Investing In Aviation Finance: Europe

Apr 9 - Apr 10, 2019

etc.venues St Pauls, 200 Aldersgate, St. Pauls, London EC1A 4HD, United Kingdom

Jim Reid

MD and Global Head of Fundamental Credit Strategy

Deutsche Bank

Thierry Masson

M&G Investments

Lucy England

Associate

Bird & Bird

Irena Badelska

Head of Business Development & Investor Relations

Amedeo

Christian Schloemann

KGAL Capital

Edward O'Byrne

Managing Director, Co Head of Aviation

Carlyle Aviation Partners

Ursula Hurley

Vice President Structural Programs

JetBlue Airways

Eric Morgan

Senior Vice President

UMB Bank

Finnian O'Neill

ABL Aviation

Thomas Light

Aviation Finance

Investec

Peter Vardigans

Partner

Magi Aviation Capital

Leslie Kurshan

Head of Product Development

Marsh & McLennan, Inc.

Stephan Sayre

Managing Director

DVB Bank

OLGA RAZZHIVINA

APPRAISER

ORIEL

Philip Pearson

Partner

AgFe

Steve van der Stichele

Barclays Bank

Michel Dembinski

Managing Director, Head of Aviation - Structured Finance Office

Bank of Tokyo-Mitsubishi UFJ (BTMU)

Richard Sharman

Partner

Bird & Bird LLP

Trevor Ricards

Senior Vice President

GECAS

Victoria Goodenough

Executive Director

Natixis

Peter Huijbers

Director

PH Aviation Asia Ltd.

laurent delvart

Crédit Agricole Corporate and Investment Bank

Niranjan Sirdeshpande

Director, Alternative Credit

M&G Investments

Callum Macpherson

Commodities

Investec

Joe O’Mara

Tax Partner

KPMG

Ed Connolly

SVP Capital Markets

ELFC

Dan Stone

Executive Vice President

Dubai Aerospace Enterprise

Alan Leeks

Virgin Atlantic Airways

Christine Rovelli

VP Group Treasurer

Finnair

Richard Moody

Global Head, Transportation and Head of Transport, Infrastructure, and Energy, EMEA

Deutsche Bank

Ross O'Connor

Head of Investor Relations

Avolon

Helene Spro

Associate Director

Scope Ratings GmbH

Christian Wolff

Director

Helaba

franck genet

Managing Director

Crédit Agricole Corporate and Investment Bank

Joseph McGinley

Head of Investor Relations

Aercap

Colin McGinlay

Associate Director

Metlife

Kevin MacLeod

Vedder Price

Robert Sheldon

Managing Director, Head of Transportation ABS

Deutsche Bank

Albert Ganyushin

Head of Captial Markets

Dr. Peters Group

Michael Fox

Vice President

Goldman Sachs

John Hanlon

Head of International Government and Industry Affairs

Norwegian Air Shuttle

Maybel Saleh

Director, EMEA Aviation

Citi

Matthew O'Sullivan

Head of Commercial Securitisation

M&G Investments

robert roy

VP Transportation

Aviation Capital Group

Ed Hansom

CIO

Sirius Aviation Capital

Matthew Taylor

Legal and General

Ryan McKenna

SVP and Head of Strategic Planning

Air Lease Corporation

Ali Ben Lmadani

Managing Director

ABL Aviation

Dimitri Weedon

Rothesay Life

Chandra Gopinathan

Senior Investment Consultant

Global Credit Research Partners

Eric Meyers

Managing Director

Goldman Sachs

Investing in Aviation Finance: Europe, is the meeting place for institutional investors and industry specialists looking to explore funding and aircraft investment opportunities across Europe and the rest of the world.

Our back to the future agenda aims to challenge the market to develop products, structures and infrastructure to address the misalignment between issuers and investors and stimulate more deal activity.

WHAT TO EXPECT

PLAN. CONNECT. ENGAGE.

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Browse the full guest list, message fellow attendees and schedule meetings all from the palm of your hand.

