UCD Smurfit Executive Development has launched a fully accredited Professional Diploma in Aviation Finance aimed at mid-to-senior managers and leaders in the industry. The new programme complements UCD’s highly successful MSc in Aviation Finance which caters for pre-experience students and will address real-world workforce challenges faced by experienced managers and leaders in the sector.
The diploma programme has been developed in response to demand from the industry, according to Prof John Cotter.
“Ireland is the leading aviation leasing location in the world,” he says. “Fourteen of the top 15 global aviation leasing companies are located in Ireland and Irish people are running these companies. It’s not the most important part of financial services but it is a very big part and very important for Ireland.
“A number of the leading companies came together several years ago and said they wanted to attract new talent, people with relevant skills and who understand the industry. What came out of that was the UCD masters in aviation finance seven years ago. The aviation leasing companies helped to design and develop the curriculum and it has been a big success since then. The industry now wants to develop talent at the executive level.”
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Senior people in the industry may come from legal or accounting backgrounds and have been learning about aviation leasing on the job, says Cotter. The new diploma programme will formalise industry-specific learning and development for that post-experience cohort.
Demand for talent is only going in one direction, as Prof Thomas Conlon explains. “The industry is going to continue to grow rapidly over the next 20 years,” he says. “It is estimated that airlines and aviation finance companies are going to raise trillions of dollars to finance aircraft deliveries over that period.
“The industry is effectively commoditised and companies in it compete through their people. Having skilled employees with professional qualifications like the MSc in Aviation Finance and the new professional diploma is a key differentiating factor which will help companies address the challenges they are going to face over the next 20 years.”
Participants on the professional diploma programme will acquire a detailed understanding of the financial processes associated with the aviation finance sector, including suitable risk assessment and aircraft asset management, accounting issues, financing and credit enhancement, leasing developments and insurance applications.
There will also be a substantial focus on sustainability issues and how finance can support the sector’s net-zero targets. They will develop the knowledge and skills necessary to reach the highest level in the aircraft and airline financing industry.
The fully accredited diploma also forms part of UCD Smurfit Executive Development’s MSc Pathway, which enables executives to acquire a full MSc qualification, the MSc Business (Leadership and Management Practice), if they to complete three relevant diploma programmes.
“The programme will be delivered in six two-day modules,” Conlon adds. “It has been tailored to meet the needs of busy executives. They will learn about the dynamics of aviation finance, aircraft as an asset class, taxation, accounting, credit enhancement, industry-specific finance tools, navigating the capital markets and securitisation. They will also learn how finance can influence the journey to net zero.”
Sustainability is a key focus of the programme. “This is one of the biggest challenges facing the industry in the years ahead,” says Cotter. “Ireland is at the cutting edge of research into aviation sustainability and UCD Smurfit Executive Development is supporting industry on its decarbonisation journey.
“The industry recognises the risks presented by the transition to net zero. It will require a combination of approaches in areas like finance and engineering. All sorts of things need to be done for the long term out to 2050 but also in the near term and the present.”
Business fundamentals will also be covered. “One of the key success factors for Irish aviation finance firms has been the ability to negotiate and do deals,” says Cotter. “We have taken the module on negotiations from the masters programme and will deliver it to diploma students.”
The diploma programme is the result of a partnership with the industry, he adds. “We co-created the curriculum with the aviation companies. We will continue to work closely with the industry to ensure the programme remains relevant to its needs. If you look at the programme in three years’ time it will probably have changed. It will evolve with the industry over time.”
Applications are open for the first programme which will run from March to September next year.
“It has been designed for 15 people, so we expect demand to exceed the number of places available,” says Conlon.
“We also expect a number of participants to travel from Asia and other parts of the world for the programme. We see this in other Smurfit Executive Development programmes where people fly in for a few days a month to participate. Anyone interested in the programme should get in touch with Smurfit Executive Development as soon as possible, as competition for places will be quite intense.”
For more information or to apply for the Diploma in Aviation Finance contact UCD Smurfit Executive Development at exec.dev@ucd.ie