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Airfinance Journal: Aircraft lease securitisation (Sponsored by TMF Group)

Securitisation can be viewed as a financing tool or a mechanism for selling aircraft lease portfolios. Since the 1990s aircraft asset-backed securitisation has become a common financial practice. While securitisation has thrived in the US and Europe, securitisation market for Asian issuers has been underdeveloped until the first Asian aircraft securitisation took place in 2015. Will securitisation gradually become a dominant investment tool in the Asia-Pacific aviation industry?
As the aviation finance market continues to evolve, combined with continued favourable interest rates, aircraft asset-backed securitisation is becoming increasingly attractive as an investment option for financing portfolios of leases and loans relating to aircraft and aircraft engines.

This one-hour webinar will bring together industry professionals to examine the transaction structure of aircraft asset-backed securitisations, discuss the corresponding benefits and concerns and identify the associated business opportunities.

Key discussion questions:
•Would further aircraft lease securitisation activity be a sensible choice for Asian aircraft leasing companies?
•How does asset composition, so the inclusion of new, mid-life and older aircraft, and commercial and regional aircraft affect securitisation transaction execution?
•What are the legal concerns when we structure securitisation transactions in Asia? Specifically, how would risk retention rules facilitate the transactions?

Moderator
Kevin Butler, Managing Director for UK & Ireland, TMF Group

Panelists
Eric Blau, Treasurer, Aviation Capital Group
Drew Fine, Partner, Milbank
Johnny Lau, Chief Consultant, PwC Aviation Business Services
Weili Chen, Head of Capital Markets Aircraft Financing, Standard Chartered
Recorded May 15 2019 63 mins
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Presented by
Eric Blau, Kevin Butler, Weili Chen, Drew Fine and Johnny Lau
Presentation preview: Airfinance Journal: Aircraft lease securitisation (Sponsored by TMF Group)

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  • Airfinance Journal: Aircraft lease securitisation (Sponsored by TMF Group) Recorded: May 15 2019 63 mins
    Eric Blau, Kevin Butler, Weili Chen, Drew Fine and Johnny Lau
    Securitisation can be viewed as a financing tool or a mechanism for selling aircraft lease portfolios. Since the 1990s aircraft asset-backed securitisation has become a common financial practice. While securitisation has thrived in the US and Europe, securitisation market for Asian issuers has been underdeveloped until the first Asian aircraft securitisation took place in 2015. Will securitisation gradually become a dominant investment tool in the Asia-Pacific aviation industry?
    As the aviation finance market continues to evolve, combined with continued favourable interest rates, aircraft asset-backed securitisation is becoming increasingly attractive as an investment option for financing portfolios of leases and loans relating to aircraft and aircraft engines.

    This one-hour webinar will bring together industry professionals to examine the transaction structure of aircraft asset-backed securitisations, discuss the corresponding benefits and concerns and identify the associated business opportunities.

    Key discussion questions:
    •Would further aircraft lease securitisation activity be a sensible choice for Asian aircraft leasing companies?
    •How does asset composition, so the inclusion of new, mid-life and older aircraft, and commercial and regional aircraft affect securitisation transaction execution?
    •What are the legal concerns when we structure securitisation transactions in Asia? Specifically, how would risk retention rules facilitate the transactions?

    Moderator
    Kevin Butler, Managing Director for UK & Ireland, TMF Group

    Panelists
    Eric Blau, Treasurer, Aviation Capital Group
    Drew Fine, Partner, Milbank
    Johnny Lau, Chief Consultant, PwC Aviation Business Services
    Weili Chen, Head of Capital Markets Aircraft Financing, Standard Chartered
  • DFTP and Hong Kong – Identify an efficient jurisdiction for aircraft leasing Recorded: Nov 6 2018 63 mins
    Tejaswi Nimmagadda, King & Wood Mallesons | John Timpany, KPMG | Liu Yi, Rui Bai Law Firm | Kevin Butler, TMF Group
    The past decade has been a golden age for China’s aircraft leasing industry. FlightGlobal research shows that today Chinese capital accounts for over 28% of the total capital deployed by aircraft lessors. Eight China-based leasing companies are listed on the Airfinance Journal Leasing Top 50, which ranks lessors by fleet value.

    Choosing the right geographical location for aircraft leasing structures plays an essential in lessors’ strategic planning. While Ireland remains the number one jurisdiction for structuring aircraft transactions, other jurisdictions have been introducing new regimes to attract aircraft leasing business. Examples in Greater China include the Dongjiang Free Trade Port (DFTP) and the Hong Kong SAR Government.

    Founded in 2009, the DFTP has adopted preferential policies to allow DFTP-based lessors to enjoy tax rebates, lease payments in foreign currency and more efficient cross-border operations. As of June 2018, the DFTP has completed the delivery of 1,200 aircraft worth over RMB 450 billion, according to DFTP data. Meanwhile, Hong Kong is quickly catching up.

    In June 2017, Hong Kong’s legislature passed a tax reform bill lowering the effective tax rate for aircraft lessors to 1.65%. Within six month of the reform, ICBC Financial Leasing had launched its Hong Kong leasing platform and successfully closed a transaction under the new tax regime.

    This one-hour webinar will bring together industry experts to examine how lessors can take advantage of the benefits of the DFTP and Hong Kong.

    Key discussion points include:
    - How important is tax in choosing a location for an aircraft leasing platform?
    - What differentiates the DFTP model from other FTZs in China?
    - How the aircraft leasing industry went about the Hong Kong tax regime and what lies ahead?
    - How can DFTP and Hong Kong complement to create greater value to the industry?
Your essential intelligence resource for aviation finance
Airfinance Journal is a market leading financial publication of the global aircraft and aviation business. Published continually since 1979, it has been at the forefront of supporting and informing aviation professionals. The Journal includes the latest news, analysis and data relating to the financing of airlines, aircraft leasing companies and manufacturers.

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  • Title: Airfinance Journal: Aircraft lease securitisation (Sponsored by TMF Group)
  • Live at: May 15 2019 8:00 am
  • Presented by: Eric Blau, Kevin Butler, Weili Chen, Drew Fine and Johnny Lau
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