Norton Rose Fulbright advises on multiple winning deals at Aviation 100 Awards

Global law firm Norton Rose Fulbright’s aviation team has been recognised for advising on a range of winning deals at the 11th Aviation 100 Deals of the Year Awards 2022.

The Aviation 100 Awards were hosted by Airline Economics, a leading specialist publication focusing on the commercial aviation finance and leasing industry. 

The deals that Norton Rose Fulbright’s global team advised on were judged to be deals of the year in an unprecedented seven categories. They were selected from 150 nominations, submitted from across the world, for aviation finance and leasing transactions.

Duncan Batchelor, global head of aviation at Norton Rose Fulbright, said: “We have been privileged to advise on some of the industry’s most important and innovative deals over the past year. Each deal has its own unique feature - a ‘first of’ financial structure, introducing sustainability criteria, and a first-ever pre-negotiated Chapter 11 restructuring by an airline. We were able to support our clients from our global team, including lawyers from our Paris, Singapore and New York offices. We look forward to continuing to support our clients as the sector emerges from this challenging period.”

The winning deals at the Aviation 100 Awards, advised on by Norton Rose Fulbright, include:  

• Lease Deal of the Year and European Lease Deal of the Year - ACG-Guaranteed Financing for Italian Tax Lease to THY
  The firm acted for Société Générale in the financing of three A321neo aircraft for Turkish Airlines (THY). This was an innovative structure which combined the ACG guarantee product with an Italian lease structure and was closed in a very short timeframe. The team was led by George Paterson.
• Supported Finance Deal of the Year and Sustainability Lease Deal of the Year:  AFIC & Balthazar supported sale-leaseback financing two 787-10s and one A350-900 for Singapore Airlines
  The firm advised on the AFIC & Balthazar supported sale-leaseback financing of two 787-10s and one A350-900 for Singapore Airlines. Keith Sandilands led our advice to Singapore Airlines. George Paterson led our advice to KfW on one of the A350 Balthazars.
• Sustainability Supported Finance Deal of the Year: Sustainability-Linked Balthazar-supported Senior Secured Loan for one A350-900 delivered to Air France
  The firm acted for Société Générale, the mandated lead arranger and lender, in negotiating and drafting the financing documentation. This was a landmark and innovative financing as it was the first sustainability-linked aircraft-secured term loan provided to an airline. The team was led by partner George Paterson.
• European Supported Finance Deal of the Year: SunExpress – UKEF-guaranteed facility for the purchase of Boeing aircraft
  The firm advised UK Export Finance (UKEF), which guaranteed the loan for Turkish airline operator SunExpress’ purchase of Boeing aircraft. The team was led by partner George Paterson.
• Asia-Pacific Restructuring Deal of the Year: Philippine Airlines Chapter 11 cross-border restructuring
  Norton Rose Fulbright advised Philippine Airlines Inc. (PAL) as special aircraft counsel in its consensual restructuring, which was implemented in PAL's Chapter 11 plan. This is the first-ever pre-negotiated Chapter 11 restructuring by an airline. The team was led by partners Keith Sandilands and David Rosenzweig.

Norton Rose Fulbright also advised on a number of winning deals at this year’s Airfinance Journal Awards.

The firm’s aviation practice holds 11 tier 1 rankings across the leading legal directories, Chambers and Legal 500, based on the feedback of our clients and peers.