Ihab Arja speaks at the 1st Indian Corporate Aviation Summit
Ihab Arja participates as member and a keynote speaker of the “Financing & Leasing Business Jets in India" panel discussion
Ihab Arja, Senior Lawyer / Aviation Expert at Al Jallaf Advocates, participated as member and a keynote speaker of the “Financing & Leasing Business Jets in India” discussion panel at the First Indian Corporate Aviation Summit (ICAS) which was held on Friday, November 9th 2018, and took place at the Holiday Inn Hotel in New Delhi, India.
Ihab delivered a comprehensive overview of the Cape Town Convention & the Aircraft Protocol thereto, both ratified by India on 31.03.2008 and entered into force on 01.07.2008.
He highlighted that the principal objective of the Convention is to ensure efficient financing of high value mobile equipment such as aircraft, in order to create the required confidence, and to make the operations as cost effective and affordable as possible.
He discussed the current situation in India regarding the application of the Convention, and some recommended procedures to make full use of the same to be beneficial to the aviation stakeholders in the country.
To this end, India is bringing in the “Cape Town Convention Act” that includes the protocol and the declarations made by India.
The Act provides greater confidence to the intending creditors resulting in reduction of the risk applicable to asset-based financing and leasing transactions which will result in reduction in the cost of aviation credit and will also bring down the lease rentals. This will be of immense help to the Indian aviation industry.
Ihab also delivered some proposed measures and solutions to mitigate the risks in Aviation Financing sector, by adopting the blockchain technology and smart contracts for managing such transactions.
ABOUT THE AUTHOR
Ihab is an Italian attorney-at-law and expert in the aviation sector. He has been engaged in commercial and regulatory law practice for many years, with a focus on aviation.
He has an extensive experience in high-profile litigation, aircraft financing and leasing, aviation regulation, aircraft accident investigations and policy & business aviation issues.
During his career, he has been actively involved in a full range of legal matters arising in the aviation industry, including drafting aviation legislations, participating in major Privatization and Public–Private Partnership projects, delivering regulatory consultations & proceedings, handling general aviation and commercial issues including sale, purchase and lease of aircraft transactions, aircraft & air navigation services’ insurance and reinsurance, and other environment, security & safety issues.
Ihab has addressed numerous conferences on aviation law and aircraft financing & leasing in the Middle East, Europe and Canada, and published on a variety of issues, including commercial aviation developments, environmental regulation impacting the aviation sector and the Cape Town Convention and its Aircraft Protocol.
He is a member of ICAO’s Commission of Experts of the Supervisory Authority of the International Registry (CESAIR) for the purposes of the Cape Town Convention (CTC) and the Aircraft Protocol.