Investing in Aviation Finance Germany

Nov 26, 2019
Sofitel Munich, Germany
founding partner

Announcement: New venue
We have now moved to Sofitel Munich, Bayerstraße 12, 80335 München
 

Ishka's 3rd Investing in Aviation Finance: Germany delivers an unrivalled opportunity for high-level networking. This is the industry's only forum connecting German institutional investors and fund managers with the international aviation finance community to stimulate activity within the market and foster new working relationships.

Our carefully curated agenda delivers enriching content to inform and educate German investors and market practioners on the valuable opportunities in aviation finance into 2020 and beyond.
 


 

EXPERT INSIGHT FROM OUR SENIOR SPEAKER LINE-UP:

 

 

NETWORK WITH CONFIRMED INVESTORS INCLUDING:

   

 

 

 

Investor/Airline Registration 

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

 

 

The crew at Ishka are global & disruptive thinkers. Their events are excellent & deserve the industry support. (Co-founder Ryan Air)
Declan Ryan
Founder, Viva Air
Declan Ryan
Ishka's unique format encourages open and candid debate on key issues among leading industry figures and market players resulting in a high quality dialogue. Ishka events are the 'conference of choice' for me and many colleagues
Steve Bridgland
SVP, DVB Bank SE Representative Office New York
Steve Bridgland
If you’re looking for an event in aviation finance that goes to a deeper level and debates the (critical) topics – this is the one!
Sally Gilding
Senior Consultant, Ocorian
Sally Gilding

Presentation

Panel

Roundtable

Interactive

  Plenary Industry-wide stream Investor workshop
08:00

Registration

Main

09:10

Ishka Welcome

Main

09:15

How does aviation compare to real estate?

Making the case for investing in aviation vs real estate, and where each asset class sits relative to each other.

Main

09:45

The industry leader’s gameshow

  • Where does aviation fit into the long-term strategies of German banks?
  • How have KG funds performed and where could it all go wrong?
  • The available categories for aircraft investments under the Investment Ordinance (Anlageverordnung) and the stress factors under Solvency II
  • Are there are sufficient (international) asset managers trusted by institutional investors focusing on the asset class

Main

10:30

Morning networking break

Main

11:00

The Ishka Debate: “This house believes the lack of available aircraft is stunting the growth of aviation as an asset class for German investors”.

  • No available assets, or not enough investors:  What is holding up growth in the asset class within Europe?
  • Are there a lack of entry assets to invest in? (narrowbodies; A320/neo, A321, 737/MAX etc)
  • Should German investors be looking at riskier assets?

Main

11:30

The Crunch Before Lunch

Delegates are split into small groups and participate in a series of quick-fire crunch talks on industry innovations and risks impacting the aviation capital markets.

Main

12:15

Networking lunch

Main

Industry-wide stream Investor workshop
13:45

Appraising the appraisers: Have aircraft residual values held up vs expectation?

  • Proof & concept: what appraisers said would happen vs what has actua...

    Main

The business case: Can aviation really be classed as an infrastructure investmen...

14:15

Will aviation investments be ESG compliant?

The product roulette: Navigating the different points of entry into aviation fin...

Our panel of aviation experts will spin the wheel and discuss each of the entry ...

Second

14:45

Afternoon networking break

Main

Industry-wide stream Investor workshop
15:15

Why are airline bankruptcies still happening in a booming environment?

Navigating end of lease situations and remarketing aircraft


15:45

Are German investors ready to talk ABS?

  • Why has there been a lack of interest for aircraft ABS in Germany?
    ...

