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DLA Piper Advises AviaAM Financial Leasing China on USD 500 Million Aircraft Financing

DLA Piper Advises AviaAM Financial Leasing China on USD 500 Million Aircraft Financing

Russia
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DLA Piper has advised AviaAM Financial Leasing China (AviaAM) on the acquisition, financing, leasing, and delivery of eight Airbus A320 family aircraft for approximately USD 500 million.

Debt funding for the acquisition was provided by China Development Bank, Henan branch, and the aircraft have each gone on a 12-year lease to the largest Russian air carrier, Aeroflot. The first three aircraft were all delivered on the same day with two delivered in Toulouse and one in Hamburg.

AviaAM was established as a joint venture between AviaAM Leasing (a Warsaw Stock Exchange-listed aircraft leasing company) and Henan Civil Aviation Development and Investment Company. AviaAM has expertise in narrow-body aircraft leasing, trading and management and aviation-related business and infrastructure development.

The cross-border DLA Piper team included lawyers from London, Shanghai, and Moscow. The team was led by Finance Partner Richard Skipper in London with assistance from Associate Alison Balfour and included Asia Senior Partner Roy Chan, Senior Associate Luanne Lu, and Legal Assistant David Zhang in Shanghai, and Partner Anna Otkina, Legal Director Philip Lamzin, and Senior Associate Dmitry Perekrestov in Moscow. In addition, the team coordinated with legal counsel in Ireland, Bermuda, and New York.

Domas Girtavicius, General Manager, AviaAM said: "We are pleased to see the Aeroflot - Russian Airlines' eight new Airbus aircraft leasing project completed. The deal is a strategic milestone for AviaAM Financial Leasing China, as a successful One Belt One Road policy example supported by China Development Bank. Many thanks to the DLA Piper team led by Richard Skipper for the legal support on this complex transaction."

Richard Skipper said: "Our international cross-border team been very privileged to not only assist in the inaugural financing, acquisition and leasing transactions for AviaAM but also to be part of the first investment by China Development Bank, Henan branch, into the Russian aviation market. This marks a great contribution to the One Belt One Road infrastructure initiative and a growth of regional economic cooperation within the Henan province."

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Founded in 1993, Egorov Puginsky Afanasiev & Partners is the leading full-service law firm in the CIS with offices in Russia, Ukraine and Belarus and associated offices in the UK, the USA and Cyprus.

We advise its clients in many areas of law, including: dispute resolution in Russia and abroad, corporate law, M&A, antitrust issues, project finance and PPP, restructurings and insolvencies, energy and natural resources, property management and privatization, environment, technical regulation and industrial safety, banking and finance, intellectual property, criminal law, real estate and construction, taxation, family and labour disputes, marine and transport law, and international trade and customs.

We combine high academic qualifications, internationally acknowledged moral and ethical values, senior partners' professional experience and practical abilities with the vigour and knowledge of younger attorneys that enables thus providing clients with reliable, first-class service according to both Russian and western standards through a flexible structure.

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