Aircraft Financing 5th ed

Aircraft are mainly bought by two groups of buyers:

• Airlines for their own use, and
• Operating lessors for onward leasing to airlines

Both groups of buyers require substantial external funding, both debt and equity, to accommodate these purchases.

Historically four key sources have funded the aviation industry:

• bank debt (secured and unsecured)
• sovereign guaranteed debt (secured)
• capital markets (equity secured and unsecured bonds)
• internal cash flow generation

This is the leading text providing guidance on all the funding options available, the best way to secure funding and how to ensure that robust legal structures framing the commercial deal are in place.

The book is divided into four core sections:

• Part A: Market Context which sets the scene giving the user market context and an overview of aircraft financing
• Part B: Transaction structuring which looks at the credit, the asset, the legal structuring and tax drivers
• Part C: Core Products and Regional Markets (Brazil, Russia, India, China, France, Germany, Spain and Japan), and
• Part D: Regulatory Matters including accounting developments

Key updates for the new Fifth Edition include new chapters on:

• The environment
• Compliance
• GATS (Global Aircrafts Training Systems (GATS), as well as
• Full explanation and analysis of recent regulatory changes including changes brought about by Basel IV

Due to the complexities involved in this area and the need to ensure that any commercial deal is legally sound Aircraft Financing is the essential reference tool for anyone involved in aircraft financing transactions.

table of content

Part A - Market Context

Chapter 1: Commercial Bank Lending

Chapter 2: Overview of Aircraft Financing Markets

Chapter 3: Aircraft Capital Markets

Part B - Transaction Structuring

Chapter 4: Assessing and Airline's Credit

Chapter 5: Aircraft as Investments

Chapter 6: Legal Issues in Aircraft Finance

Chapter 7: Cross-border Aircraft Leasing - Key Taxation Considerations

Part C - Core Products and Regional Markets

Chapter 8: Export Credit Financing

Chapter 9: Operation Leasing - A Lessor's Perspective

Chapter 10: A Lessee's Guide to Aircraft Financing

Chapter 11: Pre-delivery Payments Financing

Chapter 12: Regional Markets

• Brazil

• Russia

• India

• China

• France

• Germany

• Spain

• Japan

Chapter 13: Islamic Finance

Chapter 14: Engine Leasing and Financing

Chapter 15: Issues Relating to Off-shore SPVs

Chapter 16: Insurance Considerations

Chapter 17: Aircraft Repossession

Part D - Regulatory Matters

Chapter 18: The Regulatory Framework for Airline Operations

Chapter 19: Aviation and the EU Emissions Trading Scheme

Chapter 20: International Conventions Affecting Aircraft Financing Transactions

Chapter 21: Basel IV - The Regulatory Framework

Chapter 22: Accounting Developments in Aircraft Finance