Ireland has emerged as a leading centre in the aircraft leasing industry. At present, over half of all operating commercial aircraft are leased and over fifty percent of the world's leased aircraft are managed from Ireland. This module aims to provide students with a systematic coverage of the important aspects of aircraft leasing and explains why this financing mechanism has become a core competency when acquiring and managing aircraft. Students will be introduced to the key concepts and processes involved in the efficient management of aircraft leasing. The module present the framework for best practices from an aircraft lessee's perspective while appreciating the fundamental requirements for an aircraft lessor. The module will provide students with the tools to analyse the key constituent paths from selection of the asset, acquisition, securing, managing and finally divesting of the asset. The major objectives of the module are: 1. Outline the different mechanisms that are available to finance aircraft 2. Provide a thorough examination of the aircraft and engine leasing market 3. Provide a comprehensive analysis of the content of an operating and financial lease and the factors to be considered when negotiating these leases. 4. Explain how aircraft are financially valued and the dynamics of aircraft valuation throughout their economic life.

Development of the aircraft and engine leasing industry; Different ways to finance aircraft; Characteristics of the different types of Aircraft Leases; Selecting and acquiring the asset; An in-depth analysis of an Operating Lease; Analysis of a Financial Lease; Engine Leasing; Financial and technical issues arising in the context of lease negotiations; Legal status of aircraft, jurisdiction, nationality, registration and securing the asset; Maintenance reserves; Return conditions of aircraft; Formulation and negotiation of lease contracts and letters of intent; Managing the asset; Aircraft Repossession; Divesting the asset from lessor and lessee perspectives; Aircraft valuation - factors affecting aircraft residual value through the economic cycle and residual value forecasting.

• Understand the fundamentals of the aircraft and engine leasing industry • Explain the different types of financing, including securitisation, that are available in the marketplace when procuring aircraft • Distinguish between the aircraft and engine leasing business requirements • Describe the key characteristics of operating and financial leases • Outline the main terms in an aircraft/engine leasing contract • Explain and evaluate the crucial terms in operating leases, such as deposits, maintenance reserves, return provisions, operating restrictions and defaults • Identify and examine the legalities and associated risks of aircraft asset management • Appreciate the life cycle cost of ownership and the importance of residual value management. • Describe the significance of aircraft economics, technology evolution and other factors in determining aircraft residual values from both airline operator and aircraft leasing company perspectives.

• Display a level of expertise in aircraft leasing contracts • Evaluate risk and comprehend pricing/valuing within a leasing context • Make judgements on the future direction and analyse trends within the aircraft leasing.

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Lectures, tutorials and group assignments will be used to meet the learning outcomes. Classes will include standard lecture notes and discussion of practical relevant examples plus the presentation of case studies, ensuring the content reflects best industry practice. Student group work will form part of the presentation and assessment of the module. The module will reflect the UL graduate attributes as follows: Knowledgeable: Students will gain a deep knowledge of through practical examples, coursework and in-class group work; Proactive: Students are expected to be proactive in their own learning through independent study and group work; Responsible: Students will develop a sense of responsibility through class discussions on various ethical issues pertaining to the aircraft leasing industry; Collaborative: Students will be required to participate in class discussions and group work; Articulate: Students will become articulate in expressing advice through the use of in-class discussions, presentations and written coursework.