Business Aircraft Transactions Conference

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Agenda

Day 1 – Thursday, June 21, 2012

8:30 a.m. – 9:00 a.m.
Registration & Continental Breakfast
9:00 a.m. – 9:15 a.m.
Welcome & Introductions

Presented by: Eileen M. Gleimer, Partner, Crowell & Moring LLP and David Labrozzi, President, GE Capital – Corporate Aircraft Finance

9:15 a.m. – 10:00 a.m.
The Global Economy

Presented by: Rob Podorefsky, Managing Director – Interest Rate Management, GE Capital

The condition of the global economy is a critical factor in the strength of the business aircraft market. This session will examine the state of the global economy and the primary drivers of the economy, how it got to here and where it seems to be going.

10:00 a.m. – 10:45 a.m.
Emerging Trends and Fundamental Changes in the Business Aircraft Market

Presented by: Rolland Vincent, JETNET iQ

The industry continues to respond to a changing environment both structurally through consolidation or retraction as well as through changes to the products and services offered. This session will address the changes that have occurred over the last year and what these changes say about where the industry is headed.

10:45 a.m. – 11:15 a.m.
Morning Break

Sponsored by: TVPX 1031 Exchange Co.

11:15 a.m. – 12:00 noon
NextGen: The Future of the Air Transportation System

Presented by: Bob Lamond, Director, Air Traffic Services & Infrastructure, NBAA; Carmine Gallo, Eastern Region Administrator, Federal Aviation Administration; Jim D'Ambrosio, Air Traffic Manager, Houston ARTCC

NextGen is frequently discussed as a way of improving air traffic congestion, yet it will require significant upgrades to existing equipment. This session will provide an overview of NextGen, the investment that will be required by aircraft owners and operators and the government, and the benefits of modernization.

12:00 p.m. – 1:30 p.m.
Lunch – Keynote Address: The Political Environment – Impact on Aircraft Acquisitions

Presented by: Ed Bolen, President and CEO, NBAA

Sponsored by: Crowell & Moring LLP

Business aviation continues to be misunderstood by the press and the government continues to propose legislation that could change some of the fundamentals on which parties rely when deciding to acquire general aviation aircraft for business use. This luncheon presentation will address the importance of a positive industry’s image and what is being done to fight back as well as proposed changes to tax depreciation and aviation user fees, and how the industry can help.

1:30 p.m. – 2:30 p.m.
FAA Developments – Non Citizen Trusts

Presented by: Frank Polk, Partner, McAfee & Taft and Jon Croasmun, Vice President, Wells Fargo Bank Northwest, N.A.

As part of its ongoing review of non-citizen trusts, FAA issued a Proposed Policy Clarification (PPC) that, if adopted, could affect the use of these trusts for registering at the FAA aircraft which are owned by companies that may not qualify as U.S. citizens. This session will discuss the FAA's position as described in the PPC, the issues raised at the June 6, 2012 public meeting and the potential impact the PPC could have if finalized.

2:30 p.m. – 3:00 p.m.
Afternoon Break
3:00 p.m. – 3:45 p.m.
Aviation Insurance

Presented by: Patrick Brafford, Managing Director, Aviation Practice Leader East & South Regions, Marsh Aviation; Tim McSwain, Chief Claims Officer, Allianz Aviation Managers, LLC; and Ellyn Slow, President, Ellyn Slow Consulting

Appropriate aviation insurance is one of the key components of operating an aircraft. This session will address issues including the degree to which insurance can be used to mitigate geopolitical risks and issues that arise when there is a significant disparity between the fair market value of an aircraft and the level of insurance required by a lender/lessor.

3:45 p.m. – 5:00 p.m.
The Ever-Expanding Impact of Federal Excise Tax on Business Aircraft Operations

Presented by: Eileen Gleimer, Partner, Crowell & Moring LLP; Ed Kammerer, Partner, Hinckley, Allen & Snyder LLP; and David Rimmer, President, ExcelAire LLC

The IRS Chief Counsel recently issued a Chief Counsel Advice (CCA) that expands the categories of management/charter arrangements that would trigger the payment of federal excise tax (FET) and increase the items that would be subject to the FET. This panel will discuss the content and impact of the CCA from the perspective of the management company and the aircraft owner as well as practical business considerations.