    Main

Trends in Aviation Finance

16:15

Closing remarks and close of conference

Main

Markus Ohlert
Markus Ohlert
Head of Corporate Aircraft Finance & Financial Fleet Management
Deutsche Lufthansa AG
Bertrand Dehouck
Bertrand Dehouck
Managing Director, Aviation Finance
BNP Paribas
Stefan Schütte
Stefan Schütte
Senior Porfolio Manager
R+V Lebensversicherung AG
Ted O'Byrne
Ted O'Byrne
MD, Co Head of Aviation
Carlyle Group
Yves Germeaux
Yves Germeaux
Managing Director
ATOZ Aviation Finance
Stephan Sayre
Stephan Sayre
Managing Director
DVB Bank
Martin Browne
Martin Browne
VP Commercial EMEA
Aergo Capital
Philipp Prior
Philipp Prior
Managing Partner
EMP Structured Assets GmbH
Joerg Schirrmacher
Joerg Schirrmacher
Head of Transport Finance & Senior Vice President
Helaba/Landesbank Hessen-Thuringen
Karl Essig
Karl Essig
Partner
AgFe
Christian Wolff
Christian Wolff
Director - Corporate Finance
Helaba (Landesbank Hessen-Thueringen)
Oliver  Oehri
Oliver Oehri
Founding Partner
CSSP
Johannes Vogel
Johannes Vogel
Counsel
FRESHFIELDS BRUCKHAUS DERINGER LLP
Frank Segger
Frank Segger
Portfolio Manager
KGAL Capital
Paul Ng
Paul Ng
Partner
Milbank
Paul O'Callaghan
Paul O'Callaghan
EVP Portfolio Management
Aircastle
Derek Wong
Derek Wong
Aviation Finance
Investec
Philipp Goedeking
Philipp Goedeking
Managing Partner
Avinomics
Neil Lewis
Neil Lewis
COO
Magi Aviation Capital
Patrick den Elzen
Patrick den Elzen
Managing Director
Arena Aviation Capital
Helene Spro Johansen
Helene Spro Johansen
Associate Director Project Finance
Scope Ratings AG
Sibylle Paehler
Sibylle Paehler
Managing Director
Doric GmbH
Jochen Baltes
Jochen Baltes
Managing Director
GOAL Aircraft Leasing
Markus Paul Niedermeier
Markus Paul Niedermeier
Head of Aviation
LHI Kapitalverwaltungsgesellschaft mbH
James Kelly
James Kelly
Partner
KPMG Ireland
Philip Pearson
Philip Pearson
Partner
AgFe
Olga Razzhivina
Olga Razzhivina
Director
ORIEL
Matthias Winter
Matthias Winter
Rechtsanwalt - Partner
Bird & Bird LLP
Richard Moody
Richard Moody
Managing Director - Credit Solutions Group
Deutsche Bank
Dan Stone
Dan Stone
Executive Vice President
Dubai Aerospace Enterprise
Eddy Pieniazek
Eddy Pieniazek
Head of Advisory
Ishka

WHO'S ATTENDING?
 

   

 

Just a sample of some of the companies registered to attend includes:


Aergo Capital
AgFe
Air2E GmbH
AllMerus Energy Ltd
ÄrzteVersorgung Westfalen-Lippe
ATOZ Aviation Finance
Avinomics
BayernLB
Bird & Bird
BNP Paribas
Bruski Smeets Lange
Burnham Sterling
Carlyle Group
Castlelake
Commerz Real
CSSP
Dekabank
Deutsche Bank
Deutsche Lufthansa AG
Doric GmbH
Dr. Peters Group
Dubai Aerospace Enterprise
DVB Bank

 

 

Sofitel Munich

Bayerstraße 12

80335 München, Germany

Find out more on the Sofitel website.

 

  We caught up with keynote speaker Markus Ohlert, Head of Corporate Aircraft Finance & Financial Fleet Management,   Deutsche Lufthansa who shares see his expert outlook on the financing landscape for  
  airlines and offers a glimpse of what to expect on 26th November in Munich.




Ishka: Is now the best time to be an airline with regards to access to financing? Surely costs must now be at record low?

Markus: "Correct, from Lufthansa’s perspective, accessibility to financing is easy and cost of financing very low. Lufthansa has issued a 500mEUR bond with a five year maturity and a coupon of 0,25%."
 
Ishka: What financing structures are you favouring and why?

Markus: "We like to mix secured and unsecured financing. With respect to secured financing, we like the JOLCO product for its pricing and reliability. As far as aunsecured financing is concerned, we have mostly used Schuldschein financing as well bond issues, depending on the market situation at the given point in time."
 
Ishka: JOLCOs have enviably cheap levels of equity - are you tempted to access that market again this year? How do you compare a bond with, say cheap long-form secured debt, like a JOLCO? Do you have a certain ratios you try and keep?

Markus: "We will be closing a JOLCO in December, but have locked in this transaction already a while ago. We expect to go back to the JOLCO market again in 2020, but will decide only step by step how much money we will raise. We constantly compare the cost of unsecured financing with the cost of secured financing, but are willing to live with the higher cost of unsecured financing in order to complement our debt portfolio, depending on the situation at the given point in time."
 
Ishka: A lot of investors are focused on ESG credentials, in your opinion can aviation qualify as an ESG investment?

Markus: "Lufthansa undertakes every effort to run its operations in a sustainable way, and we see  similar activities in wide parts of our industry, but ultimately it will be the markets to decide whether aviation can qualify as an ESG investment."
 
Ishka: Eurowings has struggled to make a profit, would this challenge be even bigger if Lauda (Ryanair-owned) gets hold of more aircraft and moves to open bases in Germany next year?

Markus: "The point-to-point market in Germany is currently very competitive. This is great for the customers and tough for all market participants. While Eurowings is there to stay it will be interesting to see how the rest of the market will fare in the long run."

 


 

Investing in Aviation Finance Germany

26th November 2019
Ishka's 3rd German conference is moving to Munich for 2019 to connect the international community with German institutional Investors

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