Law - Aviation Leasing & Finance

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.

Modules
The 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 2022,
The bounce back after Covid-19
Reasons for development of Ireland as aviation hub,
Analysis of main industry players in the sector,
Overview of regulatory framework,
Aviation sustainability.

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,
Aircraft trading – GATS trading e-platform.

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, 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,
Overview of the aviation industry in Asia,
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.

Workshops
Workshops are a key feature of this course. These are designed to be interactive and involve working in groups on selected case-study problems and analysis, with an emphasis on the application of the law to common scenarios encountered in practice.

Workshop dates:
Saturday 2 March 2024
Saturday 13 April 2024
Saturday 11 May 2024
Saturday 1 June 2024

*Every effort has been made to ensure the information contained in these pages is accurate and up to date. However timetables and course content are subject to change and date and time changes may occur due to factors beyond our control.

Who should attend?
In order to apply you must (1) be a qualified lawyer or (2) have a minimum of two years' full-time experience in the aviation industry or (3) have successfully completed the Certificate in Aviation Leasing and Finance.

This course is suitable for:

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.

We welcome applications for this course from suitably qualified non-members. 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, which amounts to €300 in respect of a diploma application. Students who have successfully completed the Certificate in Aviation Leasing and Finance will be eligible for a discount on their diploma application.

Application information
The closing date for applications for this course is 18 January 2024

Full details of application process on the course webpage - link below.

Delivery Method
Lectures live online on Thursdays 6pm to 9pm with live onsite and online workshops on occasional Saturdays. All sessions are recorded and available to view on playback. It is possible to complete this course entirely online.

Start Date: Thursday 1 February 2024 at 6:00 PM