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Clifford Chance

Clifford Chance
Aviation<br />


Global Aviation

Air transportation is a vital contributor to global development and economic growth.

Airlines and airports face enormous challenges - escalating costs, fluctuating volumes in air traffic for passengers and freight, constraints on revenue growth, tighter capital markets, climate protection constraints and uncertainty surrounding aerospace and defence budgets.

However, there have also been positive developments in the market – the over-capacity of the world’s airline industries has been reduced, new business models have been developed, and the aviation industry is establishing a more agile infrastructure to provide increased operating efficiency.

Clifford Chance's internationally renowned Aviation Group – a frequent advisor on headline deals across the world – has worked with all parties in the aviation industry for more than 30 years. Our team is well placed to support clients looking to achieve efficiency and differentiation in these challenging times.

How can we help you?

A first-class Aviation team to support our clients' global needs

Assisting a diverse range of clients – banks, arrangers, finance and operating lessors, investors, airlines, governmental authorities and manufacturers – has given us clear insight into the requirements of transaction parties as well as an in-depth knowledge of the aviation market.

Lawyers from our Antitrust/Competition, Corporate, Capital Markets, Projects, Tax, Insolvency, Regulatory and Litigation practices work together to achieve our clients' objectives.

Our clients draw on the experience of a global Asset Finance practice, which forms part of Clifford Chance's global Transport & Logistics Group and brings together product and industry knowledge to advise clients on their most complex transactions.

Outstanding Aviation sector knowledge

Our global Aviation team are regularly involved in the most ground-breaking and significant deals in the aviation market.

We are able to advise on the most effective structures both for initial equity financing and for flexibility of exit.  We can also anticipate issues which may be raised by both bank and non-bank lenders, and find efficient solutions to keep your transaction moving.

Innovative structured finance techniques

We frequently work on the most complex and innovative leasing and financing structures around the world in order to build tailored solutions for our clients.

Our team has advised airlines, lessors and financiers on Japanese operating leases, Spanish operating leases, debt and equity funding platforms and receivables financing structures.

Recent client highlights

Clifford Chance advises Nordic Aviation Capital on its c.$6.3bn debt restructuring

Nordic Aviation Capital (NAC), the world’s largest regional aircraft lessor, on the successful restructuring of approximately $6.3bn of its secured and unsecured debt. Clifford Chance has advised NAC since the outset of its restructuring process, with discussions first beginning in March 2020.

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Clifford Chance advises Goshawk Aviation, NWS and CTFE on sale of Goshawk Aviation's commercial aircraft leasing platform to SMBC AC at an enterprise value of US$6.7 billion

Goshawk Aviation (as seller), NWS Holdings and Chow Tai Fook Enterprises (each as seller's guarantor) on the sale of Goshawk Aviation's commercial aircraft leasing platform to SMBC Aviation Capital Limited.

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Clifford Chance advises CK Asset Holdings on the US$4bn sale of AMCK Aviation to Carlyle Aviation Partners

CK Asset Holdings on the sale of AMCK Aviation’s portfolio of aircraft to an investment vehicle managed by Carlyle Aviation Partners. The deal has a headline price of over US$4 billion and involved the sale of over 120 aircraft as well as an order book of 20 committed aircraft.

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Clifford Chance advises HSBC on financing of Vistara's first Airbus A320neo aircraft

HSBC on the financing for TATA SIA Airlines Limited's first Airbus A320neo aircraft.

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Clifford Chance advises GE on AERCAP's acquisition of GECAS

The General Electric Company (GE) with regards to AerCap Holdings N.V.'s (AerCap) acquisition of GE Capital Aviation Services business (GECAS). The combined company will be one of aviation leasing’s leading franchises, bringing together complementary portfolios across aircraft, engines, and helicopters.

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Clifford Chance advises Avolon on world's largest eVTOL aircraft order

Avolon, the international aircraft leasing company, with respect to its ground-breaking aircraft order with Vertical Aerospace Ltd. (Vertical), an electric vertical take-off and landing aircraft (eVTOL) manufacturer.

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They are industry leaders. This team would be one of my top two go-to's for our most complex or novel transactions.

Chambers UK 2023: Asset Finance: Aviation Finance

The firm has leaders in the field with knowledge across all aspects of aviation finance and leasing

Chambers UK 2023: Asset Finance Aviation Finance

They are a top-class team and provide timely and well thought-out advice whilst always understanding our commercial imperatives.

Chambers UK 2022: Asset Finance: Aviation Finance
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