The Aviation Investival New York

Oct 16 - Oct 17, 2019

The Stewart Hotel, United States

Ishka's Aviation Investival North America is gearing up to take over The Stewart Hotel on 16th – 17th October 2019.

With 5 stages of specialised content, 50+ incredible speakers, and even more interactive sessions, join us in New York to gain fresh perspective and inspiration from the industry’s innovators and top thought leaders.

Meet the industry's crème de la crème including

Steven Udvar Hazy, Chairman, Air Lease Corporation
Tim Myers, President, Boeing Capital

Elena Serdyuk, Director, New York Life Investors

The Aviation Investival is THE go-to place build relationships and explore funding opportunities with over 90 institutional investors from across the Americas. Register your place today.

FOCUSED CONTENT

FIVE STREAMS: The Aviation Investival boasts five content tracks, including a dedicated stream for the North American Capital Market, Wider Markets, Debt stage, Equity Stage and an investor speed dating stream, giving you the freedom to curate a personalised agenda relevant to your needs.

DAY TWO: INVESTOR MASTERCLASS Taking place on Thursday 17th October, Ishka’s dedicated investor workshop is designed to challenge a lack of transparency in the sector head on, and is focused around the educational needs of the more sophisticated North American investors looking to understand the biggest risks impacting investments in the aviation space including; airline defaults, ABS maintenance modelling, which assets are maintenance payers and appraisal values holding up.

NEW IN 2019!

INVESTOR SPEED DATING: Looking to strike up new working relationships at the conference? Take part in our 10 minute speed dating rounds bringing issuers together with carefully selected investors.

INDUSTRY ALL-PLAY: THE ROULETTE RACE Go head-to-head in small groups, answering timely and topical questions on the technical, commercial and strategic, issues and opportunities facing the industry.

ADVANCED INVESTOR WORKSHOP Challenging the lack of transparency in the sector head on, this technical workshop is tailored to sophisticated North American investors looking to understand the biggest risks impacting investments in the aviation space.

KEYNOTE: A CONVERSATION WITH BOEING Hear from Tim Myers, President of Boeing Capital on where the aviation finance market is today, analysing the strength of the US airline market, recent innovations and the regulatory environment.

INSTITUTIONAL INVESTORS ATTENDING #ISHKANYC INCLUDE:

	Plenary	Wider Market	Debt stream	Equity stream
08:15	More information CIRM Breakfast Briefing: Hedging to reduce your cost of funds and increase your profit margins Learn the basics of preserving and increasing your yield through hedging your cost of funds. This session will simplify and demystify the basic interest rate derivatives used in the aircraft financing space. In the process, you’ll gain a better understanding of effective hedge strategies, current market conditions, and an update on LIBOR transition. Main room 08:15 Main room CIRM Breakfast Briefing: Hedging to reduce your cost of funds and increase your profit margins × Learn the basics of preserving and increasing your yield through hedging your cost of funds. This session will simplify and demystify the basic interest rate derivatives used in the aircraft financing space. In the process, you’ll gain a better understanding of effective hedge strategies, current market conditions, and an update on LIBOR transition. Laurie Sartain Director The Corporation for Interest Rate Management Christina Ochs President The Corporation for Interest Rate Management Next session: The current state of play for the aviation financing market
09:05	Ishka Welcome Main room 09:05 Main room Ishka Welcome × Next session: The current state of play for the aviation financing market Previous session: CIRM Breakfast Briefing: Hedging to reduce your cost of funds and increase your profit margins
09:15	More information The current state of play for the aviation financing market Tim Myers, President of Boeing Capital gives his view on where the aviation finance market is today, including weathering a downturn, the strength of the US airline market, recent innovations and the regulatory environment. Main room 09:15 Main room The current state of play for the aviation financing market × Tim Myers, President of Boeing Capital gives his view on where the aviation finance market is today, including weathering a downturn, the strength of the US airline market, recent innovations and the regulatory environment. Timothy Myers President Boeing Capital Corporation Next session: The Ishka Gameshow Previous session: CIRM Breakfast Briefing: Hedging to reduce your cost of funds and increase your profit margins
09:45	More information The Ishka Gameshow Industry heavyweights discuss this year’s hottest issues, stories and innovations in the US aviation finance market. Pride is the prize and the audience is the winner. Main room 09:45 Main room The Ishka Gameshow × Industry heavyweights discuss this year’s hottest issues, stories and innovations in the US aviation finance market. Pride is the prize and the audience is the winner. Steven Udvar-Hazy Chairman Air Lease Corporation Mark Streeter Managing Director, Airline/Aircraft Credit Research J.P. Morgan Donal Boylan Board Of Directors VietJet Air Fraser Chestney Senior Vice President Magi Aviation Capital Bob Bengtson Vice President, Credit Products Group Goldman Sachs James Meyler CEO HK Orix Aviation Gerry Butler Managing Director Merx Aviation Finance Next session: Keynote investor panel: Ask me anything Previous session: CIRM Breakfast Briefing: Hedging to reduce your cost of funds and increase your profit margins
10:30	Break Main room 10:30 Main room Break × Next session: Keynote investor panel: Ask me anything Previous session: CIRM Breakfast Briefing: Hedging to reduce your cost of funds and increase your profit margins
11:15	More information Keynote investor panel: Ask me anything Do you have a question for our investor panel? After a short Q&A delegates will be leading the discussion by asking questions using Slido and roaming mics: How esoteric do US investors view aviation as versus comparative asset classes? Are investors concerned by thinning spreads in the deals? What asset types are the sweet spot for investors? Main room 11:15 Main room Keynote investor panel: Ask me anything × Do you have a question for our investor panel? After a short Q&A delegates will be leading the discussion by asking questions using Slido and roaming mics: How esoteric do US investors view aviation as versus comparative asset classes? Are investors concerned by thinning spreads in the deals? What asset types are the sweet spot for investors? John Beekman Fixed Income Analyst Fidelity Management & Research Andrew Kleeman Managing Director SunLife Investments Wesley Trowbridge Vice President T. Rowe Price Elena Serdyuk Director New York Life Investors Radha Tilton MD Goldman Sachs Next session: Ishka’s Crunch before lunch! Previous session: CIRM Breakfast Briefing: Hedging to reduce your cost of funds and increase your profit margins
12:00	More information Ishka’s Crunch before lunch! Your opportunity to join a series of fast-paced, roundtable-style discussions, focused on the core challenges and trends impacting the sector now. Main room 12:00 Main room Ishka’s Crunch before lunch! × Your opportunity to join a series of fast-paced, roundtable-style discussions, focused on the core challenges and trends impacting the sector now. Patrick den Elzen Managing Director Arena Aviation Capital Richard Munden Partner Carey Olsen Ardy Ghanbar Aviation CFO Castlelake Peter Friedman Deputy Head, Investment Promotion InvestHK Next session: Keynote airline panel: Encouraging more innovation in market structures Previous session: CIRM Breakfast Briefing: Hedging to reduce your cost of funds and increase your profit margins
12:45	Lunch Main room 12:45 Main room Lunch × Next session: Keynote airline panel: Encouraging more innovation in market structures Previous session: CIRM Breakfast Briefing: Hedging to reduce your cost of funds and increase your profit margins
14:00	More information Keynote airline panel: Encouraging more innovation in market structures What are potential innovations in the EETC market? Pre-payments, aircraft substitutions etc Evaluating airline appetite for transactions with Japanese investors Will the A220 be core to all US airlines’ fleet in the next ten years? Main room 14:00 Main room Keynote airline panel: Encouraging more innovation in market structures × What are potential innovations in the EETC market? Pre-payments, aircraft substitutions etc Evaluating airline appetite for transactions with Japanese investors Will the A220 be core to all US airlines’ fleet in the next ten years? Kevin Hawkins Director – Capital Markets Delta Air Lines Previous session: CIRM Breakfast Briefing: Hedging to reduce your cost of funds and increase your profit margins