5:00 p.m. – 5:15 p.m.
Day 1 Recap
5:30 p.m. – 7:00 p.m.
Networking Reception

Join the presenters and your fellow attendees for a drink, hors d’oeuvres, networking and socializing

Day 2 – Friday, June 22, 2012

8:30 a.m. – 9:00 a.m.
Continental Breakfast
9:00 a.m. – 9:15 a.m.
Day 2 Introduction
9:15a.m. – 10:00 a.m.
Here & Now – Where is the Business Aircraft Market?

Presented by: David Strauss, Managing Director, UBS Investment Research

What is the current state of the business aircraft market and what has changed over the last year? Is the condition improving – for some? for all? Where will the aircraft market likely be in five years?

10:00 a.m. – 10:45 a.m.
Missed or Misunderstood Costs of Ownership

Presented by: Mike Dwyer, Principal, Guardian Jet, LLC; Gary Horowitz, Special Counsel, Wiley, Rein & Fielding; and Glenn Hediger, Aviation Financial Consulting, LLC

Determining the cost of operating an aircraft requires consideration of a broad range of costs and the impact of different operating and ownership structures. This panel will address the costs associated not only with the actual operation of the aircraft but also tax and accounting implications which may increase or decrease the bottom line.

10:45 a.m. – 11:15 a.m.
Morning Break

Sponsored by: Wells Fargo

11:15 a.m. – 12:15 p.m.
Evaluating Financing Options

Moderated by: Dave Labrozzi, President, GE Capital Corporate Aircraft Finance

Panelists: Rudy Tenore, Senior Vice President, Banc of America Leasing & Capital, LLC; Joanne Barbera, Partner, Barbera & Watkins; and Jason Huff, Partner, Moore & Van Allen

The Great Recession and its unprecedented collapse of aircraft values has caused lenders to reevaluate and in many cases, reset lending standards and product offerings. This panel will address these changes from both lender and customer viewpoints relative to financial products, underwriting and documentation standards, loss mitigation and access to capital markets.

12:15 p.m. – 1:30 p.m.
Lunch

Sponsored by: GE Capital Corporate Aircraft Finance

1:30 p.m. – 2:15 p.m.
Today’s Compliance Reality – Know Your Customer and the Need for Complete Transparency

Presented by: Don A. Smith, GE Capital Americas, Corporate Aircraft AML Leader and Elisabeth McCarthy, GE Capital Americas, Corporate Aircraft Counsel

How much do you know about the party you are dealing with? The need for information has become more important than it ever was. Confidentiality no longer rules – at least not with the other party in the business relationship. What can and should be done to make sure you have the necessary information before commencing a business relationship with another party.

2:15 p.m. – 2:45 p.m.
Afternoon Break
2:45 p.m. – 3:45 p.m.
Exercising Due Diligence in Selecting an Aircraft, Service Provider and Operator Operations

Presented by: Lee Rohde, President, AMS and David Norton, Partner, Shackelford, Melton & McKinley, LLP

Making sure you have the right aircraft and service providers is a critical element for success. Having the right aircraft will not matter if the company you hire to complete, manage or maintain the aircraft cannot perform as expected whether as a result of financial difficulties or a lack of appropriate expertise. This session will address some of the things a party can do when acquiring aircraft or contracting for services to ensure everything will turn out when and as expected and what to do if things go wrong.

3:45 p.m. – 4:30 p.m.
Workouts – What Happens When Things Start Going Wrong?

Presented by: John Karesh, Partner, Vedder Price P.C. and Joel Shapiro, Blank Rome LLP

Although the industry has settled down, the disparity between the fair market value of aircraft and the aircraft value when many loans and leases were executed remains. In many cases, the parties continue to perform as required under the agreements. In others cases, they cannot or will not. This session will discuss the types of issues that arise during the workout/forbearance phase including the sale and marketing process and timeline, deficiency notes, guarantor issues and the possible restructuring and continuation of the relationship.

4:30 p.m. – 4:45 p.m.
Closing Remarks

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