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Airfinance Journal and Euromoney Seminars’ 6th Annual Russia & CIS Airfinance Conference is your best opportunity to meet over 250 delegates including the airlines who will be ordering planes in the coming months as well as the lessors, financiers, manufacturers, support services and others who are active or interested in participating in this exciting market.
Unaffected by sub-prime and with a booming oil-driven economy, Russia’s aviation traffic is forecast to grow by 8% in the coming decade with passenger numbers due to reach 52 million by 2011. With nearly all operating aircraft now expected to retire by 2025, Boeing estimates that Russia/CIS airlines will need to acquire 1330 new, used and leased aircraft within the next decade.
Despite a high fuel price and import duty and VAT on aircraft with less that 300 seats, Russian carriers are ordering aircraft, creating enormous opportunities for everyone interested in doing business in the region.
- The conference will address key industry topics including:
- Infrastructure – can it keep up with the rapidly growing aerospace industry?
- Will the import duty be removed and if so when?
- Aircraft orders – outlook for the next twelve months
- How will the new Russian lessors fare?
- Will we see more consolidation? Who are the likely candidates?
- What financing structures are available – PDP structures, alternative sources of finance, who is lending into the region?
These and other topics will be addressed at the 2008 conference, making it the forum for debating the future of the industry and for maximising your presence in this exciting market.
Over 250 delegates attended the event in 2007. Make sure you join them in 2008.
Tuesday, 17th June 2008
08.15 Registration and refreshments
09.00 Chairman’s opening remarks
Andrew Muriel, Partner, DLA Piper
09.10 Panel discussion: Crystal balls – outlook for the Russian aviation market
- Investor opportunities: Is the Russian market counter-cyclical?
- Will we see further consolidation and if so, where?
- When will the import tariffs go?
- Financial outlook for Russia’s carriers – how robust are they?
- Will we see any bankruptcies?
- Will we see renationalisation of the Russian aviation industry?
- Fuel
Steve Thomson, Analyst, Concise Aerospace
Azer Samedov, Regional Manager, Aviation Solutions, Russia & CIS, IATA
Les Weal, Director and Head of Valuations and Appraisals, Ascend
09.50 Aeroflot - growth plans and outlook
- Passenger growth forecasts - outlook for the next five years
- Fleet requirements and financing techniques
- Strategies for competing with local and international carriers
Kirill Budaev, Deputy Director General of Strategic Corporate Development, Aeroflot
10.30 Morning coffee
11.10 Improving economic efficiency through advanced corporate governance
Andrey O. Ilmensky, Senior Vice President, UTair Aviation JSC
11.40 Large aircraft demand – Russian airline requirements
- Russia/CIS growth forecasts
- New order forecasts
- Comparing aircraft types
- Financing trends
Dr. Sergey V. Kravchenko, President, Boeing – Russia/CIS, The Boeing Company
Laurent Rouaud, Vice President Market Forecasts & Research, Airbus
12.30 Lunch
14.00 Panel discussion: The Russian airlines’ perspective
- Market growth outlook
- Strategies for managing the costs of running a Russian carrier – import tariffs, fuel and others
- Financing requirements and how these will be met
- Opportunities for investors
Ravil Nasybullov, Chief Financial Officer, Sky Express
Andrey Kolesnikov, Finance Director, AirBridge Cargo
14.40 Legal/tax/structural factors influencing industry development
- Russian/overseas registers - related issues
- Manufacturing - influences
- Airports - influences
- Duties
- Licensing
- Ticketing
- Leasing
- Ownership
- Cape Town
Andrew Muriel, Partner, DLA Piper
15.20 Afternoon coffee
16.00 Low-cost carriers in Russia – a reality check
- Do the market and regulatory characteristics conform to fundamental requirements for a LCC model?
- Where would they fly?
- Challenges – airports, turnaround times, regulatory obstacles
Peter Smith, Chief Executive, Phoenix Project Management
16.30 Can the LCC model work in Russia?
- How is the model different to other European LCCs?
- How are the Russian LCCs doing?
- Coping with the competition
- Sky Express update
Marina Bukalova, General Director, Sky Express
17.00 Outlook for CIS carriers
- Domestic and international traffic forecasts
- Fleet requirements and order outlook
- Financing strategies
Karl Dandler, Financial Executive, Ukraine International Airlines
17.30 Chairman’s closing remarks followed by a drinks reception sponsored by GECAS
Wednesday, 18th June, 2008
08.30 Registration and refreshments
09.00 Chairman’s opening remarks
Geoffrey Burgess, Partner, Debevoise & Plimpton
09.10 Refleeting Russian airlines
- The need for new aircraft
- Which types do carriers need?
