Aircraft Leasing

3 days 15-17 May 2017, London UK £3,350.00 + VAT* Download brochure Add to basket
3 days 18-20 Sep 2017, Dublin Ireland £3,350.00 Download brochure Add to basket

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Overview

"The training was excellent and everyone thoroughly enjoyed it. Kenneth is an excellent speaker."

- Past Attendee, Aercap


Nearly all aircraft operated by airlines in the twenty-first century are acquired under a lease.
This course will investigate the nature of a lease, its contents and how it is negotiated from start to finish, beginning with the terms of a letter of intent and finishing with the delivery of the aircraft.


You will learn to identify the issues that really matter during the negotiation process: identifying and allocating risk; maintaining maximum operational flexibility; keeping within market standards; and complying with legal and regulatory requirements.


We will consider the principal provisions of a lease and engage in highly interactive workshops in which we will learn negotiation techniques and strategies to better protect the parties’ position.


This is an essential course that you should not miss!


By attending this practical and highly interactive three day training course, you will:

  • Understand how to complete an aircraft lease - from letter of intent to lease to delivery
  • Learn how to negotiate the key provisions of an aircraft lease
  • Understand the financial risks involved in aircraft leases and how they can be allocated
  • Learn how the provisions of a lease can affect the day-to-day operations of an airline
  • Understand how the provisions of a lease need to be adapted to reflect the legal and regulatory environment
  • Learn to balance commercial flexibility for the lessee with the interests of the lessor
  • Featuring: Highly interactive workshops in which you will learn negotiation techniques and strategies

Past attendees of Aircraft Leasing include:

  • BNDES
  • Airbus SAS
  • Nord/LB
  • Aircastle
  • CIT Aerospace
  • AerCapNorwegian AirShuttle ASA
  • Webber Wentzel
  • Baker & McKenzie LLP
  • Lloyds Banking Group 

Who should attend

This course is ideally suited for:
  • Executives in the aviation finance business
  • In-house counsel
  • Airlines
  • Operating lessors
  • Export Credit Agencies
  • Banks
  • Manufacturers
  • Private practitioners

Instructors

We work with a series of expert instructors, please select the course location of interest to review the credentials of who will be delivering the programme.

London
Kenneth Gray

Kenneth Gray is regarded as a foremost expert in Aviation Finance and Aircraft Leasing. Kenneth trained as a barrister before joining Norton Rose Fulbright, a leading international law firm, in 1986. In 1990 he moved to Paris to found Norton Rose Fulbright’s office there. He was elected to the partnership in 1993 and returned to London in 1999, before retiring from the partnership in 2001. Since then he has continued to work as a consultant at Norton Rose Fulbright in addition to providing legal training. His practice at Norton Rose Fulbright consists primarily in representing airlines and banks, as well as the export credit agencies of several European countries, in implementing complex cross-border finance transactions – and advising them on work outs when the borrower encounters financial problems.

Kenneth has won numerous awards, including being voted one of the top 20 aviation lawyers in the world by the Best of the Best Guide and one of the Hot 100 lawyers in the United Kingdom as voted by The Lawyer Magazine. He has been involved in many ground-breaking transactions over the years, including Jane’s Transport Finance “Aircraft Innovator of the Year”, and the Airfinance Journals’ deal of the year on four occasions. Kenneth is qualified as a solicitor and as an avocat at the Paris bar.

Dublin
Kenneth Gray

Kenneth Gray is regarded as a foremost expert in Aviation Finance and Aircraft Leasing. Kenneth trained as a barrister before joining Norton Rose Fulbright, a leading international law firm, in 1986. In 1990 he moved to Paris to found Norton Rose Fulbright’s office there. He was elected to the partnership in 1993 and returned to London in 1999, before retiring from the partnership in 2001. Since then he has continued to work as a consultant at Norton Rose Fulbright in addition to providing legal training. His practice at Norton Rose Fulbright consists primarily in representing airlines and banks, as well as the export credit agencies of several European countries, in implementing complex cross-border finance transactions – and advising them on work outs when the borrower encounters financial problems.

Kenneth has won numerous awards, including being voted one of the top 20 aviation lawyers in the world by the Best of the Best Guide and one of the Hot 100 lawyers in the United Kingdom as voted by The Lawyer Magazine. He has been involved in many ground-breaking transactions over the years, including Jane’s Transport Finance “Aircraft Innovator of the Year”, and the Airfinance Journals’ deal of the year on four occasions. Kenneth is qualified as a solicitor and as an avocat at the Paris bar.

