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Airfinance Journal China School 2019首屇中国航空金融学院11 & 12 June 2019 • 6月11日至12日 Airfinance Journal China 2019 中国航空金融年会13 & 14 June 2019 • 6月13日至14日 Airfinance Journal China Awards 2018中国航空金融和租赁颁奖典礼13 June 2019 • 6月13日 The St. Regis Shanghai Jingan, China

https://events.airfinancejournal.com/event/a01D000001DHVWqIAP/china-school-of-aviation-finance-2019

http://bit.ly/ChinaSchool #AFJChinaSchool

Airfinance Journal China School 2019首屇中国航空金融训练课程11 & 12 June 2019 • 6月11日至12日

In the inaugural Airfinance Journal China School, we will bring together over 15 senior industry professionals to share valuable market updates and equip participants with practical knowledge across spectrums of aviation finance and leasing.

During the two-day training, curriculum will cover but not limited to aircraft valuation methodologies, risk management in aircraft financing, fleet management tactics and equity performance assessment.

This intensive course is designed for aviation new joiners who wish to gain familiarity with the industry quickly or professionals who hope to refresh existing knowledge.

Day 1: Tuesday 11th June

0815 Registration

0910 Welcoming remarks by Airfinance Journal

0915 Overview of aircraft leasing market• Background of aircraft leasing• Industry fundamentals and key drivers• Rise of Chinese lessors and their future growth path• Aircraft valuation and residual value risk

Lune Wang, Director and Deputy General Manager, Comsys (Tianjin) Leasing Company

0955 Risk management for lessors• Risk management framework• Asset risk• Airline credit risk and evaluation• Balance between risk & return• Liability risk • Jurisdictional risk and repossession considerations Andrew Weixi, Executive Director, Aviation Leasing Department, CMB Financial Leasing

1035 Networking break

1105 Airline strategy and management• Evolving airline business models• How do airlines’ business models affect the selection of aircraft?• Key considerations for leasing vs buying • Gaining competitiveness through mergers and acquisitionsDavid Yu, Managing Director, Chief Investment Officer, and Co-Founder, Inception Aviation Holdings

1145 Remarketing of aircraft • Asset management strategies for airlines and lessors• Remarket procedures, documentation and records • Negotiation management• Single vs portfolio asset remarketing • Case studies• Remarketing challenges in 2019Vincent Lam, SVP Asia Pacific – Aircraft Remarketing, Air Partner

Chinese / English simultaneous translation will be provided中英文同声传译

1225 Lunch

1400 Understanding the engine as an asset class • The engine leasing market • The business model • The importance of engine maintenance • Residual values and exit strategies • The engine OEMs in the aftermarket Shaojun Zhu, CFM Marketing Director, Greater China, GE Aviation

1440 How do lessors choose a tax efficient jurisdiction for aircraft leasing• Latest developments in tax treaties• Evolving tax regimes of tax efficient jurisdictions• Key considerations for choosing a tax efficient jurisdiction for

registration• Typical structures of the transactions • Taxation in cross-border leasing

Pieter Burger, Partner, Financial Services Tax, Deloitte

1520 Networking coffee break

1550 The application of PRC bankruptcy law in aircraft financing and leasing in China• Will a default ever happen in China?• Lessors’ and lessees’ rights• Liability – lessors vs. lessees• Termination of lease term and dispute resolutionYi Liu, Partner, Rui Bai Law Firm

1630 Dispute resolutions• What is a dispute?• Documenting dispute resolution procedures• Choice of governing law• Resolving disputes• Enforcing securities• Cape town treaties and repossession• Recent case study

Jackson Chow, Partner, Bryan Cave Leighton Paisner

1710 End of day one

Course leader:

http://bit.ly/ChinaSchool

http://bit.ly/ChinaSchool #AFJChinaSchool

Airfinance Journal China School 2019首屇中国航空金融训练课程11 & 12 June 2019 • 6月11日至12日

Day 2: Wednesday 12th June

0830 Registration

0850 Introduction of course by course leader • Welcoming note• The airline industry today• Key drivers of air transport

Pierre Briens, Managing Director, Head of Aviation, Transportation Sector, Investment Banking Asia Pacific, BNP Paribas