	Capital Markets		Wider Market
14:30	More information Investor opportunity constraints; where are the assets? Which assets hit the ‘sweet spot’ for investors looking for returns,... Main room 14:30 Main room Investor opportunity constraints; where are the assets? × Which assets hit the ‘sweet spot’ for investors looking for returns, and where have these assets gone? What other aviation asset types should investors be looking at? Assessing the availability of excess funds on returns David Andrews Managing Partner Hudson Structured Capital Management Damon D'Agostino President & CEO Zephyrus Aviation Capital Nate Riggs SVP Commerical Aergo Capital Ed Connolly SVP Capital Markets Engine Lease Finance Corporation (ELFC) Christian Wolff Director Helaba (Landesbank Hessen-Thueringen) Bryson Monteleone Senior Advisor \| Aviation Finance Advisory Services PricewaterhouseCoopers ( PwC ) Next session: How real is the tradable e-note market?		More information What is the real impact of the MAX grounding for investors? Understanding the Boeing 737 MAX grounding’s impact on new and used ... Room 2 14:30 Room 2 What is the real impact of the MAX grounding for investors? × Understanding the Boeing 737 MAX grounding’s impact on new and used narrowbody aircraft leasing and residuals. Will some issuers’ preference for current gen aircraft continue? Are ESG bonds with new tech aircraft important for US investors? What are the expected returns for older aircraft? How do they compare to neos/MAX’s? Richard Hakes Partner, Head of London Aviation Reed Smith John Luth Chairman, President & CEO Seabury Consulting now part of accenture Addison Schonland Founder & Partner AirInsight Steve Mason Senior Vice President Avolon Karl Griffin Chief Commercial & Investment Officer Genesis Aircraft Services Doug Winter Chief Commercial Officer Aircastle
	Capital Markets
15:00	More information How real is the tradable e-note market? What is the depth of the market for e-note trades?Why are lessors still hesitant... Main room 15:00 Main room How real is the tradable e-note market? × What is the depth of the market for e-note trades? Why are lessors still hesitant to trust the market? Depth, requirement for certainty etc Exploring how to inject liquidity into the market; ‘trace’ fees, transparency, depth of secondary market Kumar Velayudham Managing Director Oz Management Joe O'Mara Tax Partner KPMG Will Eustis Managing Director Wells Fargo Securities, LLC Daniel Krup Managing Director Beach Point Capital Richard Barnett Managing Director Castlelake Shirley Lu Assistant Vice President Air Lease Corporation Previous session: Investor opportunity constraints; where are the assets?
15:30	Break Main room 15:30 Main room Break × Previous session: CIRM Breakfast Briefing: Hedging to reduce your cost of funds and increase your profit margins
	Debt stream	Equity stream		Investor speed dating
16:00	More information Will the ABS market be around in the same size in the next two years? Are the debt markets late cycle?What causes large variances in ABS forecasts, pa... Main room 16:00 Main room Will the ABS market be around in the same size in the next two years? × Are the debt markets late cycle? What causes large variances in ABS forecasts, particularly in midlife assets? Can investors trust ABS appraisers who have been hired by banks or lessors? Yevgeniya Levitin Managing Director Natixis Ronan Murphy Director Merx Aviation Finance Bob Bengtson Vice President, Credit Products Group Goldman Sachs Kevin MacLeod Shareholder Vedder Price Richard Barnett Managing Director Castlelake	More information How dynamic is the Japanese equity market? Exploring innovations in the JOL/JOLCO market, and how deep the market is; JOLCO... Room 2 16:00 Room 2 How dynamic is the Japanese equity market? × Exploring innovations in the JOL/JOLCO market, and how deep the market is; JOLCO + ABS, JOLCO + AFIC, JP Lease Succession planning: is Japan a demographically unique spot? Expanding JOL asset horizons; what assets are JOL investors looking at? Gary Fitzgerald CEO Stratos Ali Ben Lmadani CEO ABL Aviation Teiji Ishikawa CEO JP Lease Products and Services John Wikoff Senior Executive Director FPG AIM		More information Investor Speed Dating Looking to strike up working relationships on the day?Pre-book your spot and tak... Room 3 16:00 Room 3 Investor Speed Dating × Looking to strike up working relationships on the day? Pre-book your spot and take part in 10-minute speed dating rounds with each of our carefully selected investors, moving from one to the next as the bell rings.
	Debt stream		Equity stream
16:30	The Ishka Debate: “This house believes thinning spreads will reduce investor dem... Main room 16:30 Main room The Ishka Debate: “This house believes thinning spreads will reduce investor demand for aviation and hinder the growth of lessors”. Do you agree? × Mark Streeter Managing Director, Airline/Aircraft Credit Research J.P. Morgan Previous session: Will the ABS market be around in the same size in the next two years?		The Ishka Debate: “This house believes public equity opportunities offer better ... Room 2 16:30 Room 2 The Ishka Debate: “This house believes public equity opportunities offer better relative value than private equity.” Do you agree? × Previous session: How dynamic is the Japanese equity market?
17:00	Ishka awards Best American Airline followed by short Q&A Main room 17:00 Main room Ishka awards Best American Airline followed by short Q&A × Previous session: CIRM Breakfast Briefing: Hedging to reduce your cost of funds and increase your profit margins
17:10	Conference after-party and networking drinks Main room 17:10 Main room Conference after-party and networking drinks × Previous session: CIRM Breakfast Briefing: Hedging to reduce your cost of funds and increase your profit margins