Venue

London

Central London Hotel Venue

All courses are held at four or five star venues in Central London, Zone 1. We strive to provide you with a training environment of the highest quality, to ensure that the whole learning experience exceeds your expectations.

Your training venue will be confirmed by one of our course administrators approximately 3-4 weeks before the course start date.

Dublin

Dublin Hotel

This programme takes place on a non-residential basis at a central Dublin hotel. Non-residential course fees include training facilities, documentation, lunches and refreshments for the duration of the programme. Delegates are responsible for arranging their own accommodation, however, a list of convenient hotels (many at specially negotiated rates) is available upon registration.

Related Courses

Inhouse


 

Do you have five or more people interested in attending this course? Do you want to tailor it to meet your company's exact requirements? If you'd like to do either of these, we can bring this course to your company's office. You could even save up to 50% on the cost of sending delegates to a public course.

To find out more about running this course in-house:





Our Tailored Learning Offering

If you want to run this course at a location convenient to you or if you want a completely customised learning solution, we can help.

We produce learning solutions that are completely unique to your business. We'll guide you through the whole process, from the initial consultancy to evaluating the success of the full learning experience. Our learning specialists ensure you get the maximum return on your training investment.



We can offer any of our public courses delivered at your office or we can devise completely tailored solutions:


Read more about our offering or complete a call back request to speak to a learning specialist.

 

Agenda

Agendas are localised, please select your preferred location.

Day 1

 
An Introduction to Leasing

  • What is a lease?
  • Operating leases and finance leases compared
  • The essential provisions of a lease
  • Registration, maintenance, insurance, return conditions

 
Overview of the Contents of the Lease

  • The structure of a lease
  • What the different clauses are intended to achieve

 
Letters of Intent

  • What should a LoI contain?
  • What detail does it need it go into?
  • Is it legally binding?
  • Workshop

 
Workshop:
Definitions used in the Lease

  • Some of the more important defined terms and their consequences
  • In what context are they used and why are they important? 
  • What may be negotiated?

 
Representations and Warranties

  • What purpose do they serve?
  • Should they be repeated?
  • Workshop: Negotiating the representations and warranties

 
Quiet Enjoyment

  • Who might be entitled to interfere with the lessee’s quiet enjoyment?
  • What protection can the lessee ask for?

 
 
Day 2

 
Delivery and Acceptance Procedures

  • Inspection procedures 
  • What is meant by “as is, where is”
  • ACG vs. Olympic

 
The Financial Provisions of the Lease

  • The “Hell and High Water” clause
  • Deposits

 
Financial Risk Under the Lease

  • Increased costs
  • Market disruption
  • Indemnities 
  • Workshop

 
Taxes

  • The general tax indemnity
  • Withholding tax
  • VAT and similar taxes
  • What exclusions can be accepted?
  • Workshop

 
Undertakings

  • EU Emission Trading Schemes
  • Eurocontrol and other liens
  • Restrictions on the Operation of the Aircraft
  • Dealing with Sanctions
  • Subleasing
  • Workshop

 
The Cape Town Convention

  • What does it cover?
  • How does it impact on the documentation?

 
Maintenance Obligations

  • To what standards does maintenance need to be performed?
  • Complying with airworthiness directives
  • Cost sharing
  • Payment of Maintenance Reserves

 

Day 3

 
Insurance, Loss and Damage to the Aircraft

  • What insurances are required for the aircraft?
  • How are insurance proceeds paid out?
  • What happens if the aircraft is damaged?
  • Casualty occurrences in relation to engines

 
Events of Default

  • What is the purpose of the event of default clause
  • Some key events of default
  • Specific concerns of airlines
  • What to do following an event of default

 
Contractual Redelivery

  • What should be in the return conditions?
  • What happens if the lessee fails to comply with the Return Conditions

 
Workshop:
The impact of a lease on the business and operations of an airline. Delegates will be asked to consider how a lease might impact on an airline’s business and operational flexibility, including:

  • Wet leasing and dry leasing the aircraft 
  • Changing where the aircraft is based
  • Compliance with EU ETS legislation
  • The consequences of damage to the aircraft
  • Disposal by the lessee of its assets: does it need the lessor’s consent?
  • Changes in the ownership of the lessee
  • Changes in the insurance market- what rights does the lessor have?
  • Customer care arrangements with maintenance providers
  • Establishing whether an event of default has occurred
  • Patent and latent defects in the aircraft
  • When the lessee redelivers the aircraft
  • Dealing with sanctions

