No description available.

D.Comm. / The airline industry is one of the fastest-growing industries in the world today. The average international air traffic growth will be approximately 5.1% per annum, compared to an average worldwide economic growth of 3.2% per annum, for the period 1996 — 2015. This would lead to an estimated yearly demand for aircraft financing of between US530 and US545 billion. However, fundamental changes experienced by the air transport industry, due to liberalisation and deregulation resulting from globalisation, led to excessive competition and industry losses. Airlines and financial institutions alike are therefore pressurised to apply innovative financial techniques and methodologies (or new applications of old techniques) to meet the growing financing needs of the industry. Likewise, the expansion of the domestic and regional South African air transport industry and the isolation of the South African financial institutions prior to 1990 also necessitated an assessment of the airline environments and the factors influencing it. The aims of this study are therefore to contribute to the South African field of knowledge of international aircraft financing techniques and methodologies, in order to assess, from a transport economic point of view, the interface between the internal and. external airline environments in terms of a systems approach and the impact of this on aircraft financing; to assess the extent to which airlines could redress their creditworthiness to ensure profitable operations; and to make an original contribution towards this study field in the form of a more accurate calculation of the net present value (NPV) when options are considered for assetbased financing. In order to achieve the aims of the study, the external, internal and. intangible market airline environments are assessed from a financial manager's viewpoint. The way in which financiers evaluate airline management's ability to manage threats and opportunities from the controllable and uncontrollable variables emanating from these environments was also assessed. The capital markets, transaction structuring, securitisation, and financing techniques and methodologies are then discussed. Finally, some ways in which management could counteract threats and constraints from the environments to maximise system output, and therefore address airline creditworthiness, is discussed. It is concluded that the air transport industry is multi-dimensional, extremely complex and dynamic; that uncontrollable factors, for example, technology and regulation influence an airline's profitability and. thus its creditworthiness; that quality airlines are sought after by financiers; that financiers are evaluating management's business acumen in particular; that a mixture analyses will determine a project's risk, debt capacity and profitability; that strategic planning and a business plan is critical in airline operations; that individual investments should be part of a long-term financial strategy; that a few new developments in aircraft financing are anticipated; that there are numerous ways in which management can cut costs and procure income and that management should be acquainted with available financing techniques and methodologies. This study contributes to an information database of aircraft financing techniques and methodologies that could be used by the South African banking industry. Lastly, a more comprehensive NPV formula makes an original contribution to this study.

published_or_final_version / Business Administration / Master / Master of Business Administration

Thesis. 1975. M.S.--Massachusetts Institute of Technology. Alfred P. Sloan School of Management. / Bibliography: leaf 82. / by Philip M. Condit. / M.S.

No description available.

published_or_final_version / Business Administration / Master / Master of Business Administration

At present, international attention is focused on an emerging draft treaty concerning security interests in mobile goods. Highly valued mobile assets (such as aircraft) by nature move from one jurisdiction to another, and therefore, an international convention dealing the creation and recognition of property rights in such goods is necessary. This thesis will concentrate on the laws governing the taking of aircraft as security. / The draft UNIDROIT Convention, once approved and implemented by states, would introduce a vast degree of economic benefits to airlines and their respective governments, ranging from lower banking interest rates to more credit being generated, all of which will benefit national economies and the traveling public at large. / Given the strong attitude shown by a majority of states that reflects their unwillingness to surrender some basic legal principles relating to property rights, the author considers it proper to undertake this work, which will concentrate on important legal problems relating to international aircraft financing.

No description available.

After more than ten years from its initiation by the Canadian delegation in 1988, the UNIDROIT's legal reform in the area of international security and leasing interests in mobile equipment reached its final stage of discussion at the international level. A Preliminary Draft UNIDROIT Convention on International Interests in Mobile Equipment (" Convention") and a Preliminary Draft Protocol on Matters Specific to Aircraft Equipment ("Protocol") present an evolution of the international security law and the aircraft finance law in particular. The "Convention", as applied through the "Protocol", particularly aims at economic benefits for the aviation industry, which has to cope with considerable financing difficulties due to the uncoordinated national security laws. This thesis addresses legal and economic issues behind the UNIDROIT proposal. / The texts of the "Convention" and the " Protocol" as reviewed by the Drafting Committee of the First Joint Session (Rome, 1--12 February 1999), are attached in the Appendix. (Abstract shortened by UMI.)

Canadian airport authorities benefit from the right to seize and detain aircraft where airport charges remain unpaid. By objective measures, this right constitutes a preferred non-consensual right or interest that takes priority under Canadian law over all competing rights and interests in the aircraft subject to seizure and detention, including, for example, the interests of an owner, lessor or secured creditor. In this manner, airport authorities may recover outstanding user fees from both the airlines themselves and from the aircraft owners or lessors. / The Unidroit Convention attempts to harmonise the law applicable to aircraft finance transactions. As such, it targets private law rights. However, its breadth and scope touch upon the statutory rights of third parties with non-consensual interests in aircraft, including those of airport authorities to seize and detain aircraft. / The interplay between the Unidroit regime and the seizure and detention rights of Canada's airport is the focus of this academic discourse. It demonstrates that even though this right, recourse and remedy is of fundamental importance to Canada's National Airports System and its transportation infrastructure generally, the Unidroit Convention could, if implemented as drafted, effectively compromise the ability of Canadian airports to seize and detain aircraft.