24 March 2026
Main Stage
Main Stage

Q&A - The Aviation Financing Outlook

Laura Mueller
Director of Aviation Finance Intelligence,
Ishka | Airfinance Global
Eddy Pieniazek
Head of Advisory,
Ishka | Airfinance Global

Join the Ishka | Airfinance Global team as they give a high-level overview of the current aviation financing landscape and look forward to the year ahead.

Ishka Accelerator

Financing & Capital Markets

Richard Moody
Independent,
William Glaister
Independent,

A crash course on the wealth of financing instruments in the market. Learn why coupons aren’t for the supermarket and balloon payments aren’t for party planning.



Exclusively for registered Accelerator participants. Space is limited but if you wish to apply, please contact jennifer@ishkaglobal.com

Main Stage

Fireside Chat with CEO of HelloJets

Tudor Constantinescu
CEO,
HelloJets
Moderator
Eric Kohn TD VR
Chairman & Managing Partner,
Barons Capital Partners SA
Main Stage

How are Lessor Leaders Seeing the Next Cycle of Aviation?

Bobby Janagan
CEO,
Rolls-Royce & Partners Finance
Cian Coakley
Chief Revenue Officer,
Orix
Vincent van Tooren
Head of Portfolio Management,
Arena Aviation Capital
Moderator
Kate Newman
Tax Partner,
KPMG
  • How are European investors currently viewing aviation as an asset class, and how has that changed over the past few years?
  • Aircraft ordered today may only be delivered in 3-6 years, how are lessors benefitting from this?
  • As lease rates start to stabilise, are we entering a more disciplined pricing era?
  • Could spare engine leasing or shorter-term higher-yield products move into mainstream portfolios?
Forums

Private Capital Forum: Returns and Opportunity in Aviation Finance

Steve Welo
Executive Director, Capital Partnerships,
Air T
Sarah Conway
Director,
Ashland Place Finance
Moderator
Joe O'Mara
Tax Partner,
KPMG

Private credit is reshaping how aviation assets are financed, stepping into spaces once dominated by banks and lessors. But what does that mean for investors? And how can they take advantage of this evolving market dynamic? This session explores where private credit is generating returns, how risk is being structured and priced, and what these deals actually look like from a legal perspective, with insight into the structures and protections that matter most when markets turn.

Key discussion points:

  • How are lenders approaching sustainable returns in today’s aviation market, and how are risk considerations influencing those strategies?
  • What deal structures are being used, and how do they shape risk allocation and return outcomes?
  • What are the routes to market for investors across the capital stack in private credit?
  • Forward look: How are lenders positioning themselves for the next phase of aviation finance, and how is this reflected in current deals, transaction terms and structuring decisions?
Ishka Accelerator

Pricing & Values

Eddy Pieniazek
Head of Advisory,
Ishka | Airfinance Global

Learn how shifting market values feed directly into pricing decisions, and how to apply that data to structure deals to meet risk and performance targets.



Exclusively for registered Accelerator participants. Space is limited but if you wish to apply, please contact jennifer@ishkaglobal.com

Main Stage

Is Consolidation the Best Strategy for Lessors in 2026?

Patrick den Elzen
CEO,
Arena Aviation Capital
Jonathan Weinstein
Managing Director - Transportation,
Evercore
Moderator
Ron Doyle
Tax Partner,
Deloitte
  • With maintenance costs surging and engine availability constrained, how are operational pressures affecting lessor profitability? How are lessors and investors mitigating these risks?
  • Is there an investment case for mid-sized lessors, or does the funding advantage of larger platforms make scale essential for competitive returns?
  • Is the bargaining power of OEMs and engine manufacturers impacting consolidation, and could scale now determine access to aircraft and engines in a constrained supply environment?
Main Stage

The Airline Financing Outlook: How are Airlines Managing Rising Costs?

