英語セッション  |  ENGLISH LANGUAGE SESSION

インタラクティブでユニークな形式のセッション。パネリストと一緒に世界中を旅しながら、新市場ダイナミクスと主な航空会社の信用リスクの理解を深める

• 提供座席数は2019年のレベルに回復？
• 旅客の行動パターンの変化：長距離よりも短距離で、かつ頻繁に旅行することが選好されるようになっているか？
• パンデミック以降の格安航空会社（LCC）市場シェアは？多くの出張旅客および長距離路線をLCCは獲得出来ているか?
• 貨物専用市場はベリー回復の影響を受けているか？　（＊ベリーとは：旅客機の腹部に貨物を積んで輸送すること）

In this interactive and unique session format, travel the globe with our panellists to understand new market dynamics and key credit risks.

• Has air travel capacity returned to 2019 levels?
• How have consumer’s travel behaviours changed? Are shorter, more frequent trips being favoured over long haul?
• How much market share have low-cost carriers gained since the pandemic? Are they winning a greater share of business traffic and longer haul?
• Is the freighter market being affected by a return to belly cargo?

Dimuth Fernando

Senior Vice President, Jackson Square Aviation

Moderator

John Duffy

Chief Commercial Officer, SKY Leasing

日本語セッション | JAPANESE LANGUAGE SESSION

• 銀行融資はコロナ前の水準に回復したか？従来からの金融機関はバランスシート上の制約を増やしているのか？
• 日本の地方銀行と国際銀行の融資に対する姿勢はどのように違うのか？両者が協力し合う余地は？
• ABS市場で取引される案件とは？近い将来のABS見通し
• 航空業界のエクイティ・ランドスケープ

• Has bank lending returned to pre pandemic levels? Do traditional lenders have increased restrictions on their balance sheets?
• How different is lending appetite between regional Japanese and international banks? Is there scope for collaboration between them?
• What deals are coming through the ABS market? What is the near-term ABS outlook?
• How is the equity landscape in aviation?

Masayuki Takahashi

Executive Manager, NTT TC Leasing

Rion Sato

CEO, BeYoke Capital

Motonari Komatsu

Head of Aviation & Structured Finance, APAC, Société Générale

Soichiro Sekito

Co-Head of Global Aviation Team, Development Bank of Japan

Moderator

Yasuhiro Kataoka

CEO, iStrings Aviation Capital

英語セッション | ENGLISH LANGUAGE SESSION

• 現時点におけるJOL/JOLCO投資家と貸し手の需要は？
• OEMの機材供給と今後の優良エアラインに対する納入スケジュールをレビューする。これらはJOL/JOLCO取引に影響を及ぼすか？
• 機材の供給が減少する中、JOL/JOLCO取引においてAFICの役割とは？
• 航空機ファイナンス商品の重要性は、今日の機材納入にとってどの程度か？

• What is the current appetite among JOL/JOLCO investors and financers?
• A review of OEM supply and outstanding delivery schedule for blue-chip airlines. Has this impacted any JOL/JOLCO transactions?
• With a reduced supply of aircraft, what role does AFIC sees itself in JOL/JOLCO transactions?

• How significant is the role of financing products for aircraft deliveries now?

Leslie Kurshan

Managing Director - AFIC, Marsh

Nate Graddy

Senior Director, Boeing Capital Corporation

Shumpei Tsuda

Co-Head of Global Aviation Team, Development Bank of Japan

Moderator

Valerie Tay

Managing Director, Asia, SKY Leasing

日本語セッション | JAPANESE LANGUAGE SESSION

• EUタクソノミ―について（アップデート）
• ―金融機関、投資家からみた“グリーン航空機資産”とは？ リース会社から見た資産選好の違いはあるのか？
• ESG関連評価の整理

• EU Taxonomy update 
• What do “green aircraft assets” mean from the perspective of financial institutions and investors? Is there a difference in asset preferences from the perspective of lessors?
• Comparing green financing deals across other asset classes

Kiyohiko Nagai

Senior Manager, Deloitte Touche Tohmatsu LLC

Fumihiro Honda, CIIA

Innovation and Sustainability Center, Nippon Kaiji Kyokai (ClassNK)

英語セッション  |  ENGLISH LANGUAGE SESSION

• 貸主や航空会社にとって、SAF(持続可能な航空燃料)はESG（環境・社会・ガバナンス）の中でどのように適合するのか？
• 現在の生産能力とSAFに対する意欲の位置づけ
• JALとANAにおけるSAFへのパートナーシップの意義は何か？
• 貸手と投資家にとってどのような意味があるのか？

• How do SAFs fit into the ESG picture for lessors and airlines?
• Mapping current production capacity and appetite for SAF
• What is the significance of the JAL and ANA partnership on SAF?
• What does that mean for lessors and investors?

Fernando Grau

Director of Market Intelligence - Asia Pacific & China, Embraer

Patrick Den Elzen

CEO and Founding Partner, Arena

Moderator

Eduardo Mariz

Senior Analyst, Ishka

英語セッション  |  ENGLISH LANGUAGE SESSION

• 長距離ベリーカーゴの復活は貨物機の市場吸引力を変えるか？今後 5 年間の市場見通し
• 貨物機の回復は旅客機と比較してどうか？
• 貨物機転換枠の制約は、この分野に目を向けている投資家にとってどのような意味を持つか

• Is the return of long-haul belly cargo changing the freighter market dynamics? What is the outlook for the market for the next five years?
• How do returns for freighters compare with passenger aircraft?
• What do conversion slots constraints mean for investors looking into the space?
• How do lenders view conversions and freighters? How are they being financed?
  

