One of the Country’s Finest Aviation Practices

Debevoise has been at the forefront of the aviation sector for more than 60 years, making it, in The Legal 500’s view, “unquestionably second to none” in representing airlines.

The practice’s clients include two of the world’s largest airlines, and it has been a trusted advisor to each in some of the largest and most complex transactions of their kind, including more than 22 EETC offerings covering well over 470 aircraft and raising more than $14.1 billion. Debevoise has for many years been at the forefront of developing innovative structures in aircraft financings, and has assisted clients in accomplishing critically important aircraft fleet transactions.

In addition, the Aviation practice has worked on a broad array of transactions involving aircraft leasing companies, including outright sales, portfolio sales, joint ventures and financing transactions, as well as aviation-sector transactions funded by private equity, hedge funds, pension plans and sovereign wealth funds. These include market-shaping deals, such as the firm’s recent representation of AIG in its $7.6 billion sale of International Lease Finance Corporation (ILFC) to AerCap Holdings N.V.

Acknowledged by Chambers as providing an exceptionally high level of client service, the group’s multidisciplinary and international team is known for its ability to tackle challenging transactions in the face of demanding time constraints. The Aviation practice is able to draw upon resources and skills of all relevant practices, including the tax and litigation practices, and of the firm as a whole, taking a truly collaborative approach to client matters.

It should therefore come as little surprise that The Legal 500 US calls the Aviation practice “one of the country’s finest,” and that Chambers USA comments on the team’s superior client service: “[T]hey take the time to discuss and explore difficult topics, seek creative solutions when roadblocks appear and never flinch at demanding time constraints.”

Debevoise is one of the few firms that has experience handling the full range of aviation transactional matters – including aircraft and non-aircraft financings, capital markets transactions, fleet purchases, M&A, in- and out-of-court restructurings and airport infrastructure development and financing.The practice’s clients include two of the world’s largest airlines, and it has been a trusted advisor to each in some of the largest and most complex transactions of their kind, including more than 22 EETC offerings covering well over 470 aircraft and raising more than $14.1 billion. Debevoise has for many years been at the forefront of developing innovative structures in aircraft financings, and has assisted clients in accomplishing critically important aircraft fleet transactions.In addition, the Aviation practice has worked on a broad array of transactions involving aircraft leasing companies, including outright sales, portfolio sales, joint ventures and financing transactions, as well as aviation-sector transactions funded by private equity, hedge funds, pension plans and sovereign wealth funds. These include market-shaping deals, such as the firm’s recent representation of AIG in its $7.6 billion sale of International Lease Finance Corporation (ILFC) to AerCap Holdings N.V.Acknowledged by Chambers as providing an exceptionally high level of client service, the group’s multidisciplinary and international team is known for its ability to tackle challenging transactions in the face of demanding time constraints. The Aviation practice is able to draw upon resources and skills of all relevant practices, including the tax and litigation practices, and of the firm as a whole, taking a truly collaborative approach to client matters.It should therefore come as little surprise that The Legal 500 US calls the Aviation practice “one of the country’s finest,” and that Chambers USA comments on the team’s superior client service: “[T]hey take the time to discuss and explore difficult topics, seek creative solutions when roadblocks appear and never flinch at demanding time constraints.” For more than 60 years, Debevoise has been at the forefront of the global aviation industry, representing airlines and other industry participants in the full range of aviation-related matters, spanning a broad array of disciplines.Finance & Capital Markets

Aircraft, engine and spare parts financing transactions, including operating, leveraged, cross-border and multi-tiered leases, mortgage financings, manufacturer financings, pre-delivery payment financings and export credit agency financings.

Representation of airline issuers in more than 22 EETC offerings, in the aggregate financing or refinancing more than 470 new and vintage aircraft and raising more than $14.1 billion of proceeds. These EETC financings run the gamut of structural variations, including mortgage and leveraged lease debt, fixed and floating rate, prefunded and wrapped EETCs.

Airline equity, convertible notes and other secured and unsecured debt securities and syndicated lending transactions, including those involving non-aircraft collateral such as route authorities, slots and gate leaseholds.

Russian and CIS aviation matters, including many of the most important Russian aircraft acquisition, manufacturing and financing projects.

Restructuring & Workouts

Airline fleet restructurings and refinancings (including the Chapter 11 and out-of-court restructurings of American Airlines and Delta Air Lines).

Creditor representation in airline restructurings.

Mergers & Acquisitions

Formation of joint ventures, buying and selling of aviation industry businesses and other M&A activities on behalf of manufacturers, leasing companies and airlines.

Investments in all segments of the global aviation industry by private equity firms, pension funds and other financial sponsors.

Representation of airlines, lessors and other financing parties, on acquisitions and dispositions of aircraft and related assets, including in connection with airline M&A transactions.

Representation of aircraft, engine and equipment manufacturers in the negotiation of various commercial agreements.

Fleet Transactions

Aircraft purchase agreements and related agreements on behalf of airlines, leasing companies and manufacturers, including the negotiation of delay provisions, liquidated damages and other remedies; fleet guarantees, warranties and other customer support; and manufacturer financing, including American Airlines’ 2013 purchase agreements entered into concurrently with Embraer and Bombardier, to purchase 90 regional jets with options to purchase up to 130 more, and its backstop financing arrangements with respect to the 90 firm deliveries.

Business Jets

Purchases and financings of new and used business jets of all sizes on behalf of purchasers, including European, North American and South American corporations and investment funds.

Commercial arrangements among business jet owners, operators and maintenance providers.

Airport Infrastructure Development & Financing

Representation of project companies, bidding consortia and airlines in airport terminal development and expansion projects and airport privatizations.

Negotiation and documentation of long-term lease and concession arrangements for the use and operation of airport facilities.

Structuring financing solutions for airport development projects, including tax-exempt bonds.

Litigation

Airline litigation matters, including litigation arising out of the September 11, 2001 terrorist attacks on the World Trade Center and litigation in connection with airline bankruptcies.