Dogus Erdogan
Head of Finance,
Corendon Airlines
Sergio Bagorro
CFO,
Hi Fly
Eric Kohn TD VR
Chairman & Managing Partner,
Barons Capital Partners SA
Moderator
Claire Walsh
Senior Vice President and Head of Operations,
Skyworks
  • What is the largest growing cost base operationally for airlines?
  • How are airlines managing cashflows in order to manage seasonal capacity requirements? How is this balanced with fleet flexibility requirements?
  • Hedging: Are some European carries choosing to hedge FX exposure, especially in light of recent euro-dollar movements? Are they hedging fuel?
  • Is there a noticeable difference in how scheduled vs charter airlines are approaching this?
  • How are these cost considerations affecting airline financing needs and opportunities? Does this affect their relationship with lenders?
Forums

The Aviation ABS Playbook: How a Deal Comes Together

Cian Coakley
Chief Revenue Officer,
Orix
John Kelly
VP - Structured Credit,
Marathon Asset Management
Mick Moroney
Partner,
EY
Wilhelm Steinmark
Head of Aviation, Europe,
Deutsche Bank
Moderator
Niamh Tobin
Partner,
EY
  • What makes an ABS attractive for the various parties; first time issuers versus repeat issuers, asset managers versus platform lessors
  • What Makes a Portfolio suitable for an ABS transaction; Portfolio Construction – WB/NB split, airline credit, aircraft LOIs
  • What are the options when structuring the deal? – asset versus SPV, capital stack etc, E-note structured to sell
  • What is involved in the rating process and what do banks need from the issuer?
  • How does the rating process work?
Ishka Accelerator

Lease Negotiation & Structuring

Karl Trowbridge
Chief Operating Officer,
Deucalion
Gareth Hawes
Partner,
Smith Gambrell Russell

Step inside the negotiation room and discover what really happens when airlines and lessors agree a lease. This interactive session explores the commercial tensions and risk-sharing that shape every deal, not just lease rates.

Through real-world scenarios and group debates, participants will engage with key clauses such as maintenance reserves, redelivery conditions, engine flexibility, and operational risk. Hear industry perspectives and discuss how airlines, lessors, and investors navigate the toughest parts of a lease agreement.

Exclusively for registered Accelerator participants. Space is limited but if you wish to apply, please contact jennifer@ishkaglobal.com

Main Stage

Airline Capacity: How are OEM and MRO Pressures Reshaping Fleet Strategies?

Mohammed Ali Faiz
VP Fleet Asset Management , Maintenance Contracts & Projects,
Air Caraïbes / French Bee
Thanos Pascalis
CEO,
Cyprus Airways
Raul Largo
Chief Commercial Officer,
euroAtlantic airways
Moderator
Shane Crawte
Director,
EY
  • Setting the Context: What Is Really Constraining Capacity Today?
  • OEM Delivery Delays and the Reality of OEM Monopoly
  • Engines as the Defining Capacity Constraint
  • What are you seeing in the MRO market at the moment?
  • Forward-Looking Close: Who Really Is the Customer?
Main Stage

How Can Investors Power the Parts Sector?

John White
VP Sales,
Aerfin
Rohit Kumar
Chief Commercial Officer,
AeroConsultant
Moderator
Derk-Jan van Heerden
Founder & Board Member,
Aethos
  • As parts become harder to source, where is the biggest demand in the USM market from airlines and lessors?
  • Where are the strongest opportunities for investors to deploy capital in the aftermarket? Is this becoming a new entry point beyond traditional JOL/JOLCO and ABS routes?
  • How is lending in the aftermarket evolving as financiers shift focus from airline credit to the maintenance utility value of assets?

Forums

Private Investor Briefing: Inside Aviation Investment

Eddy Pieniazek
Head of Advisory,
Ishka | Airfinance Global
Greg Chianetta
Managing Director,
Kroll
  • A focused review of the Ishka Vista, our forward-looking market view, highlighting where we see genuine opportunity, emerging stress points and capital dislocation over the next 12–24 months.

  • A clear view of where risk-adjusted returns are genuinely being generated today across aviation debt, equity and secondary strategies, grounded in live transactions and active capital deployment.

  • A concise, decision-focused session designed for experienced investors so you can assess aviation efficiently within a broader portfolio context.

Ishka Accelerator

Taking Ownership: Building Leadership Capability in Your Career

Sara Fitchett
Global Learning & Development Director,
AerFin
  • How can you start to develop leadership traits early in your career?
  • Managing expectations: Why progress is not always linear
  • What exactly is your personal brand, and how can you build it intentionally?
  • What changes can you expect when you move from contributor to leader?

