Practices

Aviation and Asset Finance

Our expertise:

Our Aviation and Asset Finance Group advises operating lessors, lenders, export credit agencies, finance lessors and lessees on the full range of their asset finance needs. We advise on all aspects of international cross-border asset financing and leasing and give clients specialist advice on their cutting-edge transactions and structures. Our group has significant experience in portfolio securitisations, syndicated financing, aviation-related joint ventures, portfolio sales/acquisitions, leveraged lease structures and tax-based leasing.

Key areas:

Our work includes:

• Acting for international and domestic aircraft owners, lessors and financiers on all aspects of cross-border aircraft financing and leasing, from secured lending to company acquisitions and restructurings
• Advising in relation to the establishment and operation of aviation joint ventures
• Drafting and negotiating leasing, purchase, sale and finance documentation in respect of aircraft-owning SPVs, aircraft, aircraft engines and parts
• Acting as advisers to a wide variety of financial institutions, lessors and lessees in relation to domestic and cross-border tax-based leasing transactions
• Advising foreign and domestic aircraft owners and lessors on issues such as the registration of aircraft on the Irish register, operating aircraft in Ireland and establishing aircraft facilities in Ireland
• Acting for aircraft lessors in connection with the reorganisation of substantial parts of their aircraft fleets and on the restructuring of their portfolios
• Advising in relation to the Cape Town Convention
• Working with colleagues in our Dispute Resolution and Litigation Group in relation to aircraft repossessions

Key highlights include advising:   

• BBAM\FLY Leasing on the acquisition of up to 132 A320neos from Air Asia and its leasing subsidiary Asia Aviation Capital
• AerCap in relation to its US$7.6 billion acquisition of ILFC from AIG, its US$2.6 billion bond issuance and the reorganisation and transfer of the majority of the ILFC fleet (approximately 900 aircraft) into Ireland. The deal was then the largest M&A deal in the aviation industry
• SMBC Aviation Capital in relation to the issue and sale by SMBC Aviation Capital Limited DAC, a wholly owned subsidiary of SMBC Aviation Capital, of $500 million of 3.00% senior unsecured notes due July 2022
• Standard Chartered Bank/Pembroke on the majority of their most significant recent transactions
• Touax Rail and TX Rail Finance 4 Limited on its purchase of a €56 million European railcar portfolio of 1,335 freight wagons
• As Irish counsel to Ex-Im Bank in respect of all Irish law aspects of their backed financing in respect of 37 Boeing aircraft Hong Kong Aviation Capital, as Irish counsel, on a number of financings in respect of aircraft leases to Azul, Jetstar, Sri Lankan Airlines and Volaris