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Gain expert insight from our incredible speaker line-up

CONFIRMED INVESTORS INCLUDE

Absolute Return Partners
Aeon Investments
Amstrow
Bateleur Capital L.L.C.
Border To Coast Pension Funds
Brooks Macdonald Asset Management
Cairn Capital
Charter House Capital Partners
Coller Capital
Deutsche Asset Management
DWS – DB Group
Entrust Global
Fortress Investment Group
Friends First Life Assurance Company
GIC
IFM Investors
Insight Investment
JUST Group
JW Asset Management
L&G IM
L&G Retirement
LetterOne Treasury Services
M&G Investments

Marks and Spencer Pension Trust
Metlife
Millennium Capital AS
Newton Investment Management
Nimrod Capital
Ontario Airports
Ostrum AM
Pantheon Ventures
Pension Insurance Corporation
PGGM Infrastructure
Phoenix Group
RM Capital
Rothesay Life
Royal Mail Pension Plan
RPMI
SilverNote Capital Limited
Stanhope Capital
Tesco Pension Fund
The Grosvenor Family Office
Volofin Capital Management Ltd
Volpi Capital
Wafra
Waverton Investment Management

Watch the highlights and hear what delegates had to say about the 2018 conference

For sponsorship opportunites please contact Lewis Price:
[email protected]
+44 203 189 4598

“A refreshing format with great information and insight”

Steve Mason

Head of Aircraft Evaluation and Asset Strategy, Cit

“Superb event with exceptional networking opportunities”

Arnaud Fiscel

Managing Director, Aeroportance

“Great event, very informative! I would recommend it to anyone interested in aviation whether experienced or new to the industry.”

Oumar Diallo

Partner , Floreat Capital Markets

	Research Hub Agenda
09:30	More information The Alternative Infrastructure view Making the case for aircraft as an alternative infrastructure asset class (aircraft characteristics, risk return structures, the broadening out of investor interests from core infra etc) Main room 09:30 Main room The Alternative Infrastructure view × Making the case for aircraft as an alternative infrastructure asset class (aircraft characteristics, risk return structures, the broadening out of investor interests from core infra etc) Next session: What will impact future aircraft values and lease rates in the future?
10:15	Oil price fluctuations and their footprint on the aviation industry: cause and correlation Main room 10:15 Main room Oil price fluctuations and their footprint on the aviation industry: cause and correlation × Next session: What will impact future aircraft values and lease rates in the future? Previous session: The Alternative Infrastructure view
11:00	Networking break Main room 11:00 Main room Networking break × Next session: What will impact future aircraft values and lease rates in the future? Previous session: The Alternative Infrastructure view
11:45	More information What will impact future aircraft values and lease rates in the future? The retention of aircraft values on different types of aircraft Repercussions for A380 values following end of production The model life cycle: Are the Neo/Max getting a fair premium over the Ceo/NG in value and lease rate terms now that they are proven in service? New vs midlife; where’s the sweet spot Part out market, engines strength The impact of a downturn Main room 11:45 Main room What will impact future aircraft values and lease rates in the future? × The retention of aircraft values on different types of aircraft Repercussions for A380 values following end of production The model life cycle: Are the Neo/Max getting a fair premium over the Ceo/NG in value and lease rate terms now that they are proven in service? New vs midlife; where’s the sweet spot Part out market, engines strength The impact of a downturn Next session: What are the actual returns by age of aircraft today? Previous session: The Alternative Infrastructure view
12:30	More information What are the actual returns by age of aircraft today? Exploring lessors’ options: limited value in S&LB market vs placing orders with OEMs today for deliveries in 3-5 years Investigating aggressive traffic growth projections and the prospect of overcapacity – can lessors capitalise if the growth targets fall short? Is lessor consolidation the answer? Main room 12:30 Main room What are the actual returns by age of aircraft today? × Exploring lessors’ options: limited value in S&LB market vs placing orders with OEMs today for deliveries in 3-5 years Investigating aggressive traffic growth projections and the prospect of overcapacity – can lessors capitalise if the growth targets fall short? Is lessor consolidation the answer? Next session: How do today’s lessors grow? OEM orders vs S&LB value Previous session: The Alternative Infrastructure view
13:00	Lunch Main room 13:00 Main room Lunch × Next session: How do today’s lessors grow? OEM orders vs S&LB value Previous session: The Alternative Infrastructure view
14:00	More information How do today’s lessors grow? OEM orders vs S&LB value Exploring lessors’ options: limited value in S&LB market vs placing orders with OEMs today for deliveries in 3-5 years Investigating aggressive traffic growth projections and the prospect of overcapacity – can lessors capitalise if the growth targets fall short? Is lessor consolidation the answer? Main room 14:00 Main room How do today’s lessors grow? OEM orders vs S&LB value × Exploring lessors’ options: limited value in S&LB market vs placing orders with OEMs today for deliveries in 3-5 years Investigating aggressive traffic growth projections and the prospect of overcapacity – can lessors capitalise if the growth targets fall short? Is lessor consolidation the answer? Previous session: The Alternative Infrastructure view
14:30	Exploring AFIC Main room 14:30 Main room Exploring AFIC × Previous session: The Alternative Infrastructure view
15:15	The Ishka view of 2019 and beyond Main room 15:15 Main room The Ishka view of 2019 and beyond × Previous session: The Alternative Infrastructure view

