London office advises easyJet on new Airbus order

Global law firm Norton Rose Fulbright has advised longstanding aviation client easyJet on its new order of 157 Airbus A320neo family aircraft with purchase rights for a further 100 aircraft.

The transaction has an overall value of approximately US$19.9bn (based on Airbus last published list prices), spread over a number of years and subject to agreed price concessions negotiated between Airbus and easyJet.

The new Airbus order is a significant landmark for easyJet, enabling future growth for the airline with the cost benefits and sustainability improvements associated with the latest new generation aircraft technology.

As part of the deal, easyJet also agreed to exercise conversion rights within its current order book to convert 35 A320neo deliveries into larger A321neo aircraft with resultant improvements in fuel burn, CO2 emissions and operating costs per seat.

The Norton Rose Fulbright team was led by Norton Rose Fulbright Partners Owen Mulholland and Richard Green. Over the past 12 months, the Norton Rose Fulbright team worked alongside easyJet and advised the airline on all aspects of the process, from the initial stages of supplier selection through to the negotiation and conclusion of the final contract with Airbus. The firm has acted for easyJet on all of its previous Airbus orders since easyJet placed its first order with Airbus in 2003.

Owen Mulholland commented:

“We are delighted to have worked with the easyJet team on their latest Airbus order. It was a strategically important transaction for easyJet and one on which the teamwork and shared focus of the Norton Rose Fulbright and easyJet teams achieved a great end result for easyJet.”

Alongside the new Airbus order, easyJet has announced that it has selected CFM to engage with in exclusive negotiations for the supply of engines for the new order and the Norton Rose Fulbright team, led by Partner Richard Green, continues to advise easyJet on those negotiations.

Norton Rose Fulbright’s aviation lawyers work with airlines, as well as banks and financiers, lessors and other industry participants on the full range of aviation legal services, including fleet selection programs, partnering arrangements with fellow carriers, travel companies and other third parties, regulation, restructurings, competition law compliance and aviation commercial contracts. The firm also advises on major aircraft financing and leasing transactions, including acting on significant ‘first-of-their-kind’ matters.

The practice holds 10 Tier 1 rankings across the leading legal directories, Chambers and Legal 500, based on the feedback of its clients and peers. The firm was awarded the ‘Most Sustainable Aviation Law Firm’ at the Airline Economics’ Sustainability Awards for its active role in supporting the pursuit of its clients’ sustainability objectives.