Aviation Services

Recent estimates suggest that demand for air transport will increase by an average of 4.3% per annum over the next 20 years. If this growth path is achieved by 2036 the air transport industry will then contribute 15.5 million in direct jobs and $1.5 trillion of GDP to the world economy.

As the world is recovering from the impact of the pandemic and the new variants add risk, the challenge for the aviation industry is to uncover and extract value in the face of ever more competition for passengers.

Our team of dedicated lawyers can help you achieve your commercial objectives in the most complex matters with innovative thinking and a comprehensive range of legal services, combining finance, tax, corporate (including joint ventures and M&A), restructuring, insolvency, regulatory compliance, insurance, and dispute resolution.

Our advice covers all types of financing, leasing, and trading from debt finance, operating leasing, finance leasing, wet leasing, PDP finance, portfolio trades, tax leasing products to capital markets products.

We have advised leading airlines, lessors, and banks, including Singapore Airlines, Jackson Square Aviation, Scoot, AirAsia Asia Aviation Capital, Lion Air Transportation Partners, Cebu Pacific, TEAM, ST Engineering, Avolon Deucalion, Keystone Holdings, ICBC Leasing, CDB Leasing, Bocomm Leasing, Daiwa, Aviation Deutsche Bank, DVB Bank (now MUFG), CIC and BNPP on numerous aircraft and aircraft engine leasing, financing, and trading transactions.

We advise on restructurings and have extensive experience of aircraft repossessions and mortgage enforcements worldwide. Our lawyers also advise on commercial disputes and insurance claims relating to aircraft and aircraft engines.

Key Experience

Capital Markets

Total Engine Asset Management on the establishment of its asset backed securitisation programme for 30 aircraft engines operated by airlines across 11 jurisdictions, which was the first ever aircraft engine backed ABS by an Asian lessor.
Transportation Partners on its US$1.1 billion EXIM backed financing of a fleet of B737-900ER aircraft operated by Lion Air and subsequent capital market take-outs.

Corporate

ST Engineering on the establishment of a new joint venture platform for the leasing of freighter aircraft in collaboration with Temasek Holdings.

Financing and leasing

Advising Singapore Airlines on its partnership with DHL Express for the leasing of 5 freighters and related cargo carriage arrangements.
A leading Chinese leasing company on an operating lease between its SPV and a Mediterranean airline.
Total Engine Asset Management on a Japanese operating lease with call option for two engines operated by an Indonesian airline, which was the first ever aircraft engine backed JOLCO by an Asian lessor.
A leading Chinese leasing company in respect of a JPY 20 billion Samurai loan coupled with a cross currency swap, from a leading Japanese bank.
A leading Chinese leasing company on a put option agreement and a standby lease in respect of seven French tax leases for a fleet of seven Boeing 737 Max aircraft, between a syndicate of international banks and a Mediterranean airline.

OEM agreements

Advising a leading airline on its OEM engine service agreements and the restructuring of the related engine leases.
Lion Air on its then record order of 234 Airbus aircraft worth US$24 billion.
VietJet on its orders of 100 Boeing aircraft and 50 Airbus aircraft worth US$20 billion in aggregate.

Restructuring

Advising a top global lessor on the restructuring of lease arrangements involving an Indonesian airline and a Malaysian airline.
A leading Chinese leasing company on the lease restructuring of two Airbus 320 leases to a Southeast Asian airline, backed by government guarantees.
A leading Chinese leasing company on the lease restructuring of four Airbus aircraft.
A Korean airline on the restructuring of its debt and leasing obligations under all its existing 170 debt agreements, operating leases, finance leases and bond agreements.
A Korean airline on the restructuring of 135 debt, lease, and bond contracts.

Trading

Advising a leading airline on bespoke trading arrangements involving the exchange of 8 engines.
AirAsia Berhad on a series of Labuan tax driven novations in respect of a portfolio of aircraft owned by various lessors and leased to AirAsia Berhad.
Advising a top global lessor on the sale to an ABS vehicle of 2 aircraft on lease to a Singaporean airline.
Advising a leading airline on its sales of 6 aircraft to a top global lessor.
AirAsia on the sale of a 24 aircraft portfolio worth US$800 million to Castlelake.