Aircraft Leasing

3 days 9-11 Nov 2016, Dublin Ireland £3,350.00 Download brochure Add to basket

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"The training was excellent and everyone thoroughly enjoyed it. Kenneth is an excellent speaker." - Past Attendee, Aercap

Course Overview:

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

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

Past attendees of Aircraft Leasing include:

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

Who should attend


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.

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 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


We can bring this course to your company's office.

If you simply 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. Our tailored learning solutions are designed specifically for your organisation’s needs.

We’ll be here to support you every step of the way. From the initial consultancy through to evaluating the success of the full learning experience. We'll ensure you get the maximum return on your training investment.

Find out more


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
– The general tax indemnity
– Withholding tax
– VAT and similar taxes
– What exclusions can be accepted?
– Workshop
– EU Emission Trading Schemes
– Eurocontrol and other liens
– Restrictions on the Operation of the
– Dealing with Sanctions
– Subleasing
– Workshop
The Cape Town Convention
– What does it cover?
– How does it impact on the
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

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