Investing in Aviation Finance & Infrastructure: Europe

Ishka London Digital webcast series

2020
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ISHKA LONDON DIGITAL: Free webcast series

We want to stay connected during these turbulent times. So, we have six free Ishka London Digital webinars alongside some of our key speakers to view at your leisure until Ishka World Tour: Virtual Aviation Finance Networking Series (12th - 23rd October).

Due to the impact of Covid-19 and the welfare of our delegates and Ishka personnel and travel restrictions, we will not be hosting a face to face event this year. However, we are delighted to announce that Investing in Aviation Finance & Infrastructure: Europe is now an integral part of our exciting Ishka World Tour!

 


The Markets and Aviation: Today and The New World
A ‘work-from-home’ chat with Bill Blain (45 minutes)

 
WEBCAST 1
The first event in the series explores:
  • Are the global financial markets reacting, or over-reacting to Covid-19?
  • How will the different aviation counterparties be impacted by Covid-19? (OEMs, airlines, and investors)
  • What will the investor demand for aviation look like in the future?
  • How to do deals in light of airline bankruptcies and shifting aircraft values
  • Where can the industry find opportunity and optimism from this ‘black swan’ event?
 
Bill Blain
Strategist & Head of Alternative Assets, Shard Capital
Chris Keene
Sales Manager
Ishka
 
 
 
 

 

 
Aircraft Values and Lease Rates - What happens next:
Pointers, Guidelines and Indicators as observed from Olga and Eddy’s ‘Flight Deck’

 
WEBCAST 2
Olga and Eddy discuss:
  • Values and lease rates: how appraisers are viewing the current market
  • What has been the impact of global grounding on airlines, aircraft, lessors/owners so far?
  • Is the industry seeing a transaction ‘vacuum’?
  • What deals are still trying to happen in the current climate?
  • The appraisers view: how to interpret ‘nothing happening’ when ‘everything is happening’
  • What aircraft types will bounce back first, and which will be slow to return, if ever?
  • What might March 2021 look like?
 
Olga Razzhivina
Senior ISTAT Appraiser
Oriel
Eddy Pieniazek
Head of Advisory
Ishka
 
 
 
 

 


COVID-19 and the Changing Role of Aviation Institutions 
The Experts' View 
 
WEBCAST 3
Dick and Bill discuss:
  • How are lessors roles and relationships changing in the current Covid-19 environment? 
  • What are the opportunities for large-scale institutional investors?
  • How are the OEMs expected to respond to excess capacity in the market?
  • Boeing MAX issue; what happens now?
  • What will the MRO capacity and response be in a post Covid-19 ‘new world’?
 
Dick Forsberg  
Senior External Advisor 
PwC
Bill Cumberlidge 
Managing Director 
Centrus Aviation Capital 
 
 
 
 

 
 

The Airline Game Plan for 2020
The Only Way Is Up 
 
WEBCAST 4
Eddy and Sid discuss:
  • How are airlines managing their liquidity positions?
  • What fleet plans are already being made in response to Covid-19?
  • Airline Q1 results – what should the industry expect to see?
  • Flying in the Age of Corona – the shape of things to come?
 
Eddy Pieniazek 
Head of Advisory 
Ishka 
Siddharth Narkhede 
Analyst 
Ishka 
 
 
 
 

 
 

 
Aviation Finance: Near-term Bumps and Understanding the Recovery  
A review of the current financing climate
 
WEBCAST 5
Hal and Bert discuss:
  • Examining the best approach for forecasting a Covid-19 recovery
  • Are ECAs expected to play a bigger role now?
  • What pressures do the OEMs face?
  • How will lessors fund themselves post Covid-19?
  • Which aircraft assets will benefit first and most through recovery?
     
                                    
 
Hal Calamvokis,
Director, Aviation Finance,
Standard Chartered Bank
Bert van Leeuwen
MD, Head of Aviation Research,
MUFG
 


Airline and Consumer Confidence
What are schedules and bookings telling us about 2020 and 2021?
 
BONUS: WEBCAST 6
John and George discuss:
  • Airline capacity: Have we hit the bottom yet? 
  • Green shoots: When are airlines scheduling capacity?
  • Airline response - the signals: Is there a drive for yield or load factor?
  • Consumer confidence - the voice of the travel industry
     - What does the data tell the market about travel in 2020/2021
 
John Grant 
Partner 
Midas Aviation 


 
George Hastings 
Managing Director
 Ocean Holidays 

 
INVESTOR SURVEY: Free download

The Ishka Aviation Institutional Investor Survey 2020

Produced in 2020, just before the COVID-19 crisis went global, Ishka's new, landmark Aviation Institutional Investor Survey addresses the paucity of knowledge about institutional investor views and their investment strategies.

75 investors actively involved in aviation completed the survey and findings are enriched with expert analysis from Ishka's trsuted advisory team. The report highlights market fundamentals and investor trends that could reappear when we emerge from our current deadlock.

To download your free copy, just fill in the 'INVESTOR SURVEY' form at the top of this page (overlaying the header image).
 
