A Matheson team led by Rory McPhillips, Aviation partner, David Fitzgibbon, Corporate M&A partner, Daniel Peart, Finance and Capital Markets partner, Kevin Smith, Tax partner, Brendan Colgan, Litigation partner, John Coary, Corporate M&A senior associate and Darren Quinn, Corporate M&A solicitor, working alongside teams from Paul Weiss and Vedder Price, is delighted to have recently advised Azorra Aviation, a commercial aircraft leasing platform, on its acquisition and recapitalisation of certain aircraft owning silos of Nordic Aviation Capital pursuant to a prearranged US Chapter 11 process.
The acquisition will add an additional 37 aircraft, leased to 13 different airlines, to Azorra Aviation's pre-existing leasing platform, consisting of 60 aircraft, and will mark a strategically important expansion and diversification of Azorra Aviation's leasing platform.
Azorra Aviation in a statement has said:
"We are thrilled to add these aircraft to Azorra's growing portfolio, while expanding and diversifying our customer base." "These aircraft are ideally suited for today's market dynamics and are leased to well-known airlines around the world."
Rory McPhillips, partner in the firm's aviation finance team commented:
"We are delighted to have had the opportunity, working alongside our colleagues in Paul Weiss and Vedder Price, to advise Azorra Aviation in relation to this acquisition. This transaction marks an exciting next chapter in Azorra Aviation's growth story, as expands its leasing platform and diversifies customer base. We trust that this transaction will prove to be a strategically important one for Azorra Aviation as it continues to expand."
David Fitzgibbon, partner in the firm's Corporate M&A team commented:
"It has been a pleasure working with our colleagues in Paul Weiss and Vedder Price to deliver a successful outcome to this transaction for Azorra Aviation. The transaction itself, a complex cross-border transaction, is emblematic of the type of consolidation transactions we expect to see in this sector over the coming months. Matheson's market leading M&A team, which has advised on more cross-border transactions and transatlantic deals than any other Irish law firm over the past 5 years, makes us uniquely positioned to partner with our clients to successfully deliver these types of transactions, something which we were delighted to do for the Azorra Aviation team."