 
Feedback and Close

Day 1

An Introduction to leasing
  • What is a lease?
  • Operating leases and finance leases compared
  • The essential provisions of a lease
  • Registration, maintenance, insurance, return conditions Overview of the contents of the lease
  • The structure of a lease
  • What the different clauses are intended to achieve

Letters of Intent

  • What should a LoI contain?
  • What detail does it need it go into?
  • Is it legally binding?
  • Workshop

Workshop: Definitions used in the lease

  • Some of the more important defined terms and their consequences
  • In what context are they used and why are they important?
  • What may be negotiated?

Representations and Warranties

  • What purpose do they serve?
  • Should they be repeated?
  • Workshop: Negotiating the representations and warranties

Quiet Enjoyment

  • Who might be entitled to interfere with the lessee’s quiet enjoyment?
  • What protection can the lessee ask for?

Day 2

Delivery and Acceptance Procedures
  • Inspection procedures
  • What is meant by “as is, where is”
  • ACG vs Olympic

The Financial Provisions of the Lease

  • The “Hell and High Water” clause
  • Deposits
  • Financial risk under the lease
  • Increased Costs
  • Market disruption
  • Indemnities
  • Workshop

Taxes

  • The general tax indemnity
  • Withholding tax
  • VAT and similar taxes
  • What exclusions can be accepted?
  • Workshop

Undertakings

  • EU Emission Trading Schemes
  • Eurocontrol and other liens
  • Restrictions on the Operation of the

Aircraft

  • Dealing with Sanctions
  • Subleasing
  • Workshop

The Cape Town Convention

  • What does it cover?
  • How does it impact on the
  • documentation?

Maintenance Obligations

  • To what standards does maintenance need to be performed?
  • Complying with airworthiness directives
  • Cost sharing
  • Payment of Maintenance Reserves

Day 3

Insurance, loss and damage to the aircraft
  • What insurances are required for the aircraft?
  • How are insurance proceeds paid out?
  • What happens if the aircraft is damaged?
  • Casualty occurrences in relation to engines

Events of Default

  • What is the purpose of the event of default clause
  • Some key events of default
  • Specific concerns of airlines
  • What to do following an event of default

Contractual Redelivery

  • What should be in the return conditions?
  • What happens if the lessee fails to comply with the Return Conditions

Workshop:
The impact of a lease on the business and operations of an airline

Delegates will be asked to consider how a lease might impact on an airline’s business and operational flexibility, including:

  • Wet leasing and dry leasing the aircraft
  • Changing where the aircraft is based
  • Compliance with EU ETS legislation
  • The consequences of damage to the aircraft
  • Disposal by the lessee of its assets: does it need the lessor’s consent?
  • Changes in the ownership of the lessee
  • Changes in the insurance market- what rights does the lessor have?
  • Customer care arrangements with maintenance providers
  • Establishing whether an event of default has occurred
  • Patent and latent defects in the aircraft
  • When the lessee redelivers the aircraft
  • Dealing with sanctions

Feedback and Close

Also by Kenneth Gray: Aviation Finance - reviewing and understanding the financing options and structures on the market. Contact us for details and dates.

Why us


We have a combined experience of over 60 years providing learning solutions to the world’s major organisations and are privileged to have contributed to their success. We view our clients as partners and focus on understanding the needs of each organisation we work with to tailor learning solutions to specific requirements.

We are proud of our record of customer satisfaction. Here is why you should choose us to help you achieve your goals and accelerate your career:

  • Quality – our clients consistently rate our performance ‘excellent’ or ‘outstanding’. Our average overall score awarded to us by our clients is nine out of ten.
  • Track record – we have delivered training solutions for 95% of worlds’ top 100 banks and have trained over 250,000 professionals.
  • Knowledge – our 150 strong team of industry specialist trainers are world leading financial leaders and commentators, ensuring our knowledge base is second to none.
  • Reliability – if we promise it, we deliver it. We have delivered over 20,000 events both in person and online, using simultaneous translation to delegates from over 180 countries.
  • Recognition – we are accredited by the British Accreditation Council and the CPD Certification Service. In an independent review by Feefo we scored 96% on service and 95% on product