 
 
 
 
 
Adam Davidson
Adam Davidson
Executive Vice President, Business Development and Capital Markets
Aero Capital Solutions
Leslie Kurshan
Leslie Kurshan
Head of Product Development
Marsh UK
Lourens Geldenhuys
Lourens Geldenhuys
Corporate Finance Director
Stratos
Josien Piek
Josien Piek
Head of EMEA
GRESB
Aymeric Angotti
Aymeric Angotti
Head of Aircraft Finance
Ostrum Asset Management
David Broderick
David Broderick
Head of Commercial Development
Cafico International
Mike Jones
Mike Jones
SVP – Investor Relations
GE Capital Aviation Services (GECAS)
Christian Schulz
Christian Schulz
Economist, Director
Citi
Finnian O'Neill
Finnian O'Neill
Managing Director Pricing & Debt
ABL Aviation
Siddharth Narkhede
Siddharth Narkhede
Analyst
Ishka
Michel Dembinski
Michel Dembinski
Senior Finance Executive - Aviation and Asset Finance
some
Pierre Kahn
Pierre Kahn
Head of Infrastructure & Energy, EMEA
Deutsche Bank
Nick Hendy
Nick Hendy
EMEA Aviation Corporate Banking
Citi
Simon Whistler
Simon Whistler
Senior Specialist
Principles for Responsible Investment
Kostya Zolotusky
Kostya Zolotusky
Piiq Risk Partners
Christian Wolff
Christian Wolff
Director
Helaba (Landesbank Hessen-Thueringen)
Patrick den Elzen
Patrick den Elzen
Managing Director
Arena Aviation Capital
David Smilow
David Smilow
Managing Partner
ITE Management
Zaki M Nuseibeh
Zaki M Nuseibeh
Executive Director
Aeon Investments
Richard Moody
Richard Moody
Managing Director, Global Co-Head Transportation, Infrastructure & Energy
Deutsche Bank
Bertrand Grabowski
Bertrand Grabowski
Senior Strategic Advisor
-
Fred Browne
Fred Browne
CEO
Aergo Capital
Mark Rogers
Mark Rogers
Managing Director
Floreat Aviation Capital
Dick Forsberg
Dick Forsberg
Commercial Aircraft Leasing and Strategy Professional
-
Bill Cumberlidge
Bill Cumberlidge
Managing Director
Centrus Aviation Capital
Bryn Jones
Bryn Jones
Head of Fixed Income
Rathbone Brothers
Amit Tyagi
Amit Tyagi
Chief Technical Officer
Acumen Aviation Consultants
Kevin MacLeod
Kevin MacLeod
Head of the New York Capital Markets
Vedder Price
Scott Holland
Scott Holland
VP Regional Marketing
Rolls-Royce & Partners Finance
Bobby Janagan
Bobby Janagan
Managing Director
Rolls-Royce & Partners Finance
Edward Connolly
Edward Connolly
SVP Capital Markets
Engine Lease Finance Corporation
Richard Barnett
Richard Barnett
Managing Director
Castlelake
Joseph McGinley
Joseph McGinley
Head of Investor Relations
Aercap
Colin McGinlay
Colin McGinlay
Director, Private Placements
MetLife, Inc
Karl Essig
Karl Essig
Partner
AgFe
Matt Taylor
Matt Taylor
Senior Investment Manager - Corporate Private Credit
L&G IM
Bill Blain
Bill Blain
Strategist & Head of Alternative Assets
Shard Capital
Eddy Pieniazek
Eddy Pieniazek
Head of Advisory
Ishka
Michael Rodyniuk
Michael Rodyniuk
Vice President - Specialty Assets
Willis Lease Finance Corp
Dr Tom Parkman
Dr Tom Parkman
Head of Research Projects
Olga Razzhivina
Olga Razzhivina
Senior ISTAT Appraiser
ORIEL
Kieran O'Brien
Kieran O'Brien
Partner
KPMG
  Main
09:00

Registration

Impressive suite

09:30

The big picture: Aviation finance and the leasing landscape

  • How is capital flowing into the space and where can investors participate?

Impressive suite

10:15

Precious metal: How to understand aircraft as an investment class

  • A takeaway of the typical costs and returns for a leased aircraft equity investor
  • Old vs new aircraft tech: Examining the current depreciation debate
  • Aircraft transition costs and how that impacts IRRs

Impressive suite

10:45

Break

Impressive suite

11:15

Extracting value in alternative aviation asset classes: Regional jets, turboprops, engines

Exploring:

  • Size of the market
  • Levels of liquidity
  • Risk return profile
  • Different asset types available to investors

Impressive suite

12:00

Worst and best picks: Bankers and lessors reveal the highs and lows of investing in aviation

  • How to navigate common pitfalls of investing in aircraft
  • Portfolio type, age, residual exposure, leverage, diversification
  • Where is the market today?

Impressive suite

12:30

Lunch

Impressive suite

13:30

The appraisers: What's it really worth?

Appraisers discuss recent pricing trends and the current market.

