Certificate in Aviation Leasing and Finance

Programme objectives

On completion of this training programme, participants will be able to:

• Analyse the key legal issues pertaining to the sale and lease of aircraft;
• Assess the finance structures involved, how to finance an aviation transaction, and funding available;
• Explain the key regulatory issues pertaining to aviation;
• Discuss the legal issues relating to key aviation matters such as engines, maintenance reserves, security, taxation, insurance, records, and repossession; and
• Recognise the key legal and financial documents and structures in aviation leasing and finance transactions.

Programme structure and approach to learning

Ireland is internationally recognised as the global hub for aviation leasing and finance, with 14 of the top 15 global aircraft lessors enjoying a presence here. More than 60% 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, and talented workforce – not to mention our legal and regulatory advantages. In addition, Ireland’s network of over 70 double tax treaties, combined with the absence of withholding tax on aircraft lease rentals and a corporate tax rate of 12.5%, makes Ireland a commercially attractive place to set up and run an aircraft leasing company. The aviation sector is a huge growth industry.

This certificate 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.

Participants will gain an overview of the key legal, financial, and technical issues, as well as an understanding of the broader regulation, tax, and insurance aspects relevant to aircraft leasing and finance. 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.

This certificate also functions as a preparatory course for those intending to take the Diploma in Aviation Finance and Leasing but who do not meet the entry requirements.

Modules

The programme is based on the following module scheme and covers key themes as listed below:

Module 1: Aviation Industry

• Profile of the Irish aviation industry,
• Development of industry,
• Reasons why Ireland is an aviation hub,
• Overview of tax and regulatory advantages.

Module 2: Aircraft leasing

• Types of aircraft leases,
• Key issues for lessors and lessees,
• Lease structures,
• Pre-lease investigation and structuring,
• Aircraft operating lease agreement,
• Main lease terms.

Module 3: Aviation financing

• Types of finance and security,
• Debt and structured finance,
• Use of Special Purpose Vehicles (SPVs),
• Mortgages, guarantees, charges, assignments,
• Structure and finance key documents.

Module 4: Key technical issues

• Aircraft delivery,
• Lease management,
• Maintenance reserve management,
• Maintenance claims,
• Lease transitions,
• Engine leasing – maintenance, records, security.

Module 5: Regulatory environment

• Role of Irish Aviation Authority,
• International regulation,
• The Chicago Convention, ICAO, IATA,
• The Cape Town Convention,
• European Aviation Safety Agency Regulations,
• EU Emissions Trading Scheme.

Module 6: Taxation and Aviation

• Importance of Irish tax residence,
• Depreciation, capital allowances,
• Double taxation treaties,
• Access to 12.5% rate,
• Withholding tax.

Module 7: Insurance and Aviation

• Relevant insurance principles,
• Airline aviation insurances,
• Lease insurance provisions,
• Lessor considerations,
• Claims management.

Module 8: Career Panel event

The careers panel offers participants an opportunity to get expert advice from industry professionals about gaining entry to the aviation industry or how to successfully move sectors within the industry. This event will take place online.

Workshops

Workshops are interactive sessions that focus on group problem-solving and are designed to revise all modules covered to date and to consolidate the participant’s knowledge.

• Workshop 1: Thursday 04 November 2021
• Workshop 2: Thursday 09 December 2021
• Career panel event: Thursday 09 December 2021

Assessments

2,500-word written assignment and short multiple choice quiz. Assignment submission date: 10 January 2021.

Who should attend?

This course is suitable for the following:

• Solicitors, barristers, and trainees who advise aviation clients or who wish to join the aviation sector,
• Professionals working in the aviation industry who wish to expand their knowledge with a view to career advancement or moving laterally to another discipline within the industry,
• Professionals working in aircraft leasing companies or airlines,
• Contract administrators and engineers,
• Professionals in financial institutions that fund the purchase of aircraft,
• Accountants, finance professionals, and tax consultants advising aviation clients, and
• Insurance professionals specialising in aviation insurance.

It is not necessary to have prior experience or knowledge of the aviation industry in order to apply for this certificate. Those who have successfully completed the Certificate in Aviation Leasing and Finance will be eligible for a discount on their diploma application.

We welcome applications from others who are suitably qualified. Please explain your interest and set out any relevant experience in a cover letter and a brief CV. Such applications are subject to a supplemental fee of €100.

Faculty

The teaching faculty for this certificate comprises a fantastic array of aviation leasing and finance experts. Previous lecturers have included:

• Donna Ager, Maples Group,
• David Berkery, A&L Goodbody,
• Jeanette Delehanty, Castlelake Aviation,
• Catherine Duffy, A&L Goodbody,
• Stuart Kennedy, Matheson,
• Daniel Kiely, BoComm Leasing,
• Kirk Malahy, AerCap,
• John McMahon, aviation consultant,
• Yvonne McWeeney, Matheson,
• Deirdre Ní Chearbhaill, Avolon,
• Kieran Oliver, Shannon Engine Support,
• Marie O’Brien, A&L Goodbody,
• Neil O’Donnell, Aergo Capital,
• Niamh O’Meara, Milestone Aviation Group,
• Catherine Quinlan, CQAI Consulting,
• Daniel Roberts, Lobo Leasing Limited,
• Kevin Masterson, Irish Aviation Authority,
• Ronan Stewart, Santos Dumont,
• Gerry Thornton, Matheson,
• Mary Townsend, ASL Aviation Holdings.

CPD

We have designed our courses to enable you to satisfy as much of your CPD requirement as possible. Time spent attending lectures and workshops in person or completing these via e-learning as part of your course can be claimed towards your annual CPD requirement. The number of hours of CPD that you may claim in relation to your diploma/certificate course will depend on the way in which you access each of the individual sessions. Please note that the limit for e-learning has been removed for the 2021 CPD cycle. For further information, visit the CPD scheme and download the CPD booklet.

The Diploma Centre team will host our annual CPD conference in November 2021. This complimentary event is a dedicated management and professional development skills and regulatory matters session. We will post an invitation on your Diploma Hub page later in the year.