Aircraft Financing: : Rob Murphy: Bloomsbury Professional

Aircraft Financing

Description

Aircraft are mainly bought by two groups of buyers:
1. Airlines for their own use
2. Operating lessors for onward leasing to airlines
Both groups of buyers require substantial external funding, both debt and equity, to accommodate these purchases.

Historically five key sources have funded the aviation industry:
1. bank debt (secured and unsecured)
2. export credit agency guaranteed debt (secured)
3. capital markets (secured and unsecured bonds; equity and debt solutions)
4. internal cash flow generation
5. tax based leasing products

This is the leading text providing guidance on all the funding options available, the best way to secure funding and how to ensure that robust legal structures framing the commercial deal are in place.

The book is divided into four core sections:

Part A: Market Context which sets the scene giving the user market context and an overview of aircraft financing
Part B: Transaction structuring which looks at the credit, the asset, the legal structuring and tax drivers
Part C: Core Products and Regional Markets (Brazil, Russia, India, China, France, Germany, Spain and Japan)
Part D: Regulatory Matters including accounting developments

Key updates for the new Fifth Edition include:

- New chapters on:
- The environment
- Restructuring
- Compliance
- GATS (Global Aircrafts Trading Systems (GATS)
- Full explanation and analysis of recent regulatory changes including changes brought about by Basel IV

Due to the complexities involved in this area and the need to ensure that any commercial deal is legally sound Aircraft Financing is the essential reference tool for anyone involved in aircraft financing transactions.

This title is included in Bloomsbury Professional's Banking and Finance Law and Irish Banking and Finance Law online services.

PART I: MARKET CONTEXT
Chapter 1: Aviation Finance Introduction, Raymond Sisson
Chapter 2: Overview of Aircraft Financing Markets, José Abramovici
Chapter 3: Aircraft Capital Markets, Zarrar Seghal and Madalyn Miller

PART II: BUSINESS MODEL – KEY ELEMENTS
Chapter 4: Aircraft as Investments, Dick Forsberg
Chapter 5: Legal Issues in Aircraft Finance, Rob Murphy
Chapter 6: Cross-border Aircraft Leasing: Key taxation considerations, Joe O'Mara
Chapter 7: In-House Valuation: Lessor perspectives, Randy Nightingale
Chapter 8: Risk in Aviation Finance, Arthur Gaskin
Chapter 9: Environmental Issues and the Aviation Industry, Rob Murphy and Fintan Kerins

PART III: CORE PRODUCTS AND REGIONAL MARKETS
Chapter 10: Export Credit Financing, Jeffrey Wool and William Coleman
Chapter 11: Operating Leasing: Lessor perspectives, Rob Murphy
Chapter 12: A Lessee's Guide to Aircraft Leasing, Michelle Johnson
Chapter 13: Pre-delivery Payments Financing, Rob Murphy
Chapter 14: Regional Markets
14(a) – Brazil, Edward Sheard and Fabio Falkenburger
14(b) – Russia, Mikhail Loktionov and Alexey Tokovinin
14(c) – India, Marylou Bilawala and Tax-Gautam Nayak
14(d) – China, Wang Ling and Wang Ning
14(e) – Germany, Konrad Schott
14(f) – Japan, Paul Greenwell and Akihiko Takamatsu
Chapter 15: Islamic Finance, William Coleman
Chapter 16: Insurance Considerations, Glen Brighton
Chapter 17: Regional markets: Aircraft repossession, Melissa Whybrow
Chapter 18: Global Aircraft Trading System (GATS), Dominic Pearson
Chapter 19: Airline Restructurings, William Glaister, Philip Hertz, Jennifer DeMarco, Gabrielle Ruiz and Marisa Chan

PART IV: REGULATORY MATTERS
Chapter 20: The Regulatory Framework for Airline Operations, Alan Ryan
Chapter 21: International Conventions Affecting Aircraft Financing Transactions, Laura Cunningham and Domhnall Breathnach
Chapter 22: Basel III and IV: The regulatory framework, Brendan Wallace
Chapter 23: Accounting Developments in Aircraft Finance, Killian Croke and Niamh Broder
Chapter 24: Aircraft Financing: The compliance universe, Rob Murphy and Fintan Kerins