Impressive suite

14:00

The Ishka View of 2020 and beyond

  • Understanding the current airline environment
  • Which regions are showing the most growth?
  • How should investors view airline bankruptcies and how avoidable are they?

Impressive suite

14:30

Break

Impressive suite

15:00

More than ECAs: The future of non-payment credit insurance aircraft financings

  • AFIC and its competitors
  • Will ECAs ever meaningfully come back?
  • Aircraft financing guarantees and investor participation

Impressive suite

15:40

The European ABS roadshow

A panel of repeat and new ABS issuers answer investor questions.

  • What will the aircraft ABS of 2020/2021 look like and why should I invest?
  • How well have aircraft ABS withstood airline bankruptcies?
  • What makes you different to other servicers?
  • Taking note: How do European investors view Aircraft ABS E-notes?

Impressive suite

16:20

End of workshop

Please join us at our icebreaker drinks reception at the Lamb & Trotter.

 

Impressive suite

  Aviation: The Asset Aviation: The Newsroom Aviation: Debt Aviation: Equity Infrastructure: Proximo
08:00

Registration

Premium suite

09:10

Ishka welcome

Premium suite

09:15

The European market outlook

  • Where are the European markets in the business cycle currently?
  • What are the short and longer-term risks investors should be aware of?
  • Post Brexit what is the scale of the market now, and in the future?

Premium suite

09:45

Where to invest in 2021, the risks and opportunities

Our panel of issuers will spin the wheel of risk and answer quick-fire questions.

Suggested topics include: Availability of finance structures, ESG compliance, which assets to invest in, interest rate environment, currency issues, green infra etc.

Premium suite

10:30

Break

Premium suite

11:15

Keynote Investor Panel: Deal or No Deal

We take a diverse range of investors and present a series of hypothetical deals for our panel to unpack and analyse.

Deconstructing the investment strategies of investors with varying experience in aviation finance and infrastructure.

  • Which product offers the best relative value in the current climate?
  • Is the aviation and infrastructure market deep enough for European investors?
  • What deal terms will get investors more comfortable with the asset classes?

Premium suite

12:00

Ishka presents the results of the Global Investor Market Survey

Premium suite

12:15

The Great All-Play Debate

Delegates are split into investor groups and tasked with discussing a range of fundamental questions in the market for 2020.

Premium suite

13:00

Lunch

Premium suite

Aviation: The Asset Aviation: The Newsroom Infrastructure: Proximo
14:15

Technically speaking: How maintenance cycles impact aircraft investments

What are the components of an aircraft’s value?How do the relative contrib...

Premium suite

MAX Update: Will the MAX crisis cause an innovation slowdown among OEMs in futur...

How will the reintroduction of the 737 MAX impact leased aircraft demand/supply?...

Premium suite

Direct and co-investment in infrastructure: How is institutional infrastructure ...

Does an increasingly short-term investment climate suit the profile of LP invest...

Premium suite

14:45

Appraisers and asset values: Are we all on the same page?

Where are current market values and lease rates as of today? Is the MAX’s ...

Premium suite

Has the industry done enough to explain where ESG fits in to aviation for invest...

What do investors need from the industry in order to include aviation in their E...

Premium suite

ESG and sustainability in projects – Where does Europe’s infrastructure communit...

Which emerging energy and infrastructure assets are helping European jurisdictio...

Premium suite

15:15

Break

Main room

Aviation: Debt Aviation: Equity Infrastructure: Proximo
15:45

ABS debt: Are airline failures an overstated concern for ABS portfolios?

Facilitators will introduce topics and urge their audience to get involved in t...

Premium suite

A wider universe of aircraft e-note buyers

Facilitators will introduce topics and urge their audience to get involved in t...

Premium suite

Are banks now fully disintermediated by direct lending and the bond market?

Facilitators will introduce topics and urge their audience to get involved in t...

Premium suite

16:15

Are European investors moving away from funds towards direct lending, or outsour...

How far are investors outsourcing their deals to asset managers?How are direct l...

Premium suite

The fallout of closed-end funds: Reversing investors’ negative perception of air...

Understanding the legacy and lessons learnt from aircraft leasing closed end fun...

Premium suite

Subsidy free renewables assets with merchant exposure: Where are the opportuniti...

Zero-subsidy renewables in 2020 and the impact on the merchant marketDeveloping ...

Premium suite

16:45

The aviation road map: Aviation leaders share their vision

  • Which changes will impact the aviation space for the year ahead? Will the industry evolve to adapt?
  • How quickly will investments in current generation tech aircraft become obsolete?
  • How far has the aviation industry so far explored opportunities to drive innovation through technology and data?

Premium suite

17:15

Close of conference and networking drinks

Premium suite

Transaction Economics

Transaction Economics – Aircraft Values and Trading Data

Get real pricing and deals data and dynamic, independent aircraft values from Ishka’s trusted team

Ishka Advisory – Airline Restructuring

We have provided high-level support in business restructuring as well as deep dive analysis on airlines since 1990.

Ishka Insights

Get beyond the headlines with data-driven analysis and the respected Ishka View with Ishka’s daily Insights service

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