	Debt	Equity	Product MOT
08:00	Breakfast briefing with KGAL - Opportunities for investors across the life of an aircraft Main room 08:00 Main room Breakfast briefing with KGAL - Opportunities for investors across the life of an aircraft × Next session: Keynote presentation with Jim Reid
09:00	Ishka welcome and video Main room 09:00 Main room Ishka welcome and video × Next session: Keynote presentation with Jim Reid
09:10	More information Keynote presentation with Jim Reid This session will cover the macro backdrop on the global economy and financial markets Why was 2018 the worst year for global financial markets on record and why has 2019 rebounded strongly so far? What are the upcoming risks investors need to look out for? Where are we in this cycle and when the the next recession expected? Main room 09:10 Main room Keynote presentation with Jim Reid × This session will cover the macro backdrop on the global economy and financial markets Why was 2018 the worst year for global financial markets on record and why has 2019 rebounded strongly so far? What are the upcoming risks investors need to look out for? Where are we in this cycle and when the the next recession expected? Next session: Could Brexit shock the aviation industry into a downturn?
09:35	More information Could Brexit shock the aviation industry into a downturn? The impact of Brexit on the industry Will the industry see liberalisation in the existing airline ownership & control rules? What can be learned from previous cycle downturns? How resilient is the market? How elastic is investor demand? How do investors feel their investments would perform in a downturn? Main room 09:35 Main room Could Brexit shock the aviation industry into a downturn? × The impact of Brexit on the industry Will the industry see liberalisation in the existing airline ownership & control rules? What can be learned from previous cycle downturns? How resilient is the market? How elastic is investor demand? How do investors feel their investments would perform in a downturn? Next session: Keynote investor panel: How to align the interests of European investors with issuers Previous session: Keynote presentation with Jim Reid
10:15	More information Keynote investor panel: How to align the interests of European investors with issuers What are investors’ preferences in terms of structures in the market? Investor roadshows: best practices for issuers and banks Is the market deep enough for European investors? Main room 10:15 Main room Keynote investor panel: How to align the interests of European investors with issuers × What are investors’ preferences in terms of structures in the market? Investor roadshows: best practices for issuers and banks Is the market deep enough for European investors? Next session: Black mirror all play Previous session: Keynote presentation with Jim Reid
10:50	Networking break Main room 10:50 Main room Networking break × Next session: Black mirror all play Previous session: Keynote presentation with Jim Reid
11:30	11:45: Ishka and FPG Amentum’s investor survey – the results Main room 11:30 Main room 11:45: Ishka and FPG Amentum’s investor survey – the results × Next session: Black mirror all play Previous session: Keynote presentation with Jim Reid
11:50	More information Black mirror all play What impact will global digitalisation and technology advances have on the industry? Delegates are split in to small groups and set a series of challenges to solve together and feedback to the group. Main room 11:50 Main room Black mirror all play × What impact will global digitalisation and technology advances have on the industry? Delegates are split in to small groups and set a series of challenges to solve together and feedback to the group. Next session: Is the lack of European EETCs a demand or a supply issue? Previous session: Keynote presentation with Jim Reid
12:40	Lunch Main room 12:40 Main room Lunch × Next session: Is the lack of European EETCs a demand or a supply issue? Previous session: Keynote presentation with Jim Reid
	Debt		Equity
14:00	More information Is the lack of European EETCs a demand or a supply issue? Main room 14:00 Main room Is the lack of European EETCs a demand or a supply issue? × What are the benefits of EETCs for European investors (rated, asset backed, full recourse to airline etc) What can the industry to do encourage more European/non-US EETCs? Under what conditions should an airline look to diversify its investor pool? Next session: Are bilateral deals the best entry point for European investors to match their yield requirements? Previous session: Keynote presentation with Jim Reid		More information Will tradable e-notes bring more European investors in to the ABS product? Main room 2 14:00 Main room 2 Will tradable e-notes bring more European investors in to the ABS product? × How are tradable e-note deals structured? Return profile, level of reporting required etc How to best manage the conflict of interest between investors, lessors and asset managers? Is there enough transparency between lessors and e-note holders? Next session: What are the challenges for European investors looking to increase their exposure to real assets?