Kenichi Watanabe

Chief Operating Officer, Aviner & Co

Shoro Ryu

Senior Vice President - Business Development and Aircraft Trading, Arena Aviation Capital

Derek Wong

Head of Investec Aviation Debt Funds, Investec

Moderator

Eddy Pieniazek

Head of Analytics & Advisory, Ishka

日本語セッション | JAPANESE LANGUAGE SESSION

• 日本の地方銀行は航空ファイナンス融資へ反転攻勢を試みるか
• 資産クラスとしての航空業界とは？案件を引き受けるための前提条件は変わったか？
• この分野で従来からの金融機関と協力し合う余地とは？

In this personalised format, regional banks in the audience will pose questions to the expert panellists. This will ensure a candid and informative discussion to provide investors with up to date market sentiment.

• Are the regional Japanese banks looking to come back into lending?
• How do they view aviation as an asset class? Have prerequisites to underwrite an aviation deal changed?
• Is there scope to collaborate with traditional lenders in the space?

Motonari Komatsu

Head of Aviation & Structured Finance, APAC, Société Générale

Daisuke Aizawa

Deputy General Manager, Structured Finance Department, SMTB (Mitsui Sumitomo Trust bank)

Hironobu Kitamura

Structured Finance Group, Corporate and Structured Finance Dept., Dai-ichi Life Insurance

Yasutoshi Miyamoto

Deputy General Manager, Credit Department, Nippon Life Insurance Company

Moderator

Yusuke Nakazawa

Manager, Hyakugo Bank

Moderator

Saburo Koayama

Chief Operating Officer, iStrings Aviation Capital

英語セッション  |  ENGLISH LANGUAGE SESSION

• パンデミック以降、異なる機材鑑定手法をアプレイザーは取り入れているか？
• ワイドボディに対する鑑定評価と見通しはどのように変化しているか？
• ESGが及ぼす懸念と新世代技術の登場は、中古機と旧世代技術機材の残存価値に影響を与えているか？
• MAXが市場に戻り、Neoの生産率が増加している昨今、リース料率への短期的な市場の見方は？

• Are appraisers approaching values differently since the pandemic?
• How have the values and the outlook for widebodies changed?
• Are ESG concerns and the arrival of new generation technologies impacting on the residual values for midlife and older generation aircraft?
• Now that the MAX is back and NEO production is rising, what changes can we expect in market lease rates in the near term?

Eddy Pieniazek

Head of Analytics & Advisory, Ishka

日本語セッション | JAPANESE LANGUAGE SESSION

• 構造的観点からこの投資手法はいかにして変化しているか？ 一時的な変化、もしくは「ニュー・ノーマル」（新たな常態）？
• ファイナンス形態としての様々なJOLCOを理解する
• 昨今取引の競争力は？またそれら取引の出口戦略は？
• 整備積立金なしでエクイティを保全する方法は？

• How have these investment instruments changed from a structural point of view? Is this a temporary flux or the new normal?
• Understanding the different ways JOLCOs have been used as a form of finance
• How competitive have recent deals been? What is the exit strategy on those?
• How can equity be protected without maintenance reserve?

Takahiro Matsumoto

Managing Executive Officer, FPG

Hitoshi Seki

Manager, SMTB

Yoshifumi Sakuragi

Senior Vice President Marketing, Apollo PK AirFinance

Takahiro Yoshiga

Executive Officer, Head of Aviation Business Division, SBI Leasing Services

Moderator

Mari Yazamaki

Senior Advisor, BOT Lease

日本語セッション | JAPANESE LANGUAGE SESSION

• 航空会社の再建から学んだ投資家にとって最も価値ある教訓とは？コロナ以前とは異なるか？
• 今後も更なる倒産やリストラは起こり得るのか？投資家のさらなる備えは？
• 直近のセカンダリー不良債権取引から学ぶこと

• What have been the most valuable lessons for investors from airline restructurings? Are they different from pre-Covid?
• Are more insolvencies and restructurings likely? How can investor prepare themselves for more?
• What can be learned from recent distressed secondary loan purchases?

Tomohiko Kamimura

Partner, Squire Patton Boggs

英語セッション | ENGLISH LANGUAGE SESSION

• 資産クラスであるエンジンのパフォーマンスを航空機と比較
• 日本におけるエンジンリース分野の新しいプレーヤーは誰？
• エンジンメンテナンスにおけるサプライチェーンの懸念点を理解する。 問題は解決されているか？
• 投資家およびレッサーのエンジン投資に対する意欲規模はどの程度か？

• How have engines as an asset class performed compared to aircraft?
• Who are the new players in the engine leasing space in Japan?
• Understanding the supply chain issues in engine maintenance. Have these been resolved?
• What is investor and lessor appetite to invest more heavily in engines?

Mayuko Kanazawa

Senior Manager, Marubeni Corporation

Yusuke Kataoka

General Manager, Aviation Business Development, Sumitomo Mitsui Finance and Leasing

Bobby Janagan

Managing Director, Rolls-Royce & Partners Finance

Moderator

Tetsuya Nozaki

Managing Director, Asahi Aviation