Aviation & Transport Finance: Experience

Some examples of our experience include:

Asset-backed securitisations

  • Carlyle Aviation Management Limited on its AASET 2024-1, AASET 2024-2, AASET 2025-1 and AASET 2024-2 asset-backed securitisation transactions.
  • Irish transaction counsel on Castlelake's CLAS 2025-2, CLAS 2025-1, CLAS 2021-1 ABS and CLAS 2017-1R ABS transactions.
  • Irish counsel for the managing agent on the SLAM 2024-1 ABS.
  • Sculptor Capital on its LUNAR 2020-1 and SOLRR 2021-1 ABS transactions.
  • Irish transaction counsel to the Initial Purchasers on the aviation sector's first broadly syndicated aircraft loan securitisation whereby SALT 2021-1 Trust issued a total of US$893.5m of notes backed by loans secured by 156 aircraft operated by 45 airlines operators located in 29 jurisdictions.
  • Irish transaction counsel on Merx Aviation’s MAPS 2021-1, MAPS 2019-1 and MAPS 2018-1 ABS transactions.
  • Irish transaction counsel on Air Lease Corporation’s BBIRD 2021-1 and TBOLT I, TBOLT II and TBOLT III ABS transactions.

New platforms/portfolio acquisitions/joint ventures

  • HALO on the establishment of its Irish aircraft financing platform.
  • Hassana Investment Company on the establishment of its joint venture Irish leasing platform with AviLease.
  • Asterion Industrial Partners on the establishment of its aircraft leasing platform.
  • High Ridge Aviation on the establishment of its aircraft leasing platform. 
  • ITA Airways on structuring its Irish special purpose company and private placement bond issue for its first aircraft acquisition.
  • GECAS on its partnership with PIMCO to develop US$3bn supported aviation leasing platform.
  • Crestone on its establishment of an Irish platform.
  • Perseus Aviation on its establishment of an Irish platform.
  • Fly Leasing Limited on its issuance of an additional US$100m aggregate tack-on unsecured senior notes which were fungible with the company's existing approximately US$290.4m aggregate senior notes.
  • Griffin Global Asset Management on its Palisade Aviation joint venture with Bain Capital Credit and US$1bn secured warehouse facility.

Mergers & acquisitions

  • Castlelake on the sale of its US$5bn / 118 aircraft portfolio to Avolon.
  • Abelo and Oaktree on the sale of Abelo to Cerberus.
  • Financiers on the acquisition of Falko Regional Aircraft by HPS Investment Partners.
  • Financiers on the acquisition of Standard Chartered’s aircraft leasing platform by AviLease.
  • Irish counsel to GE on the US$30bn combination of GECAS and AerCap.
  • Carlyle on its US$2.36bn acquisition of Fly Leasing.
  • Irish counsel to InterGlobe in connection with its acquisition of Airborne Capital.
  • PK Airfinance on the sale of its operations to Apollo Global Management, LLC and Athene Holding Ltd.

Restructurings

  • Teneo Restructuring Ireland on the $4.5bn liquidation of GTLK Europe DAC and GTLK Europe Capital DAC, the largest in state history.
  • Financing an investment consortium on US$1.2bn investment and Chapter 11 exit financing to SAS.
  • Several creditors to Norwegian Air during its Irish examinership proceedings.
  • Voyager Aviation on its out-of-court exchange offer restructuring.
  • Group of secured creditors to Nordic Aviation Capital on its Irish scheme of arrangement and Chapter 11 restructuring.

Warehouse, portfolio and other financings

  • CALC on its US$700m warehouse facility.
  • Financiers on Azorra facilities and offerings - US$464m term loan B facility, US$750m revolving credit facility and a US$238m recourse debt facility.
  • Irish transaction counsel on ASL Aviation's secured term loan facility with Goldman Sachs and Pacific Western to finance 16 aircraft.
  • Deutsche Bank on its US$3bn syndicated loan to Lufthansa.
  • Itasca MGA on certain insurance supported aviation loan facilities.
  • KfW on its Balthazar supported financing of one widebody aircraft with Crianza Aviation and Singapore Airlines.
  • US Ex-Im and AFIC joint supported financing by Apple Bank of a Gulfstream jet.
  • NCB Capital on establishing its Dara Aviation platform and Murabaha aircraft warehouse facility.
  • Aero Capital Solutions in connection with its funds and related warehouse facilities.
  • Carlyle Aviation Management in relation to a number of PDP financing transactions.
  • Many other warehouse facilities as counsel for both lenders and borrowers including for Chorus Aviation, Sculptor Capital, Stellwagen, Air Lease, Merx Aviation, Perseus Aviation and Apollo Global Management.