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Aircraft Masterclass 2019 Agenda

18.00 Pre-course drinks and introduction

19.00 Dinner at Wotton House

Day one: Buying and selling aircraft

 

09.00 Introduction to the course
How good brokers get deals closed

Alasdair Whyte, Corporate Jet Investor

09.50 Anatomy of a transaction
Negotiating the letter of intent and the purchase agreement
Pushing through pre-purchase inspections
Exporting and Importing aircraft
Delivering and closing
Cleaning up – not finished on closing day

Oliver Stone, Colibri Aircraft

10.20 New versus old
The differences between selling new and used aircraft
Are there still different buyers for each?
Selling one series versus selling them all

Trevor Lambarth, Guardian Jet

10.55 Key legal aspects of the sales process
Essential elements of the LOI

Long form versus short form
Negotiating the deposit and escrow
The aircraft sale and purchase agreement
Getting deals to completion

Mark Bisset, Clyde & Co.
David Hernandez, Vedder Price

11.00 Case study: Negotiating a Letter of Intent

12.30 Lunch

13.30 The joy of the pre-purchase inspection
Airworthy vs unairworthy
Who pays for what?
The C-word: What causes corrosion and why is it an issue?

Brendan Lodge, JSSI Advisory
Stuart Kirkwood, TAG Farnborough Maintenance Services
Stuart Forster, JSSI Technical Services

14.45 Importing aircraft into the EU, VAT and other issues
Aircraft – the tax universe
Customs duties
Key VAT Concepts
Main structuring options
Temporary admission relief
Leasing options
Case studies

Hugo Jenney, Stephenson Harwood

15.30 Afternoon tea

16.00 Choosing an aircraft registry
The key factors to consider:
The Aircraft
Cost and Service
Use and Operation
Ownership Structure
Financing
Political environment

Heather Gordon, Martyn Fiddler Aviation
Graeme McLellan, Stephenson Harwood

16.45 Mitigating Risks – Maintenance Programmes
What do you need to think about?

What should you be tracking?
What do maintenance programmes protect?
How maintenance affects asset values

James Carroll, JSSI 

17.30 What is an aircraft worth?
The different approaches for valuing aircraft

What affects valuations
Using valuation guides

Brendan Lodge, JSSI Advisory Services

18.30 Day One recap

18.30 BBQ at Wotton House

Day two: Aircraft finance

 

09.00 Introduction to Day two

Alasdair Whyte, Corporate Jet Investor

09.15 The rules of financing aircraft
Business jet finance versus commercial aircraft finance
How institutions choose their sweet-spot
Competing with other asset classes
Minimising risk

Chris Miller, Shearwater Aero Capital
Ford von Weise, Citi Private Bank

10.15 Why aircraft transactions are a team sport
Choosing the right team
Keeping all the parts moving
Paying cash versus financing
The first questions: How will you use the aircraft? Where will you use it? Who will use it?

Aoife O’Sullivan, The Air Law Firm

11.00 Legal considerations for aircraft debt and lease finance
Structuring loan and lease agreements

Personal and corporate Guarantees
Aircraft Mortgages and security Assignments

Eddie Gross, Vedder Price

12.30 Lunch

13.15 Mitigating risks: Using Tripartite agreements
The importance of the manager relationship

Sub-leases and quad-partite agreements
Key provisions and negotiation points
Case study: Enforcing a tripartite agreement 

Derek Watson, Vedder Price

14.30 Afternoon refreshments

15.00 Key insurance issues
What is insurance?
How aviation insurance works
What covers are available to what risks?
Insurance as a financing tool

Zohar Zik, HFW

15.45 Repossessing aircraft
Identifying potential risks

Managing risks
The importance of planning
Case study: War gaming a hostile repossession

David Hernandez, Vedder Price

17.00 Closing comments Alasdair Whyte, Corporate Jet Investor

17.30 Dinner & drinks at The Wotton Hatch pub