Aviation Finance Finuas Logo

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Cost: €2,080

Location: Dublin/Online

Start Date: 3-02-2016 End Date: 11-06-2016

 

Programme Overview

Historically, Ireland has strong links with the aviation industry. Dublin is the hub of the aircraft leasing industry, with many of the aircraft leasing companies having their operations here. More than 3,400 aircraft are leased out of Dublin, and the sector contributes over €300 million in corporation tax to the exchequer each year.

This diploma provides comprehensive coverage of the key aspects of the aviation and finance leasing industry and most importantly the legal considerations for each topic and the relevant law. There is an emphasis on both the theoretical but also the practical. The lecturers and tutors are of the highest calibre with years of experience in the industry.

Programme Objectives

To provide the student with the following:

 

  •  an enhanced knowledge and in-depth understanding of the aviation industry in Ireland and internationally

 

  • an ability to interpret correctly the implications of a wide range of legal documentation in order to flag the key concerns of an airline, leasing company and/or a financier in 2016 agreements

 

  • a comprehensive knowledge of the key negotiation points raised by parties in the aviation current market

 

  • an enhanced knowledge of judicial decisions and legislative and procedural developments in aircraft leasing and finance transactions

 

  • an ability to draft key clauses in aviation legal agreements

 

  • an opportunity to consolidate their knowledge through practical problem questions in the workshops.

Target Audience

The Diploma is aimed at legal professionals and other professional working in aviation law in legal practices, in aircraft leasing companies, in banks and financial institutions that fund the purchase of aircraft, those working for aircraft manufacturers, in the aviation insurance industry, for airlines or anyone working in the aviation sector in general.

Programme Content

Module 1: Purchase and delivery of aircraft
Key aspects of a purchase and a delivery of an aircraft. Aircraft operating leases and issues raised by a lessor and lessee.

 

Module 2: Aviation Finance
Commercial debt financing, capital market structures and pre-delivery payment financing; Export Credit Agencies and the function of the Export–Import Bank (US).   

 

Module 3: Registration of Aircraft, Engine Leasing and Maintenance Reserves.
Registration of an aircraft and aircraft documents, engine leasing and aircraft maintenance

in operating leases.

 

Module 4: Taxation, Insurance and Regulatory Issues
Tax and leasing transactions, insurance provisions in an aircraft operating lease, the impact of the Chicago Convention, 1944 and the Cape Town Convention.

Module 5: Aircraft Repossession and Recovery
Seminal cases and practical issues in relation to aircraft repossession and recovery.

Trainer Profile Qualification & Relevant Experience 

The Law Society of Ireland  www.lawsociety.ie

There are approximately 40 lecturers engaged to deliver lectures and practical workshops throughout the course (please see timetable attached). All are either lawyers or professionals in the aviation sector and are considered experts in their field.  There is a mix of lecturers with many working in Irish companies, but many also in the UK and the US. Here is an sample of some of the lecturers and their qualifications:

 

Ken Rush,  Walkers,  Head of Aviation

Ken Rush is Head of the Walkers Ireland Asset & Aviation Finance Group, where he specialises in all aspects of asset finance and leasing with a focus on the financing and leasing of aircraft, aircraft engines, helicopters and other heavy transportation assets (such as rolling stock and vessels). Ken has extensive experience with:  establishment of aircraft, aircraft engines and helicopter leasing platforms in Ireland;  Pre-delivery payments financing;  Export Credit Agency supported financings (including, ECGD, COFACE, HERMES, US EX-IM, CEXIM, EDC and BNDES);  financing and/or leasing of aviation assets through Irish special purpose vehicles (including orphan and lease-in lease-out structures), operating and finance leasing of aviation assets, acquisition and disposal of aviation assets, The Cape Town Convention , asset and receivables backed financings joint venture financings and tax enhanced structured financings; and general banking and finance transactions, including secured and unsecured bilateral and syndicated lending, limited recourse financings and structured and leveraged financings. Ken's clients include aircraft owners, arrangers, airlines, asset financiers and lessors. Ken lectures on several aviation third level and professional courses and is a regular contributor to aviation industry journals and conferences.

 

Catherine Deane, McCann Fitzgerald, Partner in Aviation

Catherine specialises in aircraft transactions and acts for many leading aircraft lessors, lenders and arrangers on all aspects of aircraft financing and leasing.  These include secured lending, portfolio securitisation, portfolio acquisitions and disposals, cross-border leasing

transactions and the establishment of complex acquisitions and financing structures and operations in Ireland. She and her team have led and managed countless large-scale asset financing transactions. She advises a wide range of aircraft lessors in connection with the reorganisation of substantial parts of their businesses and fleets of aircraft as well as on all aspects of registration of aircraft on the Irish register, operating aircraft in Ireland and establishing aircraft facilities in Ireland.  She also advises in relation to the establishment and operation of aviation joint ventures and aircraft ownership and leasing platforms in Ireland, the acquisition and disposal of aircraft leasing companies and also in relation to aircraft repossessions.

