Leading Associates

Firms To Watch: Asset finance

Flynn O'Driscoll has established capabilities in aviation finance; the firm's managing partner, James Duggan, is highly regarded for his aviation sector expertise. The group is well known for acting for airlines, and is equally adept at acting for lessors in mandates. Regulatory matters are another key driver of work for the practice. Claire McDermott is well versed in employment law, and provides advice on aircraft leasing and financing.

Asset finance in Ireland

A&L Goodbody LLP

A&L Goodbody LLP's team has an established presence in the aviation finance sector. Under the leadership of Marie O’Brien, the aviation and transport finance group acts as counsel to a client roster of financial institutions, aircraft lessors and private investors, and the practice continues to handle instructions from an increasing number of Chinese clients, especially Chinese lessors. Seamus Ó’Cróinín is chair of the firm, and is a respected practitioner in the sector, handling transactional matters in the arena to advise clients on a series of transactions. Maria McElhinney returned to the firm's Dublin headquarters from New York in June 2023. Keith Mulhern is singled out for his contributions. Catherine Duffy has now retired from practice.

Responsables de la pratique:

Marie O’Brien


Autres avocats clés:

Seamus Ó’Cróinín; Maria McElhinney; Keith Mulhern


Les références

‘A&L Goodbody has the top Irish law asset finance practice.’

‘Marie O’Brien and Seamus Ó’Cróinín are both superb. They are the best at problem solving and dealing with complex Irish law issues.’

‘The asset finance team at A&L Goodbody has had a fantastic reputation for many years. Their depth and experience is bar none. The are involved in many of the novel transactions in the aviation space (financing, corporate M&A, regulatory). They are leaders in their field.’

Principaux clients

AerGen


Aergo Capital


Aero Capital Solutions, Inc


Air Lease Corporation


Airbus


Aircastle


Apollo Aviation LP / Merx Aviation Finance/Perseus Aviation Finance


Asahi Aviation


ASL Aviation


AVIC International Leasing Company


Carlyle Aviation Management


Castlelake, L.P


China Aircraft Leasing Company


Chorus Aviation Capital


Citibank, N.A.


Clover Aircraft Leasing


Credit Agricole


Deutsche Bank


Griffin Global Asset Management


High Ridge Aviation


ICBC Financing Leasing Company


ING Capital LLC


InterGlobe Aviation


Irish Continental Group, plc


Macquarie AirFinance


Merlin Aviation


Merx Aviation Finance


Milestone Aviation Group


Minsheng Financial Leasing


Morgan Stanley


NCB Capital


PIMCO LLC


PK AirFinance


Seraph Aviation Group Ltd


Sculptor Capital Management


Sichuan Development Holding


Sky Leasing LLC


SMBC Aviation Capital Limited


Stellar Jay Ireland DAC


Stellwagen Finance


Thunderbolt III Aircraft Lease Limited


Virgo Investment Group / Zephyrus Aviation Capital


Voyager Aviation


Wings Capital Partners


Principaux dossiers


  • Acted as Irish counsel to Macquarie Airfinance Group on the acquisition and financing of a portfolio of 53 aircraft from Alafco Aviation Lease & Finance.
  • Advised investment manager PIMCO and the former executives of GECAS, PK AirFinance on the creation of High Ridge Aviation, a lending and leasing platform operating primarily in the commercial aviation industry.
  • Advised Griffin Global Asset Management Limited on an $1bn unsecured note issuance by GGAM Finance Limited.

Matheson LLP

Matheson LLP's large aviation finance and transportation group is backed by a dedicated asset finance tax team. The department has a strong track record in assisting aircraft lessors and private equity investors with establishing and expanding leasing platforms in Ireland, as well as advising banks, asset managers and financial institutions on cross-border financings involving export credit agencies (ECAs) and development finance institutions (DFIs). Other key drivers of work include handling structured finance and asset-backed securitisations (ABS) within the aviation finance arena, alongside ongoing restructuring issues arising from the Covid-19 pandemic. Rory McPhillips and Stuart Kennedy jointly head up the practice, in which Yvonne McWeeneyStephen Gardiner and Maireadh Dale are key names to note.

Responsables de la pratique:

Rory McPhillips; Stuart Kennedy


Autres avocats clés:

Yvonne McWeeney; Stephen Gardiner; Maireadh Dale


Les références

‘The Matheson team are extremely approachable and have strong knowledge of the aviation industry which makes them are great legal service provider to any client in the industry. Matheson has a large team so they have capacity to support a variety of transactions. ’

‘Stuart Kennedy is extremely personable and approachable, he is always available to assist with excellent advice and pragmatic solutions.’

‘The team has very strong expertise and a leading market position in Ireland in the area of asset finance and aviation, which when coupled with speed of response and service orientation makes them a pleasure to deal with. ’

Principaux clients

FTAI Aviation


Aergo Capital Limited


Norwegian Air Shuttle ASA


CDB Aviation


UK Export Finance (UKEF)


CCB Aviation


Aviation Capital Group


AerCap


Castlelake, L.P.


