Diploma in Aviation Leasing and Finance

On completion of this training programme, participants will have:

• An excellent understanding of the key legal issues pertaining to the sale and lease of aircraft;
• A detailed understanding of the finance structures involved, how to finance an aviation transaction, and funding available;
• A thorough knowledge of the key regulatory issues pertaining to aviation;
• An in-depth knowledge of the legal issues relating to key aviation matters, such as engines, maintenance reserves, security, taxation, insurance, records, and repossession;
• A familiarity with the key legal and financial documents and structures in aviation leasing and finance transactions;
• Confidence in dealing with aviation issues that arise in practice – be it from a lender, lessor, lessee, or airline.

Programme Structure and Approach to Learning

Ireland is internationally recognised as the global hub for aviation leasing and finance, with each of the top ten global aircraft lessors enjoying a presence here. Half of the world’s fleet of leased aircraft is owned, leased or managed in Ireland. The major industry players have been attracted by Ireland’s stable political regime, membership of the EU, favourable time zone, talented workforce, not to mention our legal and regulatory advantages. In addition, Ireland’s network of over 60 double tax treaties, combined with the absence of withholding tax on aircraft lease rentals and a corporate tax rate of 12.5%, make Ireland a commercially attractive place to set up and run an aircraft leasing company.

This diploma provides comprehensive coverage of the key aspects of the aviation leasing and finance industry. It aims to deliver an in-depth analysis of the core legal and practical issues that parties typically encounter in aircraft leasing and finance transactions. The teaching faculty for this diploma comprises a fantastic array of world-renowned legal practitioners from Ireland, the UK and the USA, along with leading aviation industry specialists.

The Diploma in Aviation Leasing and Finance Law programme is based on the following module scheme and covers key themes as listed below:

Module 1: Introduction to the aviation industry

• Origins of aviation industry in Ireland
• Profile of aviation industry 2018
• Reasons for development of Ireland as aviation hub
• Analysis of main industry players in the sector
• Overview of regulatory framework

Module 2: Purchase and Leasing Aircraft

• Reasons for investing in aircraft
• Aircraft operating lease agreements and key clauses
• Purchasing aircraft – the practical considerations
• Relevant purchase documentation
• Delivery of aircraft – acceptance certificates, relevant clauses
• Trading aircraft

Module 3: Aviation Finance

• Commercial debt financing for aviation
• Analysis of key capital markets structures
• PDP financing from a leasing company and bank perspective
• Analysis of typical Expert Credit Agencies structure (ECA)
• Function of the Export-Import Bank (US) and Irish Stock Exchange
• Typical security taken over aircraft.

Module 4: Regulatory environment

• Role of Irish Aviation Authority
• The Chicago Convention (Art.83 bis), ICAO, IATA
• The Cape town Convention
• The International Registry of Mobile Assets
• European Aviation Safety Agency Regulations
• EU Emissions Trading Scheme
• Registration and de-registration of aircraft

Module 5: Taxation and Aviation

• Importance of Irish tax residence
• Tax Opinions, Legal Opinions
• Double taxation treaty network
• Withholding tax
• Section 110 Companies

Module 6: Insurance and Aviation

• Airline aviation insurances and key clauses
• Lease insurance provisions in aircraft operating leases
• Lessor considerations
• Claims management
• Standard endorsement analysis

Module 7: Applied leasing issues

• Jurisdictional issues
• Redelivery of aircraft
• Helicopters –leasing, registration
• Engine leasing
• Maintenance reserves
• Aircraft records management
• Corporate service providers

Module 8: Repossession and recovery

• Repossession in practice
• Key documentation, key clauses
• Material adverse changes
• Relevant default provisions
• Termination notices
• Applications to Court
• Enforcement –practical steps

Module 9: Fleet planning

• Fleet planning by airlines
• Strategies engaged
• Case studies
• Lessor positioning

Module 10: Case law and future trends

• Irish and UK aviation case law update
• Future trends for aviation industry

Module 11: Career Panel event
This will afford students the opportunity to get expert advice from professionals in the industry about how to enter the aviation industry or how to successfully move sectors within the aviation industry