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Clifford Chance

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Clifford Chance advises Novus on the sale and leaseback of two Boeing 737 MAX 8 with flydubai

9 August 2021

Clifford Chance advises Novus on the sale and leaseback of two Boeing 737 MAX 8 with flydubai

Leading international law firm Clifford Chance has advised Novus Aviation Capital (Novus) on the sale and leaseback and financing of two Boeing 737 MAX 8 with flydubai.

Novus is an independent, privately-held aircraft leasing platform, focused on investing in commercial aircraft assets. Established over 27 years ago, the company currently co-owns and manages aircraft-related projects worth approximately US$4 billion.

The transaction is the first transaction Novus has completed with flydubai and marks the resumption of Boeing 737 MAX aircraft deliveries in the United Arab Emirates. Sale and leaseback of aircraft is one of many products and services Novus offers and the company is well positioned to support airline growth following the global pandemic.

Senior Associate Andrew McAdam (Dubai) was the lead lawyer on the transaction, with support from partners Paul Carrington (London) and Nicola Reader (Abu Dhabi). Andrew comments: "We are delighted to continue our relationship with Novus Aviation Capital, and to work with them on supporting the strong recovery of aviation in the UAE".