Exclusively for registered Accelerator participants. Space is limited but if you wish to apply, please contact jennifer@ishkaglobal.com

Main Stage
Ishka Accelerator

Mentorship Huddle

Patrick den Elzen
CEO,
Arena Aviation Capital
Lewis Sutherland
Managing Director,
AE Industrial Partners
Emily Wilson
Managing Director,
AB CarVal
Richard Moody
Independent,
Karl Trowbridge
Chief Operating Officer,
Deucalion
Joram Lietaert Peerbolte
General Counsel & Chief Operations Officer,
Truenoord
Christophe Bernardini
Consultant,
Consultant

A chance to hear from aviation experts on their industry tips and tricks and meet the mentors

Exclusively for registered Accelerator participants. Space is limited but if you wish to apply, please contact jennifer@ishkaglobal.com

Main Stage

Structured for Success: Could E-Notes and New Structures Shape the Next Phase of Aviation ABS?

Greg Chianetta
Managing Director,
Kroll
Kevin MacLeod
Head of New York Capital Markets Group,
Vedder
Wilhelm Steinmark
Head of Aviation, Europe,
Deutsche Bank
Moderator
Robert Cassidy
Senior manager,
PAFS Ireland Ltd
  • If e-notes make a comeback, how could investors manage the downside of taking equity-style risk with limited control over underlying assets? 
  • How is the emergence of the Master Trust structure making the ABS market more appealing to investors?
  • As more aircraft are being securitised and taken out of the trading pool, how is this reshaping asset availability? 
  • Have factors such as geopolitical uncertainty and tariffs slowed ABS issuance, and do you see the pipeline picking up if conditions continue to stabilise? 
Asset Spotlight Stage

Debate: Are Regional Jets or Turboprops the Answer to Supply-Constrained New Gen Narrowbodies?

Sylvain Gloux
Fleet Director,
Loganair
Mark Hughes
Chief Commercial Officer,
Falko
Moderator
Richard Skipper
Partner,
Hunton
  • Why should investors consider regional aircraft financing, and what are the main structural or credit risks to watch?
  • With ATR orders sold out, how are availability constraints shaping lease rates and investor appetite?
  • Do regional jets still make sense in markets dominated by low-cost carriers and high utilisation narrowbodies? Are turboprops the safer, more durable investment?
  • How do remarketing challenges differ between ATR and Embraer fleets given their limited operator bases?
  • Can either aircraft type realistically serve as a substitute for new narrowbody capacity, or will they remain niche segments despite current demand?
Main Stage

Regional Exposure: Unlocking Opportunity in Latin America’s Aviation Market

Neil Glynn
Managing Director,
Alvarez & Marsal
Jorge Castillo
SVP – Latin America & Caribbean,
High Ridge Aviation
Kely Alves
VP Sales Latin America,
BeauTech
Moderator
Rishi Raheja
Senior Associate,
Baker Botts
  • How are credit performance, maintenance conditions and contract enforcement influencing confidence in the market?
  • Is ongoing consolidation likely to create more stable investment conditions or introduce new competitive pressures? 
  • Where is capital most needed in the region and which structures are airlines turning to first?
  • How are banks, capital markets, and private credit investors each assessing and pricing exposure in LATAM aviation?
  • How are lessors managing operational and legal risk when deploying aircraft into the region?
  • How are lessors balancing yield opportunity with jurisdictional and repossession risk in SLB transactions?

Asset Spotlight Stage

From Fixed-Wing to Rotor: Where Are the Next Opportunities for Aviation Investors?

Camille Brunel
Partner - Transportation,
RIVE Private Investment
Dan Roberts
CEO,
Lobo Leasing
Shaun Pickering
Aviation Director,
Natwest
Moderator
Patrick Moore
Partner,
WFW
  • With limited availability in fixed-wing assets, how could investor capital be redirected, and what is holding back broader investment into helicopters?
  • How are commercial helicopter use cases such as SAR and offshore operations shaping demand and credit quality in the market?
  • What progress has been made in building credible performance benchmarks for helicopter assets, and how is this improving transparency for lenders and investors?
  • Which financing structures are proving most effective for managing risk and aligning returns in today’s helicopter market?
  • How could investors approach helicopter portfolio construction if they had $50m to start?