- Russian and CIS demand vs Brazil, India and China
- When should carriers refleet: Order books, demand
- Operating leasing vs speculative orders
Ray Sisson, Senior Vice President and Regional Manager, Middle East, Africa and
CIS, GECAS
09.40 Panel discussion: A booming market – operating leasing in Russia and the CIS
- Which aircraft are the most suitable?
- Lease rates
- How do lessors view the Russian aviation market?
- Is Russia counter – cyclical?
- Opportunities for new lessors
- New lessor business plans
Philip G Scruggs, Senior Vice President, International Lease Finance Corporation
Markus Weinseiss, Managing Director, CIT Aerospace
Erlendur Svavarsson, Loftleidir Icelandic
10.20 Certain aspects of the maintenance and redelivery provisions in the aircraft operating lease agreements
- Types of maintenance
- Maintenance costs
- Maintenance reserves
- Warranties
- Alterations and modifications
- Service bulletin and airworthiness directives
- Deferred maintenance
- Maintenance covenants
- Part replacement
- Removal and replacement of engines – pooling
- Information and inspection
- Aircraft manuals and records
- Redelivery conditions – possible pitfalls
Ilya Dvorkin, Associate, Debevoise & Plimpton
10.50 Morning coffee
11.20 Russian manufacturing update
- Are Russian aircraft viable in today’s markets?
- What is the role of the UAC in current markets?
- What is the role of Ilyushin Finance in the context of the UAC?
- Relationship between Russia and Ukraine - is Antonov production viable?
Valery Bezverkhniy, Executive Vice President, United Aircraft Corporation
Alexander Rubtsov, Director General, IFC Leasing
12.00 The new engine market
- New engines
- New technologies – environment vs performance
- New issues: PMA, OEM support, upgrades
- Opportunities in the Russian market
- New problems – managing asset values and maintenance in Russia
Steve M. Agnelli, Vice President, Commercial Engines and Services, Europe, Middle East, Africa, Russia & CIS, Pratt & Whitney
Lionel Gobert, Sales Director for Russia, CIS and Northern Europe, CFM
Jean Paul Ebanga, Chief Executive Officer and Chairman, PowerJet
12.40 Issues relating to the securing of investment for Russian airport renovation and development projects
Fred Strickland, Director – Infrastructure Finance, Raiffeisen Investment
Florence Bachelard-Bakal, Senior Banker, EBRD
Olga Revzina, Partner, Gide Loyrette Nouel
13.10 Lunch
14.30 Panel discussion: Financing options for Russian carriers
- What structures are available to Russian carriers?
- PDP financings
- How lease financings are structured
- Who is lending?
- What alternative sources of capital are available?
Christian McCormick,Chief Executive Officer, Natixis Transport Finance
Lourens Geldenhuys, Head of Asset Financing, Standard Bank Plc
Dominik Thumfart, Managing Director, EMEA Business Head Special Situations / Asset Finance, Citigroup Global Markets Limited
15.10 Case study: AirUnion
Senior representative, AirUnion
(To be confirmed)
15.40 Afternoon coffee
16.10 Panel discussion: Regional aircraft market outlook
- Certification – will western manufactured aircraft receive certification in Russia?
- What chance for Western regionals?
- Innovating Turboprop to support Russian regional market growth
- Update on the Sukhoi Superjet
Salvatore di Bartolo, Sales Director, ATR
Mark Gilbert, Sales Account Executive, Bombardier Aerospace
Svetlana Issaeva, Commercial Director, Sukhoi Civil Aircraft Company
Claudio Cheinquer, Senior Sales Engineer, Embraer Europe
16.50 Russian cargo outlook
- What are the key routes and who is servicing them?
- Aircraft demand
- Are cargo-conversions a viable option?
- Financing strategies for new and secondhand aircraft
Andrey Kolesnikov, Finance Director, AirBridge Cargo
17.20 Chairman’s closing remarks and close of conference
For further information, please contact:
Sarah Rixom, srixom@euromoneyplc.com - for speaking opportunities
Graham Sherwood, gsherwood@euromoneyplc.com - for sponsorship opportunities
Georgia Thomas, gthomas@euromoneyplc.com - for registrations and marketing opportunities
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