	Plenary
09:30	More information Airlines will default, but how were recent airline bankruptcies really dealt with? Case-study led session, exploring the fallout of recent airline bankruptcies (Avianca Brazil, Jet Airways): How well did the industry soak up the aircraft? Did lessor ratings hold true? What were the jurisdictional sensitivities? The impact on demand/supply balance; what will happen if we see an economic contraction? Exploring lessons learned Main room 09:30 Main room Airlines will default, but how were recent airline bankruptcies really dealt with? × Case-study led session, exploring the fallout of recent airline bankruptcies (Avianca Brazil, Jet Airways): How well did the industry soak up the aircraft? Did lessor ratings hold true? What were the jurisdictional sensitivities? The impact on demand/supply balance; what will happen if we see an economic contraction? Exploring lessons learned Next session: ABS maintenance modelling; Improving the accountability of forecast accuracy:
10:15	More information ABS maintenance modelling; Improving the accountability of forecast accuracy: Providing transparency on what causes variance in ABS forecasts, and what are the differences in risk between working with issuers vs working independently for investors Intex and DealVector: Who are they, how do their models differ and is one superior? Main room 10:15 Main room ABS maintenance modelling; Improving the accountability of forecast accuracy: × Providing transparency on what causes variance in ABS forecasts, and what are the differences in risk between working with issuers vs working independently for investors Intex and DealVector: Who are they, how do their models differ and is one superior? Stuart Rubin VP, Managing Director Aviation ICF SH&E Limited Next session: Priced to perfection: Have appraisals held up in the current sellers’ market? Previous session: Airlines will default, but how were recent airline bankruptcies really dealt with?
11:00	Break Main room 11:00 Main room Break × Next session: Priced to perfection: Have appraisals held up in the current sellers’ market? Previous session: Airlines will default, but how were recent airline bankruptcies really dealt with?
11:30	More information Priced to perfection: Have appraisals held up in the current sellers’ market? Analysis of how appraisals have stacked up relative to expectations in the past few years, focusing on: Residual values by age of aircraft; new, midlife, end of life/part out Whether aircraft sale values incorporate transition costs (re-leases) Level of understanding required for the trading of the assets Main room 11:30 Main room Priced to perfection: Have appraisals held up in the current sellers’ market? × Analysis of how appraisals have stacked up relative to expectations in the past few years, focusing on: Residual values by age of aircraft; new, midlife, end of life/part out Whether aircraft sale values incorporate transition costs (re-leases) Level of understanding required for the trading of the assets Next session: How to maintain long term value for used widebody market; looking at: Previous session: Airlines will default, but how were recent airline bankruptcies really dealt with?
12:00	More information How to maintain long term value for used widebody market; looking at: Volume increase of aircraft coming on market Lessor mix Simplifying transitions and trading Engine OEM actions – CareStore, LessorCare with LifeKey vs GE growing control of aftermarket Main room 12:00 Main room How to maintain long term value for used widebody market; looking at: × Volume increase of aircraft coming on market Lessor mix Simplifying transitions and trading Engine OEM actions – CareStore, LessorCare with LifeKey vs GE growing control of aftermarket Lee Roulston Finance Business Partner Rolls-Royce Patrick den Elzen Managing Director Arena Aviation Capital Next session: Understanding which assets are maintenance payers and which are not Previous session: Airlines will default, but how were recent airline bankruptcies really dealt with?
12:30	More information Understanding which assets are maintenance payers and which are not Outlining which airlines/assets pay maintenance reserves The relevance of maintenance reserves for investors Evaluating what ‘full life’ means today; heavy maintenance check and new engines or economic top up? Main room 12:30 Main room Understanding which assets are maintenance payers and which are not × Outlining which airlines/assets pay maintenance reserves The relevance of maintenance reserves for investors Evaluating what ‘full life’ means today; heavy maintenance check and new engines or economic top up? Bryson Monteleone Senior Advisor \| Aviation Finance Advisory Services PricewaterhouseCoopers ( PwC ) Previous session: Airlines will default, but how were recent airline bankruptcies really dealt with?
13:15	Exploring AFIC: What investors needs to know Main room 13:15 Main room Exploring AFIC: What investors needs to know × Leslie Kurshan Head of Product Development Marsh UK Previous session: Airlines will default, but how were recent airline bankruptcies really dealt with?
13:45	End of Workshop Day Main room 13:45 Main room End of Workshop Day × Previous session: Airlines will default, but how were recent airline bankruptcies really dealt with?

