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Our practice’s track record in Aviation stretches back to advising on financing transactions entered into by Olympic Airways over three decades ago. Since then, the Firm has acted in leveraged leasing, export credit finance, sale and leaseback and asset financing transactions.

The market for private operators opened in Greece in 1994, following which our Aviation department has been instructed by numerous private airlines to assist in their establishment, financing, aircraft acquisition, leasing and chartering and to advise on regulatory, licensing and ground handling issues. We have acted in all the major privatisations to have taken place in Greece in the Aviation sector, including advising the Hellenic Republic in the landmark €177.2m privatisation of the national airline, Olympic Airways.

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Lease Agreements and Mortgage Arrangements

We are advising an aviation company on the novation of lease agreements including head leases, subleases and mortgage arrangements, as well as on legal procedures for registration and enforcement.

Lease Agreement Novations

We advised an aviation company on the novation of lease agreements and related assignments of earnings securing the financing of two aircraft.

Ongoing Advice to Leading Aircraft Manufacturer

We advise a leading aircraft manufacturer on an ongoing basis in their participation in tenders for the supply of military aircraft, follow on support in relation to the provision of parts and their entry into offset contracts.

Securitisation of Aircraft Lease Portfolio

We have advised international financial institutions on the securitisation of their claims against owners of aircraft by the security assignment of aircraft leases between the aircraft owners and a Greek airline. We continue to respond to extensive jurisdictional questionnaires in the context of aircraft transactions, including leases, mortgages and securitisations.

BNP Paribas Mortgage Extension

We advised BNP Paribas with respect to the extension of a first preferred aircraft mortgage.

Contract for Manufacture of Military Cargo Aircraft

We represented a joint venture of two international manufacturers of defence supplies in their entry into and performance of a contract for the manufacture and supply of military cargo aircraft for the Hellenic Airforce, following their successful participation in a public tender.

Hellenic Republic Sale of Aircraft

Bernitsas Law advised the Hellenic Republic on the sale of commercial aircraft.

Aircraft Engine Lease Portfolio

We advised the acquiror of a lease portfolio of aircraft engines on the transfer of leases.

Mortgage Discharge and Registrations of Aircraft Portfolio

We acted for leading international banking institutions on the sale of aircraft and the discharge of existing mortgages and registration of new ones.

Aircraft Leasing

We advised leasing corporations on aircraft leases to airlines.

Acquisitions and Ownership Transfers

We represented the purchasers in the acquisition of aircraft leased to private air carriers and the registration of the ownership transfer with the Civil Aviation Authority.

Claim against Technical Services Provider

We advised the lessee of a private aircraft in its claims against a US technical services provider.

  • regulatory framework: airlines, airports, air traffic rights, public service obligations, ground handling industry (including MRO)
  • national bilateral agreements
  • establishment of new aviation companies
  • establishment of subsidiaries of international aviation companies
  • ground handling and supply contracts
  • sale, finance and lease of individual aircraft and fleet
  • operating and financial leases and related financial and security documentation including EXIM and European Export Credit Finance
  • mergers, acquisitions, disposals, privatisations and financings
  • European Union and national regulatory and legislative: transactions, employment agreements, intellectual property rights and taxation