14:30	More information Are bilateral deals the best entry point for European investors to match their y... Main room 14:30 Main room Are bilateral deals the best entry point for European investors to match their yield requirements? × What is the supply of bilateral deals in the market? Are European investors ready for bilateral deals? What are the barriers to entry and risk factors? Will banks decrease their bilateral lending activity with Basel IV? Next session: Keynote issuer panel: marrying the mindsets of issuers and investors Previous session: Keynote presentation with Jim Reid		More information What are the challenges for European investors looking to increase their exposur... Main room 2 14:30 Main room 2 What are the challenges for European investors looking to increase their exposure to real assets? × Where are the equity opportunities currently? Exploring the barriers to entry for European investors assessing equity investments What do equity investors want from these deals, is it simply bespoke structures, involvement in origination and trustworthy partners? Previous session: Will tradable e-notes bring more European investors in to the ABS product?
15:00	Networking break Main room 15:00 Main room Networking break × Next session: Keynote issuer panel: marrying the mindsets of issuers and investors Previous session: Keynote presentation with Jim Reid
	Product MOT	Back to the Future	“Business Angels” clinic
15:30	More information Are AFIC, Balthazar and ACG’s AFS programme robust investment options for invest... Main room 15:30 Main room Are AFIC, Balthazar and ACG’s AFS programme robust investment options for investors seeking insured products? × Outlining AFIC, Balthazar and AFS’s application and structure profile in the capital markets What is European investor appetite and challenges for insured paper? How robust will the products be during a downturn without ECA-style government backing? Next session: The afternoon ABS workout: breaking down restrictions for investing in ABS debt in Europe	More information This house believes aviation should be classed as an ESG rated investment in the... Main room 2 15:30 Main room 2 This house believes aviation should be classed as an ESG rated investment in the future. Do you agree? × Can aviation funds tailor investments to be more ESG compliant? What are the challenges for airlines becoming more ESG compliant? Why are some investors resisting the notion of aviation being ESG compliant? Next session: Challenging the status quo that aircraft is a dollar asset	More information “Business Angels” clinic Main room 3 15:30 Main room 3 “Business Angels” clinic × Book in to see our expert panel of aviation angels. Whether you are a new investor, financier, or platform, or just wanting to exchange ideas or seek advice, our angels will be on hand to consult, discuss and advise
	Product MOT		Back to the Future
16:00	More information The afternoon ABS workout: breaking down restrictions for investing in ABS debt ... Main room 16:00 Main room The afternoon ABS workout: breaking down restrictions for investing in ABS debt in Europe × Are the latest ABS structures becoming too aggressive for European investors? What restricts European investors from investing in ABS paper? Prepayment protections, hard amortisation, regulations on credit etc How can the industry stimulate more interest from European investors in the ABS product? Previous session: Are AFIC, Balthazar and ACG’s AFS programme robust investment options for investors seeking insured products?		More information Challenging the status quo that aircraft is a dollar asset Main room 2 16:00 Main room 2 Challenging the status quo that aircraft is a dollar asset × Examining why there are so few non-USD deals in the market and how to bring more Euro and Sterling deals to the market Has hedging costs stripped the relative value and attractiveness out of deals for investors? Is it the job of the OEMs, leasing companies or other sectors to price more aircraft in Euro and Sterling? Previous session: This house believes aviation should be classed as an ESG rated investment in the future. Do you agree?
16:30	More information Keynote issuer panel: marrying the mindsets of issuers and investors What structures are available to European investors? What are the opportunities coming out of the market today? Age of aircraft, airlines, deal terms, pricing expectations etc How far are issuers willing to flex deal terms in recognition of investor requirements? Main room 16:30 Main room Keynote issuer panel: marrying the mindsets of issuers and investors × What structures are available to European investors? What are the opportunities coming out of the market today? Age of aircraft, airlines, deal terms, pricing expectations etc How far are issuers willing to flex deal terms in recognition of investor requirements? Previous session: Keynote presentation with Jim Reid