Ted O'Byrne

MD, Co Head of Aviation

Carlyle Group

John Luth

Chairman, President & CEO

Seabury Consulting now part of accenture

Rob Jamison

Commercial Manager

Rolls Royce

Peter Friedman

Deputy Head, Investment Promotion

InvestHK

Yevgeniya "Gene" Levitin

Managing Director

Natixis

Richard Munden

Partner

Carey Olsen

Greg Lee

Managing Director

Goldman Sachs

Addison Schonland

Founder & Partner

AirInsight

Radha Tilton

Goldman Sachs

Gerry Butler

Managing Director

Merx Aviation Finance

Patrick den Elzen

Managing Director

Arena Aviation Capital

Ardy Ghanbar

Aviation CFO

Castlelake

Heinrich Loecheken

Consultant

Mc Aviation Partners Inc.

Laurie Sartain

Director

The Corporation for Interest Rate Management

Christina Ochs

President

The Corporation for Interest Rate Management

Richard Barnett

Managing Director

Castlelake

Marjan Riggi

Senior managing director

Kroll Bond Rating Agency

Chris Beers

Chief Legal Officer

Aircastle

Eric Morgan

Senior Vice President

UMB Bank

Keith Allman

Managing Director, Head of Esoteric ABS

MUFG

Gareth John

Global Head of Aviation

Natixis

Leslie Kurshan

Head of Product Development

Marsh UK

Carla Schriver

Vice President

Goldman Sachs

Douglas Lee

Deputy Head, Investment Promotion

InvestHK

Marie-Louise Kelly

Senior Director, Funding & Acquisitions

Orix

Christian Wolff

Director

Helaba (Landesbank Hessen-Thueringen)