Recent Directory Comments

Catherine Deane is ranked as a ‘Leading Individual’.  The Legal 500, 2015 (& 2014)

Catherine Deane excels in aviation finance, and sources say she is "very commercial – she works very hard and gets the deal done."  Chambers Europe, 2015

Leading aviation finance practitioner Catherine Deane "strikes a great balance between legal acumen and industry knowledge. She has the ability to close a transaction," according to sources.  Chambers, 2014

Ranked as a ‘Leading Individual’, considered “one of the most effective transactional lawyers in the industry.”  The Legal 500, 2013

Catherine Deane is widely regarded as an authority on aviation finance, advising lessors, lenders and arrangers on all aspects of aircraft financing.  Clients admire her "superb technical skills."  Chambers, 2013

Catherine Deane is widely regarded as one of the finest aviation and asset financing lawyers in the market. Clients greatly value her input, saying: “She carries a tangible credibility into her negotiations. She has a huge understanding of the industry and great contacts."  Chambers, 2012

 

Dick Forsberg, Avolon, Head of Strategy

Dick Forsberg has over  40 years aviation industry experience, working in a variety of roles with airlines, operating lessors, arrangers and capital providers in disciplines of business strategy, industry analysis and forecasting, asset valuation, portfolio risk management and airline credit assessment. As a founding executive and Head of Strategy at Avolon, his responsibilities include defining the trading cycle of the business, primary interface with the aircraft appraisal and valuation community, setting portfolio risk management criteria.  Prior to Avolon Dick was a founding executive at RBS Aviation Capital and previously worked with GPA following a 20-year career in the UK airline industry.  Dick is a member of the Royal Aeronautical Society and also a Board of Director of ISTAT (The International Society of Transport Aircraft Trading).

 

Robert F.X.Roy, Vice President of the Export-Import Bank of the USA

Robert F. X. Roy a native of Massachusetts began his career in public accounting. He came to Ex-Im Bank in 1990. In 1994, Roy volunteered to help create Ex-Im Bank’s Aircraft Finance Division. As the only remaining original member of the Aircraft Finance Division, which has become today's Transportation Division, he brings over twenty years of aircraft finance experience to his new role as Vice President. Prior to assuming his new role as Vice President, Roy was the Deputy Vice President of the Transportation Division. In 2008, he was awarded the agency's highest honour, the Chairman's Award, for long-term excellence and professionalism. He has personally underwritten transactions totalling approximately $20 billion for foreign airlines and operating lessors in support of the export of U.S. manufactured aircraft. In addition to his transaction work, Roy has supervised and mentored a group of highly qualified aviation finance professionals. Over his career, Roy worked on a number of transactions that were recognized by the aviation finance industry with Deal of the Year awards

 

Victoria Koob, Senior Associate Aviation, Freshfields

Victoria is a senior associate in the energy, transport and infrastructure practice, based in London. She was previously based in Australia and is qualified to practice law in New South Wales, Australia. Victoria has a broad range of finance experience including advising on cross border asset finance and leasing structures and has a particular emphasis on aviation transactions.  Victoria has represented leasing companies, international financial institutions and airlines in a broad range of transactions including export credit-supported financings, multi-aircraft portfolios, leasing and PDP facilities. Victoria has advised on the acquisition of aircraft and the termination of various tax structures vessel leasing arrangements.

Victoria was named a ‘rising star’ in aviation finance law by Air Finance Journal and featured in the September issue of the magazine’s Lawyers Guide supplement.

Other lecturers include:

  • Donna Ager, Maples and Calder
  • Jan Bosak, Elix Aviation Capital
  • Paul Brady, Aer Lingus
  • Paul Carrington, Clifford Chance LLP
  • Patrick Farrell, Norton Rose Fulbright LLP
  • Nikki Foley, A&L Goodbody
  • Richard Goss, Hogan Lovells International LLP
  • Gavin Hill, Vedder Price
  • William Johnston, Arthur Cox
  • Stuart Kennedy, Matheson
  • Russell King, Milbank, Tweed, Handley & McCloy LLP
  • David Maughan, William Fry
  • Kieran Oliver, Shannon Engine Support

 

Skillnets funded from the National Training Fund through the Department of Education and Skills

The Aviation Finance Finuas Network is funded by member companies and the Finuas Networks Programme, an initiative of Skillnets funded from the National Training Fund through the Department of Education and Skills.

Click here for Finuas Network website www.finuas.ie

 


 

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