Investor/Airline Registration

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

Please note that complimentary passes are valid for the main conference day only (Wednesday 10th April). Passes for the Research Hub taking place on Tuesday 9th April must be purchased separately via the booking page.

Any questions or for more information, please contact Harriet Coates
[email protected]
+44 (0)203 189 4597

etc.venues St Pauls, 200 Aldersgate, St. Pauls, London EC1A 4HD

United Kingdom

Event enquiries

Phone: +44 (0)20 3176 6393

Email: [email protected]

Investing In Aviation Finance: Europe

The Alternative Infrastructure view

Oil price fluctuations and their footprint on the aviation industry: cause and correlation

Networking break

What will impact future aircraft values and lease rates in the future?

What are the actual returns by age of aircraft today?

Lunch

How do today’s lessors grow? OEM orders vs S&LB value

Exploring AFIC

The Ishka view of 2019 and beyond

Breakfast briefing with KGAL - Opportunities for investors across the life of an aircraft

Ishka welcome and video

Keynote presentation with Jim Reid

Could Brexit shock the aviation industry into a downturn?

Keynote investor panel: How to align the interests of European investors with issuers

Networking break

11:45: Ishka and FPG Amentum’s investor survey – the results

Black mirror all play

Lunch

Is the lack of European EETCs a demand or a supply issue?

Will tradable e-notes bring more European investors in to the ABS product?

Are bilateral deals the best entry point for European investors to match their y...

What are the challenges for European investors looking to increase their exposur...

Networking break

Are AFIC, Balthazar and ACG’s AFS programme robust investment options for invest...

This house believes aviation should be classed as an ESG rated investment in the...

“Business Angels” clinic

The afternoon ABS workout: breaking down restrictions for investing in ABS debt ...

Challenging the status quo that aircraft is a dollar asset

Keynote issuer panel: marrying the mindsets of issuers and investors

etc.venues St Pauls, 200 Aldersgate, St. Pauls, London EC1A 4HD

Event enquiries

@IshkaTeam

Ishka Insight reports

Investing In Aviation Finance: Europe

founding partner

The Alternative Infrastructure view

Oil price fluctuations and their footprint on the aviation industry: cause and correlation

Networking break

What will impact future aircraft values and lease rates in the future?

What are the actual returns by age of aircraft today?

Lunch

How do today’s lessors grow? OEM orders vs S&LB value

Exploring AFIC

The Ishka view of 2019 and beyond

Breakfast briefing with KGAL - Opportunities for investors across the life of an aircraft

Ishka welcome and video

Keynote presentation with Jim Reid

Could Brexit shock the aviation industry into a downturn?

Keynote investor panel: How to align the interests of European investors with issuers

Networking break

11:45: Ishka and FPG Amentum’s investor survey – the results

Black mirror all play

Lunch

Is the lack of European EETCs a demand or a supply issue?

Will tradable e-notes bring more European investors in to the ABS product?

Are bilateral deals the best entry point for European investors to match their y...

What are the challenges for European investors looking to increase their exposur...

Networking break

Are AFIC, Balthazar and ACG’s AFS programme robust investment options for invest...

This house believes aviation should be classed as an ESG rated investment in the...

“Business Angels” clinic

The afternoon ABS workout: breaking down restrictions for investing in ABS debt ...

Challenging the status quo that aircraft is a dollar asset

Keynote issuer panel: marrying the mindsets of issuers and investors

etc.venues St Pauls, 200 Aldersgate, St. Pauls, London EC1A 4HD

Event enquiries

Thank you for your interest in Investing In Aviation Finance: Europe.

Thank you for your interest in .

@IshkaTeam

Ishka Insight reports