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.
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.
We advised BNP Paribas with respect to the extension of a first preferred aircraft mortgage.
Bernitsas Law advised the Hellenic Republic on the sale of commercial aircraft.
We advised the acquiror of a lease portfolio of aircraft engines on the transfer of leases.
We acted for leading international banking institutions on the sale of aircraft and the discharge of existing mortgages and registration of new ones.
We advised leasing corporations on aircraft leases to airlines.
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.
We advised the lessee of a private aircraft in its claims against a US technical services provider.