TARGET AUDIENCE
The training is suitable for professionals working in the aviation industry and may be of particular interest to:
- Legal counsels and advisors
- Aircraft leasing managers
- Airline corporate affairs executives
- Fleet trading managers
- Leasing and insurance analysts
- Lawyers seeking a acquire a specialisation in or refresh their knowledge of aircraft financing and acquisition and airline contract law.
1. Industry Overview
- Operators (scheduled airlines, non-scheduled airlines etc.) and the financial issues facing airlines.
- Aircraft manufacturers and the classification of aircraft.
2. Commercial Environment
- Aircraft prices and necessity for airlines to source external funding.
- Airline’s financial statements – balance sheet & income statement.
- Financial ratios, concept of off-balance sheet accounting, methods of depreciation, concept of deferred tax .
- Sources of funding – capital markets, export credit agencies, manufacturer’s assistance and securitization.
3. Acquisition of Aircraft by Leasing
- Finance leases, operating leases, leveraged leases, Irish leases, synthetic leases and sale and leaseback transactions.
4. Security devices
- Chattel mortgages, conditional sales, leases, ETCs.
B. Airline Contracts*
(*Course presupposes prior knowledge of the principles of contract law)
- Sources of airline contract law.
- Legal and regulatory backdrop.
- Categories of Airline Contracts.
- Structure and elements of a Commercial Contract.
A. Aircraft Purchasing & Leasing
1. Capital Markets
- Public markets.
- Private placement.
- 2. Export Credit Agencies
- Ex-Im Bank of the United States.
- Export Credits Guarantee Department of the United Kingdom.
- Export Credit Agencies of other countries.
3. Aircraft Securitization
- Technique of securitization.
- Aircraft securitization.
4. Specific contractual provisions in contracts
- Insurance, maintenance and default.
5. Overview of purchase and lease agreeements
- Commercial terms and general terms.
- Analysis of Aircraft Purchase Agreement (new aircraft).
B. Airline Contracts
1. Contracts between Airlines.2. Marketing and Distribution Contracts.
3. Intellectual Property Contracts.
4. Operational Contracts.
5. Aircraft Related Contracts.
A. Aircraft Purchasing & Leasing
1. Case studies in relation to the financing of aircraft.
2. Analysis of Japanese leveraged lease and identification of documentation typically exchanged in use of such a structure.
3. Analysis of Aircraft Leasing Agreement.
4. Analysis of Aircraft Purchase Agreement (used aircraft).
B. Airline Contracts
1. Drafing of precedent clauses in respect of selection of airline contracts.
ALTC Level I - Exams