• With interest rates, labour costs, fuel costs and inflation all rising, what are the implications of each of these to the different stakeholders in the aviation industry?
• Are these likely to have lasting impact on the industry?
• If each of these were to stabilise tomorrow, how long would it take the industry to bounce back?

Troy Ludtka

Vice President and Senior US Economist, Natixis

• What could the industry could do differently if we experience any of the recent events again?
• A lot of lessors don’t have exposure to Russia by design – how did they decide this and are there any other countries that are on this list?
• Did the industry not consider political and jurisdictional risk that dangerous? Have these outlooks changed?
• Can airlines and lessors protect assets in the future against the risk of state takeovers?
• Unique type of risk in Ukraine that you never really see in other (alternative) asset class investments
• After recent violations, does the Cape Town Convention agreement hold stature anymore?
• Are there gaps in lessor contingency coverage? Does the market for reinsurance cover this or is defaulting still an apparent issue?
• Are investors looking to access this reinsurance market in a time of turbulence? If so, how can they?

Emily Wicker

Partner, Clifford Chance

Pablo Wangermann

Director, Alix Partners

Jeanette Delehanty

Aviation General Counsel, Aviation Legal, Castlelake

Moderator

Dave Beary

Chief Risk and Investment Officer, SES Ltd

• How are sponsors adapting new aircraft ABS to appeal to investors?

• Will there be more privately placed aircraft ABS?

• What is the current appetite among ABS investors for B, C and E -notes?

• Does going private mean more opportunity for investors to shape transactions?

Elizabeth Lapastora

Director, Structured Securities, Mutual of Omaha

Robert Sheldon

Managing Director and Head of Transportation ABS, Deutsche Bank

Rich Barnett

Partner, Capital Markets, Castlelake

Vinodh Srinivasan

Managing Director & Co-head of Structured Credit Group, Mizuho Securities

Kevin MacLeod

Shareholder, Vedder Price

Moderator

Joe O'Mara

Head of Aviation Finance, KPMG Ireland

• How is aviation maturing as an asset class?
• Where is the capital likely to come from?
• What is the perceived value and return rate expectations?
• What are the current thoughts around stability in the environment?
• What is the next lease agreement likely to look like considering ESG factors?

Wouter du Preez

Co-Managing Partner, Greenstar Partners

Rupert Leggett

Chief Executive Officer, FPG Amentum

Vahan Callan

Managing Director - Head of Aviation Finance, DelMorgan & Co

Emily Wilson

Director, AB CarVal

Moderator

Patrick Murphy

Consultant, KPMG Ireland

• How overlevered have companies’ balance sheets become as a result of multiple waves of COVID, the Ukraine crisis, increased fuel and labour costs?

• Assessing various capital solutions from recapitalising debt to loans for airlines and lessors.

• What financial solutions have been more, or less, popular with aviation investors and airlines in the wake of rising interest rates?

• What measures are airlines taking to become more efficient in an attempt to correct their balance sheets and become more attractive for investment?
• Evaluating how some airlines avoided state relief loans and for those who needed to use it, how will this impact their revenue going forward?

Michael Rodyniuk

President and CEO, Canadian North Airlines

Robert Morin

Managing Director, AFIC

Joerg Schirrmacher

Head of Transport Finance & Senior Vice President, Helaba

George Ferguson

Senior Aerospace, Defense & Airline Analyst, Bloomberg

Benjamin Faires

Managing Director of Capital Markets & Outreach, Boeing Capital Corporation

Moderator

Tim O'Connell

Partner & Head of Aviation Advisory, Grant Thornton Ireland

• Are lessors seeing a premium in old gen equipment vs new gen?
• How resilient are old gen values? Are they even being improved by the sale of new gen narrowbodies?
  
• Is ESG driving a new gen investment thesis?

Eddy Pieniazek

Head of Analytics & Advisory, Ishka

Michael Rodyniuk

President and CEO, Canadian North Airlines

Philip Bolger

Strategic Aviation Advisor, Deloitte

Moderator

Edward Connolly

SVP Capital Markets, Engine Lease Finance Corporation

• What are the risk to reward ratios for each asset class?

• Are investors looking to diversify their portfolios or move away from aviation?

• What are the benefits currently of investing in aviation? Is aviation a high yield asset?

• How long-term or 'sticky' is the money in aviation?
• How important are company and country types for investors when assessing investment opportunities?

Edward Tsai

Managing Director, Wafra Inc.

David Andrews

Founder, Managing Partner – Transport, Hudson Structured Capital Management

Christian Wolff

Head of Syndicate & Investor Markets, Helaba

Anyi Lee

Managing Director, Blackstone

Moderator

Michael Draz

Shareholder, Transportation, Vedder Price

This panel will discuss why turn-key investors have a huge opportunity for healthy returns by investing in the SAF ecosystem. There is a proven market out there, with a huge shortfall in supply, how does aviation find the delta between the two? Understanding your point of entry and identifying your sweet spot is key.

• Demand vs supply – by the numbers

• What does a SAF investor look like now, and in 5 years’ time?

• Who should be leading the charge – airlines, OEMs, lessors, institutional investors, VCs?

• What does investing in SAF actually mean – plant, tech, project finance, offtakes – take your pick

• Proven and potential returns – let’s be realistic

Chris Chaput

Managing Director, DG Fuels

Moderator

Paul O'Driscoll

Aviation Consultant | ISTAT Aircraft Appraiser, Ishka

• Assessing the pitfalls and longevity of the market for freighters.

• Companies are lining up to complete P2F conversions but how deep the market is now for widebody freighters & how deep is the credit market? What will happen to the cargo when it’s returned?

• Narrowbody freighter conversions are in demand but no one is demanding the leases or are putting forward unattractive offers – what does this mean for the market?
• How are freighter ABS deals shaping up?
• What does the market look like for narrowbodies, small narrowbodies, regional and crossover jets?

Paolo Lironi

CEO, SGI Aviation

Yves Germeaux

Head of Aviation Finance, ATOZ Aviation Finance

Oliver Gerg

VP Leasing and Strategy, Embraer

Moderator

Andrew Stratos

Head of Transportation Americas, Deutsche Bank

Join us for the Ishka-famous gameshow session where panellists compete against one another, answering questions about current market conditions. Questions will take the form of: Trick or treat, phantom headlines and murky crystal ball.

Jennifer Villa Tennity

Executive Director & Group Head, Ashland Place Finance

Bob Bengtson

Managing Director, Goldman Sachs

Helane Becker

Managing Director, Cowen & Company

Moderator

Dickon Harris

Editor, Ishka

• What financing and liquidity will lessors be able to acquire in 2023?
  

• How are recent M&A influencing buying opportunities in the secondary market as firms seek to build their portfolios next year?

• What aircraft portfolio metrics are lessors aiming for?

• What is the potential pipeline for airline bonds backed by alternative assets like loyalty programs, EETCs and CLOs?
• How are these deals structures evolving?

Marjan Riggi

Senior Managing Director, Kroll Bond Rating Agency

Dana Barta

Executive Director - Aviation Debt Capital Markets, JP Morgan

Jerome Duval

Director Structured Finance, Citi

Moderator

Jim Bell

Partner, Global Aviation Sector Co-Head, Watson Farley & Williams