Edited by: Roy Murphy & Nasreen Desai
The fourth edition of Aircraft Financing examines a comprehensive range of commercial and legal topics which are relevant to aircraft financing in 2011 and explores current trends in the aviation and aircraft financing industries. This is the most comprehensive book on Aircraft Finance.
The text is supported by graphs, diagrams and charts and other pictorial features, where appropriate. All these supporting features facilitate a better understanding of the accompanying text for the reader. In certain chapters, for example, Chapter 8 (export credit financing), there are diagrams to clarify the specific transaction structure discussed in the accompanying text.
These structure diagrams enable the reader to get a very clear idea of the transaction structure, which is particularly useful where the structure is complex or unusual. In Chapter 3 (Aircraft Capital Markets), there are a number of graphs and charts which clearly summarise the evolution of aircraft capital markets transactions. Graphs, charts etc. are particularly useful where the text is heavy with figures and statistics.
The book will be helpful to aircraft finance lawyers because it discusses and clarifies many of the financing transactions which they advise on in their day to day business (ie "bread and butter" deals like operating leasing or export credit financings, or other types of deals, like Islamic financing). This is of especial benefit to junior lawyers who wish to expand their knowledge of this practice area.
The book also benefits other aircraft financing industry participants, eg bankers, leasing companies, lessees, who want to expand their knowledge of aircraft financing beyond their area of expertise and those seeking an up-to-date summary of legal and regulatory developments. For example, the Cape Town Convention is a common feature of aircraft financing transactions and the book provides a useful summary for all industry participants of the Convention's key points and features.
- New aircraft financing techniques
- Aviation insurance
- Legal issues
- Key jurisdictions and their financing products
- Updates on existing and new regulatory regimes
The fourth edition is divided into thematic sections, enabling the reader to locate information easily.
- The first section - Market Context - provides an overview of the aircraft financing market in recent years, including an examination of recent trends in funding sources.
- The second section - Transaction Structuring - explores the commercial and legal issues underpinning an aircraft financing transaction.
- The third section - Core Products and Regional Markets - examines some of the aircraft financing products currently used in the market, such as export credit financing and Islamic financing. It also examines the aviation industry and aircraft financing products on a global scale, focusing on Brazil, Russia, India, China and certain European countries.
- The final section - Regulatory Matters - explores recent developments and changes in regulation, including the implementation of the EU Emissions Trading Scheme, Basel III and the Cape Town Convention and their impact on the industry.
PART A Market Context
1. Commercial Bank Lending in 2010
2. Overview of Aircraft Financing Markets
3. Aircraft Capital Markets
PART B Transaction Structuring
4. Assessing an Airline's Credit
5. Aircraft as Investments
6. Legal Issues in Aircraft Finance
7. Cross-Border Aircraft Leasing: Key Taxation Considerations
PART C Core Products and Regional Markets
8. Export Credit Financing
9. Operating Leasing: a Lessor's Perspective
10. A Lessee's Guide to Aircraft Leasing
11. Pre-Delivery Payments Financing
12. Regional Markets
13. Islamic Finance
14. Engine Leasing and Financing
15. Issues relating to Offshore SPVs
16. Insurance Considerations
17. Aircraft Repossession
PART D Regulatory Matters
18. The Regulatory Framework for Airline Operations
19. Aviation and the EU Emissions Trading Scheme
20. International Conventions affecting Aircraft Financing Transactions
21. Basel III and Aircraft Finance22. Accounting Developments in Aircraft Finance