0920 Managing the risks in aircraft financing • Credit risk: Assessing the solvability of an airline to meet its LT

debt and lease obligations• Asset risk: Understanding liquidity, life cycles and market values of

aircraft and engines• Structural risks: Getting LTV, security package and structural cash

flows right• Repossession & remarketing risk: Legal & practical considerations


1000 A focus on commercial debt: The core option for most air-lines & lessors • Financing menu for airlines and lessors • Secured vs unsecured debt • Financing airlines vs lessors• Single aircraft vs portfolios• Managing contingent currency and interest rate risk• PDP financing

Vivien Guo, Vice President, Transportation Sector, Investment Bank-ing Asia Pacific, BNP Paribas


1100 Debt capital markets • Transaction, private vs public placements• Senior unsecured and secured notes • ABS and EETCs• ECA guaranteed bondsAndy Lai, Managing Director, Head of Origination & Structuring, Asset Finance & Securitisation, Asia Pacific, BNP Paribas

1130 Derivatives for the aviation industry • Interest rate risk: Fixed vs floating• Fuel price volatility • Currency risk Brian Tsoi, Managing Director, Head of Corporate FXLM Sales China, Global Markets, BNP Paribas

1200 Japanese operating lease with call option• JOLCO fundamentals• Key considerations• NK vs TK investors • What will happen tomorrow?

Norio Besshi, Director, Optimization, Structured Leasing & Transpor-tation, BNP Paribas

1230 Lunch

1350 Case Study: Bidding on an airline’s RFP This is an interactive case study inspired by real cases. Guided by the speakers, the audience will be split into groups to make a bid and win an airline RFP.

The objective of the Case Study is to put the participants in an Avi-ation Banker’s shoes during the entire RFP process with an airline. In order to win the mandate, each team will have to juggle with the requirements imposed by airline on the transaction structure, their internal constrains and the competition.


Vivien Guo, Vice President, Transportation Sector, Investment Bank-ing Asia Pacific, BNP Paribas


1540 Distribution of aviation assets to the bank and fixed income markets• Reason for distributing aviation assets• Finding liquidity and matching it with the appropriate risk profile• Recent dynamics on the loan market

Alexis Postel-Vinay, Head of Loan & Structured Credit Syndicate, Asia Pacific, BNP Paribas

1620 M&A and IPOs in the aviation sector • Types of M&A deals• Common tension points between buyers and sellers• Why do airlines IPOs• Typical valuation methodsSylvain Magne, Managing Director, Head of Advisory and Capital Markets, Transportation & Infrastructure Sector, Investment Banking Asia Pacific, BNP Paribas

1700 Cape Town Convention – why is it one of the key internation-al treaties affecting aviation

• What is Cape Town Convention• Cape Town Convention’ advantages to aircraft financiers, lessors

and airlines• Insolvencies and default remedies• How has it evolved over the last decade?

Paul Ng, Partner, Milbank

1740 Course summary and close of day two


http://bit.ly/ChinaSchool

airfinancejournal.com/ChinaAF #AFJChina

Airfinance Journal China 2019 中国航空金融年会13 & 14 June 2019 • 6月13日至14日


Air passenger traffic volume in China has grown extensively and the country is expected to dominate the world’s aviation market by 2022. Slowing economic growth, escalating fuel prices and heightened customer expectations are some reasons for increasingly fierce competition within the aviation industry. Join us at Airfinance Journal China 2019 to identify business opportunities and explore solutions to the challenges below:

› How will trade uncertainty affect the aviation industry in China?

› What are the implications of rising fuel price for airlines fleet planning strategies?

› What is the outlook for various sources of capital available in the market?

› How can Chinese lessors and airlines prepare for currency turbulence?

› Will we see more Asian and Chinese lessors making use of aircraft securitization?

