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Agenda Overview

Day One: Tuesday, February 27, 2018

8:00AM Registration
9:00AM Chairman’s opening remarks
9:10AM Opening keynote: Sustaining Korean investors’ appetite for aircraft financing
  • Current deal flow and transaction volume in Korea – Where is the market heading?
  • How to channel more capital into aircraft investment?
  • What needs to be done to ensure the continued development of Korea’s aviation market?
9:30AM Presentation: The changing dynamic of aviation commercial lending in Korea
  • Size and volume of deal flow
  • Club deal vs syndications
  • Which asset types do lenders prefer?
  • Lessor vs airline credits
9:50AM Keynote: Fleeting and re-fleeting, trading opportunities for used aircraft
  • Growth in new routes – European and Southeast Asian markets
  • What is Korean Air's fleet planning strategy? Leased vs purchased aircraft
  • Where do airlines see the opportunities in trading used aircraft?
  • New source of capital and cost of financing for widebodies, B777-300ER, B787-9, A330-300, A350-900
Jun Hwan Kim, Head of Financing Team, Korean Air
10:10AM Airlines’ panel: Tapping into Asia market for financing needs
  • Can international carriers tap into Asia's middle class tourist boom and continue the growth of passenger traffic from Asia?
  • New alliances, new financing opportunities with Asian lenders
  • Where do airlines see the opportunities to access capital from institutional investors and Asian lenders?
  • Is the Korean market big enough to accommodate the new LCCs? What are the challenges in obtaining the air operator's certificate?
Christine Rovelli, Vice President - Group Treasurer, Finnair
Maxim Straus, Vice President - Chief Financial Officer, Cargolux Airlines
Luu Duc Khanh, Managing Director, VietJet Aviation Joint Stock Company
10:50AM Networking coffee break
11:20AM Presentation: The driving forces for portfolio acquisition of Chinese lessors
  • The emergence of regional airlines in China  
  • Fierce competition in an low margin environment
  • Chinese lessors’ appetite for portfolio trading – narrowbodies vs widebodies
  • The future of C919 and ARJ 
11:40AM Panel discussion: Insurance markets delivering new aircraft finance solutions
  • What explains the increased demand for insurance-backed products
  • Can AFIC structure serve as an alternative financing tool when ECA funding is reduced?
  • What does insurance-backed financing mean to Korean institutional investors?
Bob Morin, Managing Director, Transaction and Business Development Leader, Aircraft Finance Insurance Consortium, Marsh USA, Inc.
Shin Watanabe, Executive Officer and General Manager, Global Aviation and Maritime Finance Department, Sumitomo Mitsui Banking Corporation (SMBC)
Oliver Geldner, Head of Corporate Finance, Intrepid Aviation
12:20PM Lunch
1:40PM Lessors’ panel: Widebody and narrowbody portfolio trading
  • Fixed or floating lease rate – which is more popular for airlines in the current market conditions?
  • Do lessors see a remarketing challenge for widebodies such as A380 and B777-300ER?
  • With mega funds setting up to acquire mid-age aircraft, what is the appetite of Korean institutional investors for investing in mid-age aircraft?
  • With the B737MAX and A321NEO coming out, how will these new generation aircraft affect the lease rates for used aircraft?
Mark Lapidus, Chief Executive Officer, Amedeo
Beng Kiat Seah, SVP Aircraft Trading, GECAS
Hani Kuzbari, Managing Director, Novus Aviation Capital
Brian McArdle, SVP and Senior Director, Aircraft Trading, Asia Pacific, SMBC Aviation Capital
2:20PM Airbus & Boeing presentations: Next generation of aircraft
  • Order book size
  • Production rate and strategy
  • Supply and demand
Darren Hulst, Managing Director – Northeast Asia Marketing, Boeing Commercial Airplanes
Martin Woods, Regional Head of Marketing, Airbus
2:50PM Presentations: The rise of regional jets
  • What are the best regional jet models: Q400, CS100, CS300, ERJ 145, ERJ190/195, ATR72-600, ATR42-600
  • Where is the demand for regional jets in Asia? What does the future hold for the next generation of turboprops?   
  • Is the maintenance programme cost efficient?
  • Liquidity in the secondary market 
Jean-Daniel Kosowski, Sales Director, ATR
Adam Young, Marketing Director, Asia Pacific, Embraer Asia Pacific
3:35PM Networking coffee break
4:05PM Underwriters’ panel: Rekindle investors’ interest in aircraft investment
  • What are the causes of slowing deal flow? Is it temporary or long-term? How to structure the deals to be more competitive?
  • How to compensate the yield of mezzanine debt investors given the risks they are taking?
  • How to minimize the residual value risk that the institutional investors are exposed to?
  • What is the aircraft type preference for 2018? Is there a shift from widebody to narrowbody aircraft?
Moderator: George Ai, Executive Vice President, Novus Aviation Capital
Jung Soo Lee, Executive Director - Head of IBD HK, NH Investment & Securities (H.K.)
Min Suk Oh, Managing Director of Capital Market and Principal Investments, KB Securities Hong Kong Limited
4:45PM Lenders’ panel: Loan syndication, balloon risks, lessor portfolio financing
  • Opportunities and challenges of engaging in syndication with overseas banks
  • How do you effectively manage balloon risk?
  • Setting up a mezzanine blind fund – a potential solution for low yield?
  • Volume and deal flow in 2018
  • Korean lenders’ appetite for new asset types
Sabri Gmira, Director, Transportation & Offshore, Structured Asset Finance, ANZ Banking Group Limited
Matthew SH KIM, Senior Manager, Int'l Finance Team, Investment Banking Department, KEB Hana Bank
KJ Yang, Head of Project Finance Department I / Transportation Team 2 (Aviation Finance), Korea Development Bank
Joerg Schirrmacher, Head of Transport Finance, Helaba
5:25PM Day one close and cocktail reception

