With the support of Airbus, Safran CFM, AerCap, Apollo.
Tony Fernandes - founder Air Asia
Eric Chen - Chairman Airbus China.
Content and objectives
The air transport industry is an economic activity characterized on one hand, by an important capital investment which requires significant financing in the various areas (aircraft, airlines, airports, air navigation, aircraft maintenance etc) and on the other hand, by the low returns of this high capital investment.
Acquiring knowledge and skills relating to the methods of financing the air transport sector and, in particular, the aircraft leasing, represent a real added value for air transport managers. Such knowledge is crucial in the aircraft leasing business in particular, where skilled management is a real competitive advantage. Indeed, the aircraft financing has become an efficient tool for strategic thinking to accompany the growth of the aviation industry as well as for the determination of future trends in air transport. Many airlines, some of which have now become major players in this industry, would never have been able to see the light of day, without the use of suitable financing for aircraft leasing. Aircraft financing arrangements are also precursors to the innovation of air transport and aeronautics. These include the introduction of new products and services and, induce growth relays synonymous with wealth creation.
The airline industry has a need for aircraft finance professionals who will accompany the growth of air transport. The development of training courses, relating to the financing of this industry and in particular to the financing of aircraft, will add significant value to the aviation industry. Companies in the air transport sector have come to recognize the current extremely competitive economic and financial climate as a fact of life, calling on them to demonstrate considerable powers of adaptation.
Professional prospects and career opportunities
This Advanced Master in Air Transport Finance Management is designed to meet the expectations of the airline industry and more specifically of the aircraft financing and leasing industry. In essence, it therefore covers all the actors of this industry but also organizations such as financial support for aircraft manufacturers, airlines or export credit agencies. The aircraft financing function of these entities is in fact responsible for finding the most competitive and most suitable financing to buy or sell aircraft according to their needs or their objectives.
This program provides the skills to better understand and master the strategic issues of aircraft financing and leasing in the airline industry.
Professional managers who successfully complete the Advanced Master in Air Transport Finance Management will be able to assume all the responsibilities of the aircraft financing and leasing industry and will thus be able to contribute to the strategy of their respective organizations. At the end of the course, these professionals will have theoretical and practical skills to manage the aircraft financing and leasing by combining the financial and technical know-how essential to understanding the reality of the aircraft financing market. They will also be able to participate in the establishment of future trends in the definition of the products and services of the aircraft financing and leasing industry to orient their organizations towards more value creation. This participation will result in a professionalization and development of the field of financing and leasing of aircraft and, consequently, will contribute to the development of air transport in the world.
The program is based on a systemic approach of the various functions involved in the aircraft financing and leasing, with, in particular, a focus on the current market. This allows future graduates to master not only the academic foundations of this activity, but also to acquire the practical skills of this industry that will allow them an easy, effective and operational integration into their position with a strategic vision through the integration of the different parameters of aeronautical financing with the technical elements of the world of air transport. This program will also enable effective communication with the various stakeholders of the globalized and increasingly complex air transport environment. It will provide students with numerous interactions with the highly experienced professionals of the aircraft financing and leasing industry, including the recent Asian new entrants. The graduates of this program will be a major asset for companies involved in the aircraft financing and leasing industry, who aspire to further the professionalization of this activity.
Duration: October 2019 to March 2021
The Air Transport Finance Management Programme received accreditation from the Conference des Grandes Ecoles in France in February 2018. The course is run by ENAC. Modules will be delivered in Hong Kong, Beijing, Shanghai and Toulouse.
1st semester (October 2019 to September 2020)
12 modules of 4 days each
• Air Transport Economics
• Overview and fundamentals of the aircraft financing
• Fleet selection and financing considerations for airlines
• Commercial debt, debt capital market, aircraft loans, pre-delivery payment financing
• Managing risk: Asset risk, Airline credit risk, liability risk
• Aircraft valuation
• Asset management, deliveries & redeliveries
• Crisis management
• Deal Structuring
• Taxation & Optimization of various aircraft leasing platforms
• Cultural Competencies and the Global Mindset
• Lessors' growth strategy, merger & acquisition, IPO
2nd semester (September 2020 to March 2021)
Students carry out a professional thesis in the aircraft finance and leasing industry, in an aircraft leasing company or in an airline, aircraft manufacturer, supervised by a tutor from the host organization and a professor from ENAC. The thesis is concluded by the preparation of a report and an oral presentation in front of a combined jury.
How to apply?
Applicants for an Advanced Master program must have a Master’s degree in science or in engineering or management according to the selected program, or a Bachelor’s degree with at least 4 years of professional experience.
Requested language qualification:
• TOEIC: 785
• TOEFL (IBT): 79
• TOEFL (CBT): 180 – 226
• TOEFL (PBT): 550
• CAMBRIDGE: First (FCE) Business Vantage (BEC)
• IELTS: 6.5
Selection and admission to ENAC’s Masters and Advanced Masters at:
Selection and admission made by admission committees organized from March to September 2019.