John Wikoff

Senior Executive Director

FPG AIM

Edward Connolly

SVP Capital Markets

Engine Lease Finance Corporation

Mark Rogers

Associate

The Corporation for Interest Rate Management

Steve Mason

Senior Vice President

Avolon

Shirley Lu

Assistant Vice President

Air Lease Corporation

James Meyler

CEO HK

Orix Aviation

Wesley Trowbridge

Vice President

T. Rowe Price

James Meyler

CEO HK

Orix Aviation

Elena Serdyuk

Director

New York Life Investors

Eamonn Forbes

Chief Commerical Officer

FPG Amentum

Daniel Krup

Managing Director

Beach Point Capital

Lee Roulston

Finance Business Partner

Rolls-Royce

Stuart Rubin

VP, Managing Director Aviation

ICF SH&E Limited

Doug Winter

Chief Commercial Officer

Aircastle

Bob Bengtson

Vice President, Credit Products Group

Goldman Sachs

Will Eustis

Managing Director

Wells Fargo Securities, LLC

Timothy Myers

President

Boeing Capital Corporation

Kevin Hawkins

Director – Capital Markets

Delta Air Lines

Donal Boylan

Board Of Directors

VietJet Air

Nate Riggs

SVP Commerical

Aergo Capital

Fraser Chestney

Senior Vice President

Magi Aviation Capital

Kathryn Peters

Vice President

Jackson Square Aviation

Damon D'Agostino

President & CEO

Zephyrus Aviation Capital

Richard Hakes

Partner, Head of London Aviation

Reed Smith

Kevin MacLeod

Head of the New York Capital Markets

Vedder Price

Teiji Ishikawa

CEO

JP Lease Products and Services

Mark Streeter

Managing Director, Airline/Aircraft Credit Research

J.P. Morgan

Andrew "Andy" Kleeman

Managing Director

SunLife Investments

John Beekman

Fixed Income Analyst

Fidelity Management & Research

Steven Udvar-Hazy

Chairman

Air Lease Corporation

Joe O'Mara

Tax Partner

KPMG

Kumar Velayudham

Managing Director

Oz Management

Ronan Murphy

Director

Merx Aviation Finance

Bryson Monteleone

Senior Advisor | Aviation Finance Advisory Services

David "Dave" Andrews

Managing Partner

Hudson Structured Capital Management

Karl Griffin

Chief Commercial & Investment Officer

Genesis Aircraft Services

Ali Ben Lmadani

CEO

ABL Aviation

Gary Fitzgerald

CEO

Stratos

Kumar Velayudham

Managing Director

Oz Management

Investor/Airline Registration

Complimentary conference passes are available to airlines and instiutional investors (subject to approval by Ishka)

Any questions or for more information, please contact Luke Hill
[email protected]
+44 (0)203 176 6396

The Aviation Investival New York

CIRM Breakfast Briefing: Hedging to reduce your cost of funds and increase your profit margins

Ishka Welcome

The current state of play for the aviation financing market

The Ishka Gameshow

Break

Keynote investor panel: Ask me anything

Ishka’s Crunch before lunch!

Lunch

Keynote airline panel: Encouraging more innovation in market structures

Investor opportunity constraints; where are the assets?

What is the real impact of the MAX grounding for investors?

How real is the tradable e-note market?

Break

Will the ABS market be around in the same size in the next two years?

How dynamic is the Japanese equity market?

Investor Speed Dating

The Ishka Debate: “This house believes thinning spreads will reduce investor dem...

The Ishka Debate: “This house believes public equity opportunities offer better ...

Ishka awards Best American Airline followed by short Q&A

Conference after-party and networking drinks

Airlines will default, but how were recent airline bankruptcies really dealt with?

ABS maintenance modelling; Improving the accountability of forecast accuracy:

Break

Priced to perfection: Have appraisals held up in the current sellers’ market?

How to maintain long term value for used widebody market; looking at:

Understanding which assets are maintenance payers and which are not

Exploring AFIC: What investors needs to know

End of Workshop Day

Transaction Economics – Aircraft Values and Trading Data

Ishka Advisory – Airline Restructuring

Ishka Insights

The Aviation Investival New York

founding partner

CIRM Breakfast Briefing: Hedging to reduce your cost of funds and increase your profit margins

Ishka Welcome

The current state of play for the aviation financing market

The Ishka Gameshow

Break

Keynote investor panel: Ask me anything

Ishka’s Crunch before lunch!

Lunch

Keynote airline panel: Encouraging more innovation in market structures

Investor opportunity constraints; where are the assets?

What is the real impact of the MAX grounding for investors?

How real is the tradable e-note market?

Break

Will the ABS market be around in the same size in the next two years?

How dynamic is the Japanese equity market?

Investor Speed Dating

The Ishka Debate: “This house believes thinning spreads will reduce investor dem...

The Ishka Debate: “This house believes public equity opportunities offer better ...

Ishka awards Best American Airline followed by short Q&A

Conference after-party and networking drinks

Airlines will default, but how were recent airline bankruptcies really dealt with?

ABS maintenance modelling; Improving the accountability of forecast accuracy:

Break

Priced to perfection: Have appraisals held up in the current sellers’ market?

How to maintain long term value for used widebody market; looking at:

Understanding which assets are maintenance payers and which are not

Exploring AFIC: What investors needs to know

End of Workshop Day

Thank you for your interest in The Aviation Investival New York

Transaction Economics – Aircraft Values and Trading Data

Ishka Advisory – Airline Restructuring

Ishka Insights