Day Two: Wednesday, February 28, 2018

8:30AM Registration
9:00AM Chairman’s welcome remarks
9:10AM Spotlight: Korean institutional investment criteria

This session will be a discussion of investment objectives including PE versus aircraft investment, the availability of mezzanine products and investing through the cycle.

Bharat Bhise, Chief Executive Officer, Bravia Capital Partners, Inc.
9:40AM Panel discussion: How competitive are JOLCOs as financing tools?
  • How will Japan’s tax reform impact JOLCO transactions?
  • Are JOLCO transactions only accessible by top tier credits? What are the hurdles for Korean airlines to use JOLCOs for financing?
  • How much commercial debt liquidity is available for the JOLCO market?
  • Do investors prefer widebodies or narrowbodies? 
Shin Watanabe, Executive Officer and General Manager, Global Aviation and Maritime Finance Department, Sumitomo Mitsui Banking Corporation (SMBC)
Morio Nishida, Director, Structured Finance, Mizuho Securities Asia Limited
Saori Oshima, Deputy General Manager, Tokyo Century Corporation
Fintan Smyth, Senior Executive Director, FPG Asset & Investment Management Asia
10:20AM Panel: Debt capital market transactions
  • Which DCM products fall into Korean investors' risk/return matrices?
  • Credit vs asset focus: With a stronger emphasis on asset quality, how do you structure a DCM product that taps into the institutional investor base?
  • Are public or private placements more cost efficient?
  • What deal size and asset type are investors looking for?
  • How important are ratings to DCM transactions?
Spencer Ho, Vice President, Capital Market, SKY Leasing
Andy Lai, Managing Director, Head of Origination and Structuring, Asset Finance and Securitisation, Asia Pacific, BNP Paribas
Jared Ailstock, Senior Vice President, Goldman Sachs
11:00AM Networking coffee break
11:30AM Panel: Residual value outlook and lease rate trend
  • A330-300/B777-300ER – residual value outlook
  • A380 – opportunities and remarketing challenges: What are the implications for Korean investors?
  • What is the lease rate trend for widebodies and narrowbodies?
John Vitale, President & CEO, Avitas
Graham Lees, Head of Aircraft Sales, BOC Aviation Limited
John Cunningham, Head of Commercial, Asia Pacific, CDB Aviation
David Tokoph, Chief Operating Officer, Morten Beyer & Agnew
12:10PM Chinese lessors’ panel: Aircraft trading opportunities in Korea
  • What is the potential of Korea as a new destination for aircraft trading?
  • Korean investors' distinct needs and preferences – how to tailor portfolio to their demands? 
  • Developing aircraft asset management capability of Chinese lessors
  • How do Chinese lessors see the Korean aviation market evolving in the next three to five years?
Huang Bo, Chief Commercial Officer, CMB Financial Leasing Co
Haiyan Zheng, Director, Ping An International Financial Leasing Co., Ltd.
Ryan Guo, Mainaging Director, Aviation Department, Zhongyuan Aviation Leasing co.,Ltd
12:50PM Accelerate the long-term development of the Korean aviation financing market
  • Is Korea suitable for home-grown lessors or home-grown aircraft tax lease products?
  • Innovation on the deal structure – how to make deal structures more cost efficient?
  • Feasibility of establishing domestic aircraft asset management entities to serve the interests of Korean investors
  • Transform Korean financiers from credit focused to asset-based lending
Jae Hoon Jo, Director, Structured Finance Team, Heungkuk Asset Management
Justin Lee, Head of Aviation Finance, Financial Advisory, Deloitte Korea
Clarence Leung, Asset Finance and Leasing Tax Partner, PricewaterhouseCoopers Limited
1:30PM Chairman’s closing remarks and close of the conference