40%

27%

8%

9%

4%4%

4%

2% 1%

Lessor

Investor Asset management firm Apprasier

Consultancy Trader Rating agency

Government agency Law firm Servise provider

Airline Bank OEM Advisory firm

2018 Attendees By Sector Our two days programme will bring together over 700 senior executives from airlines, leasing companies, financial institutions and investment houses to examine the most pressing issues and opportunities of the aviation finance landscape with at least 62% of senior executives and their direct reports.

Over 44 airlines now registered for Airfiannce Journal China:

• Air Bridge Cargo Airlines• Air Canada• Air China• Air Macau• Air Premia• Airfrance/KLM• Cathay Pacific Airways• Chengdu Airlines• China Eastern Airlines• China Express Airlines• China Southern Airlines• Flynas Company• Frontier Airlines• Guangdong Longhao Airlines• Hainan Airline

• Himalaya Airlines• Hong Kong Airlines• IndiGo Airlines• Jet Airways• Jiangxi Airlines• Juneyao Airlines• Korean Air• Kunming Airlines• Lufthansa• Norwegian Air Shuttle• Pan Pacific Airlines• Red Air• SF Express• Shandong Airlines• Shenzhen Airlines

• Sichuan Airlines• Sino-LAC Airlines• Spring Airlines• Star Jet China• Suparna Airlines • Tianjin Airlines• TransAsia Airways• Turkish Airlines• Uni-Top Airlines• Volga-Dnepr Group• West Wind Aviation Group of Companies• XiamenAir• YTO Cargo Airlines• Zhongzhou Airlines





Day 1: Thursday 13th June

0800 Registration and refreshments

0905 Chairman’s opening remarksLi Ling, Global Head of Aviation, Bocomm Leasing

0915 Briefing: The state of China’s aviation economy• The impact of macroeconomy on the aviation industry in China• How will trade uncertainty affect the aviation industry in China?• Analysis and forecast of passenger and cargo traffic flowsModeratorLaura Mueller, Managing Director, Airfinance Journal SpeakerGeoffrey Jackson, Executive Director, US-China Aviation Cooperation Program (ACP)

0935 Keynote presentation: The next ten years• Financial performance of Chinese airlines• Airline credit risk• The internationalization of Chinese lessors• Managing the upcoming aircraft redelivery bow waveSun Lei, Senior Vice President, Bocomm Leasing

0955 Keynote presentations: The next ten yearsA look at the history of the Commercial Aviation Leasing industry in China and an outlook for its future within the global market Peter Chang, Chief Executive Officer, CDB Aviation


1050 Keynote presentationLi Peng, Deputy CEO, ICBC Financial Leasing

1110 Airlines’ perspectives • Is air travel demand maintaining increasing momentum? • What are the implications of rising fuel price for airlines fleet

planning strategies?• What is the development path for newly established regional

airlines? ModeratorLaura Mueller, Managing Director, Airfinance JournalPanelistHon Lam, General Manager, Hong Kong and Southern China, Air CanadaLi Bing, Chief Financial Officer, Juneyao Air Chen Ke, Chief Financial Officer and Secretary of Board, Spring Airlines

1140 In conversation: Bringing C919 to the market• Order books and delivery schedule• Where does C919 fit on the market? • How can airlines finance C919s?ModeratorLaura Mueller, Managing Director, Airfinance JournalPanelistWang Ke, Assistant GM of Marketing and Sales Department, COMAC David Yu, Managing Director and Chief Investment Officer, Inception Aviation HoldingsCharles Zhou, Executive Director, Aviation Finance, Standard Chartered Bank

1210 Presentation by KPMG: How is US tax reform affecting Chinese leasing companies?Becky Wong, Director, KPMG

1235 Lunch

1405 InvestHK PresentationKaren Mak, Senior Manager, InvestHK

1420 Panel discussion: Challenges of lessor financing in the current market condition• What is the outlook for various sources of capital available in the

market? • How to cope with airline credit risks• How the latest aircraft and engine issues are affecting business

operationsModeratorBrian O’Callaghan, Partner, Aircraft Leasing Audit, DeloittePanelistBob Roy, Managing Director, Aircraft Financing Solutions Group, Aviation Capital GroupManuel Cordero, President & CEO, Cusco AviationEamonn Forbes, Chief Commercial Officer, FPG Amentum Anders Solem, Managing Director & Head of Marketing, China and North Asia, Nordic Aviation CapitalKenneth Loo, Senior Vice President, Novus Aviation Capital