Main Stage

The Great Value Debate: How Appraisers Read the 2026 Market

David Rushe
CEO,
Magellan
Olga Razzhivina
Director & Senior ISTAT Appraiser,
Oriel
Derek Wong
Aviation Finance & ISTAT Appraiser,
Investec
Moderator
Eddy Pieniazek
Head of Advisory,
Ishka | Airfinance Global
  • As lease rates seem to be stabilising, are we entering a more disciplined pricing environment as larger lessors get a hold on their order books?
  • As trading activity is expected to form a bigger share of lessor revenue over the next 5 years, how important is trading as a long-term component of leasing platforms, and are there still enough deals to be done?
  • Could concentration create medium-term exposure risks for investors and lenders if growth in those markets slows or becomes unbalanced?
  • With loan margins tightening in the past year, how much room does this give lessors to adjust lease rentals? Could cheaper funding influence pricing notably across the market?
  • As lessors rely on servicing income, is there still an opportunity for mid-sized equity funds? Will a drop in rates be necessary to sustain new investment?
Main Stage

Investing in Aviation in 2026: Finding Risk-Adjusted Returns

Jared Keating
Partner,
Kite LLC
Emily Wilson
Managing Director,
AB CarVal
Dr Niall O'Connor
Fund Manager,
RM Funds
Vicente Alava-Pons
Managing Director,
GOAL Aircraft Leasing
Moderator
Lewis Sutherland
Managing Director,
AE Industrial Partners
  • How are partnerships between lessors and funds changing the deal landscape? 
  • How are investors balancing liquidity vs yield when deals are shorter and more bespoke? 
  • With lease rate factors where they are, how are equity generating risk-adjusted returns?
  • What opportunities remain for smaller and midsize players as larger funds dominate the space?
  • What does aviation need to prove to attract more institutional and private capital?
Forums

Airline Treasury: Cashflow Flexibility Forum

Declan Ferguson
Head of Funding,
Aergo Capital
Dogus Erdogan
Head of Finance,
Corendon Airlines

Airlines face growing pressure to manage liquidity amid high rates, currency volatility and shifting demand.

Hear directly from other treasury teams on how they are safeguarding cashflows, securing financing and adapting to tighter credit conditions.

Main Stage

Why are Investors Turning to the Secondary Trading Market?

Barbara FitzGerald
SVP Portfolio Management & Origination,
High Ridge
Eddie Browne
SVP Trading,
Aergo Capital
Ed Coughlan
Co-Founder & CEO,
Sirius Aviation Capital
Michael Howard
Chief Financial Officer,
K2 Aviation
Moderator
Edwin Fusco
VP Marketing EMEA,
SKY Leasing
  • What does the strong secondary market tell us about overall investor confidence? How does it affect pricing power in the market as a whole? 
  • As midlife values are starting to stabilise, how are investors using the secondary market to manage risk and rebalance their portfolios?
  • How is trading in the secondary market being supported by funding structures?
  • How easy is it to enter into new trading deals today? How competitive is access for investors?
Main Stage

Deal or No Deal: Banks vs Alt Lenders

Laurent Floquet
MD, Head of Aviation Financing & Advisory for EMEA,
Société Générale
Guillaume Degemard
MD Origination,
PK AirFinance
Alain Rousseau
MD - Head of Transportation Finance Europe,
Natixis
Jack Dwan
SVP - Loan Origination EMEA,
AV AirFinance
Moderator
Dickon Harris
Editor,
Ishka | Airfinance Global
Moderator
Leslie Kurshan
Managing Director,
AFIC
  • How have high interest rates and Basel IV regulations reshaped aviation lending so far this year? Is aviation still a priority for banks amid ESG/ratings considerations and high interest rates?
  • Are bank loans are becoming less attractive to investors and airlines? What could the next generation of banking product look like? Is there an opportunity for bank/private credit partnerships such as syndication or hybrid models? 
  • How is the rise of private credit in aviation filling the gap left by banks? Are there any novel asset types that are becoming private credit territory?
  • As private credit and alternative lenders have higher yield targets, has this pushed them into complex, higher-risk structures, and is this sustainable long-term in the lending space? 
  • Will the market balance keep shifting, or will we start to see a clear distinction on who funds what? 
Main Stage

The Ishka Deal Makers Dinner - Hosted by KPMG

Invite-only dinner hosted by KPMG at The Oblix Shard