New York School of Aviation Finance 2013

Co-Chair of the Aviation Team John Pritchard and Partners Marc Antonecchia, Richard Crowley, Phil Durham, John Toriello, Tom Zimmer, Bill Piels, Audrey Sung and Jim Rollins will speak at the New York School of Aviation.

Mr. Pritchard will speak on the following panels.

Market Overview

• reviewing airline performance over the past year: indicators and trends
• market consolidation and competition
• outlook for the year ahead: Market development predictions
• evaluating the most popular forms of liquidity in 2013/14

Case Study: Teams and Explanations

• Delegates will be divided into groups of varied professional backgrounds and will begin work on case studies. These are intended to provide a practical insight into the fundamentals of structuring an aircraft finance transaction, through the development of a financing proposal. The first day’s training/lectures will provide the fundamental information required initially to outline the proposal and generate ideas. Faculty members will be available during these preliminary discussions to guide delegates and answer any questions.

The Effects of the Cape Town Convention on Daily Aircraft and Engine Finance

• when is the Cape Town Convention applicable to a sale, lease or financing of an aircraft or engine
• what should a creditor or contract party do to protect itself under the Convention
• what special terms should be contained in aircraft financing contracts due to the Convention
• bankruptcy options and remedies
• focus on Canada as a new contracting state

Mr. Crowley will join Mr. Pritchard and speak on the following panel:

Transaction Structures, Documentation and the Principles of Tax Based-Leasing

• Internal Revenue Service ‘true lease’ guidelines
• issues regarding depreciation
• like-kind exchanges
• lessor analysis – yield optimization and return
• lessee analysis – present value benefit
• lease vs. buy analysis

Mr. Piels and Mr. Rollins will speak on the following panel:

What Happens When it all Goes Wrong? [US Market]

• key considerations and new strategies in a downturn
• negotiations with creditors
• legal constraints
• rescheduling debt
• review of the relevant default and remedy provisions
• do restructurings work
• U.S. bankruptcy law

Mr. Durham, Mr. Antonecchia and Mr. Toriello will speak on the following panel:

Restructuring/Repossession Case Study [Cross-Border]: Mexicana Airlines

• summary/overview of repossession and enforcement actions
• form of restructuring documents used by different lessors
• consequences of Concurso Mercantil/Chapter 15 filings
• efficacies of Cape Town Convention
• hostile and amicable repossession scenarios
• considerations for future leases

Mr. Zimmer and Ms. Sung will speak on the following panel:

Operating Leases: Explanation and Update

• comparing operating leases with straight financing
• overview of typical terms
• basics of maintenance reserves
• basics of return conditions
• assessing the latest trends 

Operating Leases: Practical Application; Lessor - Lessee/Seller - Purchaser's Views on the Process of Lease Deliveries and Returns