1535 Panel discussion: Passing through currency turbulence• Are we seeing a trend of lessors accessing financing from the

capital market? • Loan syndication between international and Chinese banks• What is the outlook of the USD/CNY exchange rate?• How can Chinese lessors and airlines prepare for currency

turbulence? ModeratorLaura Mueller, Managing Director, Airfinance JournalPanelistJane Sun, Director, Transportation & Offshore, Structured Asset Finance, ANZNikolai Lvov, Director, Global Aviation – Asia Pacific, CitiSandra Chen, Managing Director, Fontainburg Aviation CapitalJasper Tan, Head of Aviation Finance, Asia Pacific, NORD/LB

1620 Mega banks’ panel• Interpretation of foreign exchange policies and their impact on

lessors’ fundraising activities• How will Chinese mega banks support C919 acquisition?• Diversification of domestic financing toolsModeratorZhu Limi, Assistant General Manager, Financial Markets Department, Minsheng Financial LeasingPanelistZheng Haitao, Senior Manager, Transportation, Corporate Banking Department, Bank of China Long Fei, Deputy Director, Project Appraisal Department I, China Development BankTerry Yang, General Manager, Aviation Finance, Global Finance Department, ICBC

1645 Close of day one and cocktail reception

1830 Reception for Airfinance Journal China Awards Gala Dinner

1930 Airfinance Journal China Awards Gala Dinner





Day 2: Friday 14th June

0830 Registration and refreshments

0900 Chairman’s opening remarks

0905 In conversation with Airbus and Boeing • Estimated aircraft demand from the China market• Orders and delivery schedule• How new generation models fit into Chinese airline and lessor

fleets

ModeratorLaura Mueller, Managing Director, Airfinance JournalPanelistGong Hui, Marketing Director, China, Airbus Richard Wynne, Managing Director – China Marketing, Boeing Commercial Airplanes (BCA)

0935 Presentation: Regional aircraft and turboprop updatesWang Qi, Chief Representative, China, ATR

0950 Engine OEM presentations• Features and reliability of new generation engines• Production rate• Cost-efficiency of engine programmes

ModeratorLaura Mueller, Managing Director, Airfinance JournalPanelistJustin Phelan, Vice President Marketing, Engine Lease Finance Corporation Shaojun Zhu, CFM Marketing Director, Greater China, GE AviationPaul Finklestein, Vice President, Marketing, Pratt & WhitneySarah McLaren, Vice President – Customers, Rolls-Royce


1055 Chinese lessors’ panel • How to differentiate between Chinese and international lessors?• What risks and challenges do you foresee in the coming years?• How to prepare for the winter and cope with the USD/CNY

currency risks?

ModeratorLaura Mueller, Managing Director, Airfinance JournalPanelistNick Seah, Head of Commercial, Greater China & North Asia, CDB Aviation Alfred Wang, Marketing Director of Aviation Finance, CIB LeasingMa Jie, Executive Director, CMB Financial Leasing Lune Wang, Director and Deputy General Manager, Comsys (Tianjin) Leasing CompanyHu Xige, Director, Aviation Department, Everbright Financial Leasing

1135 Panel discussion: The latest development on portfolio securitization • How competitive is asset securitization compared to other aircraft

financing options?• Is maintaining a high investment grade rating important?• Investor appetites and preferences• Will we see more Asian and Chinese lessors making use of aircraft

securitization?

ModeratorKevin Butler, Managing Director for UK & Ireland, TMF GroupPanelists Paul Ng, Partner, Milbank Clarence Leung, Asset Finance and Leasing Tax Partner, PwCWeili Chen, Head, Capital Market Aircraft Financing, Standard Chartered Bank

1205 Chairman’s closing remarks and followed by lunch


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airﬁnance journal china school 2019 首屇中国航空金融学院 中 … · ation banker’s...

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airﬁnance journal china school 2019 首屇中国航空金融学院中 … · ation banker’s...