financial impacts and legal risks. Many highlighted the difficulty in assessing and choosing the right financing methods for aircraft acquisitions and aviation financing planning. They also admitted that they have poor understanding of the content, components and structure of a well-protected leasing agreement.


Without in-depth knowledge, strategic planning and effective financial tools and application techniques to plan, assess and execute your aircraft financing strategy, organizations may face increased financial costs, high asset risks and poor investment and business returns.


Designed for professionals involved in aviation financing, this comprehensive 2-day program is designed to provide you with solid financial and legal knowledge to meet the challenges of current and future aircraft acquisition and financing needs.

 

Led by Kenneth Gray, a highly sought-after UK aviation financing expert with more than 30 years of aircraft acquisition and finance consulting experiences for aviation leaders, commercial engineers, finance and non-finance professionals, he will provide you with strategic perspectives of the latest trends in the aviation financing market today and how they will influence your decision-making on aircraft acquisitions and financing. You will learn to utilize powerful financial tools and strategic frameworks to understand, assess and review key content, components and structure of a lease and effective lease management skills to maximize your business advantage with minimal risk. You will also acquire knowledge on how to effectively interact with key market players to better facilitate your aircraft acquisition process. In addition, you will find out how to minimize and avoid legal risks associated to aviation financing and utilize effective legal protection rights and clauses to safe-guard your financial plans and business investments.

Packed with real-life case studies and interactive discussion sessions, you will leave this program with in-depth knowledge, valuable insights and powerful tools that allows you to make better decision in aviation financing so as to maximize your business value and be well-protected from financial risks.

 

What You Can Expect

 

•    EXAMINE the state of the aviation financing market today and the latest trends to create a sound aircraft acquisition and financing strategy
•    MAP AND ANALYZE the key principal market players and their dynamics in aircraft financing
•    GAIN effective lease management skills and knowledge on the different types of aircraft lease classification to decide on the right financing method for your aircraft acquisitions
•    UNDERSTAND, ASSESS AND REVIEW the key content, components and structure of a lease document to safe-guard your financial plans and business investments
•    MAXIMIZE your business advantage and minimize your disadvantages with the use of different leases
•    UTILIZE financial tools effectively to enhance your aviation financing planning
•    MINIMIZE AND AVOID legal risks associated to aviation financing and utilize effective mitigation strategies

 

Who Will Benefit Most

 

This program is design for, but not limited to:
•    Airline professionals involved in finance, fleet planning or aircraft trading
•    Manufacturer commercial executives seeking insight into airline financing trends and prospects
•    Aerospace engineers and technical specialists who are moving into a commercial role within their company
•    Bankers, lessors, advisors and lawyers new to the field of aircraft financing
•    Government policy makers and regulators, seeking insights to aircraft leasing and financing

 

Program Outline

 

DAY 1


Introduction to aircraft finance
•    The state of the markets today
•    What makes aircraft finance so different?
•    Where is liquidity coming from?
•    The increase in the operating lease market


Who are the different players in the market and what are their roles?
•    Financial institutions
•    The capital markets
•    Operating lessors
•    Scheduled and charter airlines
•    Manufacturers


Introduction to common financing tools
•    Secured loans
•    Operating and finance leases
•    Islamic leases
•    Residual value guarantees
•    The EETC and other capital market structures
•    The JOLCO and other tax leases
•    Export credits
•    EETC and JOLCOs


Looking at optimised transactions combining different tools
•    Export credits and JOLCOs
•    Export Credits and Sukuk
•    EETC and JOLCOs


Overview of the basic legal documentation
•    Purchase agreement
•    Loan, lease, mortgage
•    Assignment of lease
•    Assignment of insurances


Ownership, different types of leases and similar instruments
•    Operating leases and finance leases
•    Hire purchase agreements
•    Sale and leasebacks
•    Tax leases


Registration of Aircraft
•    The Chicago Convention on International Civil Aviation
•    Why does it matter where aircraft are registered?

CASE STUDY: Kingfisher and SpiceJet – Trying to deregister aircraft in India


Overview of the contents of a lease
•    Why the different clauses are there and what they seek to achieve?
Covenants and conditions precedent
•    Examination of those that are specific to aircraft finance transactions


Third party liens
•    Eurocontrol, airports, taxes and salaries
•    The EU Emissions Trading System
•    Protecting yourself

CASE STUDY: The Eurocontrol lien – how a lessor lost its aircraft


Maintenance
•    How are aircraft maintained
•    Maintenance reserves: what they are and how they are calculated


Engine Rotation
•    Moving engines from airframe to airframe
•    Resolving the concerns of the parties


Return Conditions
•    Negotiating the schedule
•    What remedies are there for noncompliance?

CASE STUDY: Pindell vs Asia: What happens when the there is a delay in the redelivery of an aircraft?

 

DAY 2


Security
•    Why do lenders need security and what are the common concerns?
•    Mortgages and other types of security
•    The impact of bank regulation
•    A comparison of aircraft mortgages in different jurisdictions


The Cape Town Convention
•    To what it applies
•    Global Implementation
•    Guaranteed remedies
•    What are its practical consequences
•    Where are we now?
CASE STUDY:
The enforcement of the Cape Town Convention.  We will look at various instances in which the Cape Town Convention has come into play


Export credits
•    What are export credit agencies, what support do they give and what are their requirements in aircraft finance transactions?
•    The Aircraft Sector Understanding
•    Using capital markets and sukuks


Capital Markets
•    Securitising an operating lease portfolio
•    Pass-through certificates
•    Private placements
•    EETCs
•    ECA Wraps
•    Sukuks
CASE STUDY:
The UKEF backed Sukuk for Emirates:  how it was put together


Tax Leases
•    The global tax lease market today
•    What they are and how they work
•    Cost and allocation of risk
•    JOLCOs
CASE STUDY:
The Yen-denominated EETC/JOLCO for Turkish Airlines: how it was put together


Pre-delivery payment facilities
•    How to structure a PDP facility
•    What security is available for lenders to a PDP facility?
•    Clawback

CFOs Leadership :
Experience Clariden
Discover how our leadership program has shaped the perspectives of CFOs across Asia
 
Venue: Conrad London St James
Date: 26 - 27 Apr 2017
Faculty: Kenneth Gray
Early Bird 1: £1,895 (by 1 Mar 2017)
Early Bird 2: £2,095 (by 29 Mar 2017)
Regular Fee: £2,195
Group Discount: 2nd participant get 10%, or register 3 participants and 4th participant get a complimentary seat
(1 discount scheme applies)
Contact: stefanie@claridenglobal.org
 
 
More Programs
Procurement Audit (SG)
- Ted Landgraf
Higher Education - Developing Scorecards, Dashboards and KPIs to Set Strategic Priorities and Drive Performance (SG)
- Alan Fell
Masters in International Project Management [MIPM] (SG)
- Matthew Harrison
Tax Efficient Transfer Pricing and Intra-group Financing (US)
- Matthew Andrew
Reinventing Organizational Design and Structure: Optimizing Strategy, People, Processes, Accountabilities and Functions (Sydney)
- Paul Gustavson
View All Programs >
 
 
   
Home | About Us | Be Our Speaker | Press Release | Terms & Conditions | Connect With Us
Copyright © 2011 Clariden Global, all rights reserved.