LR AirFinance


Dubai Aerospace Enterprise (DAE)


PK AirFinance


Arctic Aviation Assets DAC


Jackson Square Aviation


Tokyo Century


Fortress Investment Group LLC


Banco Nacional de Desenvolvimento Econômico e Social (BNDES)


Bank of Communications Financial Leasing Co., Ltd. (BoComm Leasing)


CMB Financial Leasing (CMB Aviation)


Azorra Aviation


Principaux dossiers


  • Represented ALAFCO in the sale of 53 current and next-generation commercial passenger aircraft and an order for 20 Boeing 737 MAX aircraft, valued at $2.2bn, to Macquarie.
  • Acted as Irish counsel for Aquila, Royal Aero and Ashland Place on establishing an Irish joint venture platform between Aquila and Royal Aero.

McCann FitzGerald LLP

McCann FitzGerald LLP has an excellent track record in the aviation finance and leasing arenas. With eight partners in its ranks, the practice is instructed in a wide spectrum of matters, ranging from the establishment of aviation platforms in Ireland to capital markets, syndicated financings, leasings, sale and leaseback transactions, corporate reorganisations and restructurings. Catherine Deane is a doyenne of the aviation finance market; finance practice head Georgina O’Riordan, Hilary Marren, Joe Fay and Colm Fanning are established practitioners in the space. Richard Gill, Laura Deignan and Ian Payne are also highly regarded names in the department.

Responsables de la pratique:

Catherine Deane; Joe Fay; Hilary Marren; Georgina O’Riordan; Richard Gill; Colm Fanning; Laura Deignan; Ian Payne


Autres avocats clés:

Kate Clancy


Les références

‘Excellent, dedicated team with vast experience and capability offering great value compared to London or NY rates.’

‘Hilary Marren for the depth of experience and calmness under the pressure of the largest transactions. Joe Fay for his technical expertise.’

‘I have worked with the team at McCann Fitzgerald for many years across many positions. McCann Fitzgerald are exceptional at what they do and I have had no problem in recommending this firm to anyone seeking to retain Irish counsel. ’

Principaux clients

Abelo Capital Aviation Management Limited


AerCap


AerDragon Aviation Partners Limited


AerSale Inc.


Aircastle Advisor LLC


Altavair


Altitude Investors DACf


Apollo Global Management


ASL Aviation


AV Air Finance


Avia Solutions Group (ASG) PLC


Bank of Tokyo Mitsubishi


BBAM Aviation Services Limited


BOC Aviation Leasing


Calliston GmbH & Co. Beteiligungs KG


Cavic Aviation Leasing (Ireland) Co. DAC


CDB Aviation Leasing


Challey Limited


CHC Group LLC


CIAF Leasing


Credit Agricole


Delaware Life Insurance Company


Deutsche Bank AG


Development Bank of Singapore Ltd


DNB Bank ASA


Doric Asset Finance GmbH & Co. KG


DVB Bank SE


Dynam Japan Holding Holdings Co., Ltd


EAVF II Aircraft Holdings Limited


EMP Aviation Ireland Limited


Fexco


FGL Aircraft Ireland (FUYO)


Fly Leasing Limited


FPG Amentum


Genesis Aircraft Services Limited


Guardian Holdings Limited


ING Bank N.V., Singapore Branch


Jackson Square Aviation Ireland Limited


JP Lease Products & Services Co., Ltd.


KKR Altitude Holdings L.P.


Magnetar Capital


MUFG Bank, Ltd


NGF Overseas Aircraft Limited


Nordic Aviation Capital


Odeon International Holding B.V.


ORIX Aviation Systems Limited


Pembroke Capital/Standard Chartered Bank


Rockton AB


SAIC Holdings Limited


SAS


SATO Aviation Capital


Security Benefits Life Insurance Company


Sierra Echo Aircraft Leasing Limited


Sirius Aviation Capital Holdings Limited


Sky Aero Management Limited


Skyworks Leasing (Ireland) Limited


SMBC Aviation Capital


SolÉir Aviation Capital


ST Aerospace Resources Pte. Ltd


Sumitomo Mitsui Banking Corporation


TATA SIA Airlines Limited (operating as Vistara)


Titan Aviation


Trustmark National Bank


UMBF Trust and Agency Services (Ireland) Limited


Viva Aerobus


Vueling Airlines, S.A.


Principaux dossiers


  • Advised AerCap on its $1bn offering of 5.750% senior unsecured notes due 2028.
  • Advised ORIX in connection with its acquisition of the entire share capital of SORA Airlease DAC, previously a joint venture company owned by ORIX and Merx Aviation Finance Assets Ireland Limited.
  • Advised Sky Leasing on the Irish law aspects of its sale of Sky Fund I Irish, Ltd. and its subsidiaries to Dubai Aerospace Capital.

William Fry LLP

William Fry LLP routinely acts for clients in some of the largest headline transactions in the market. The firm is particularly strong in advising major financial institutions on big-ticket aircraft financings. Practice head David Maughan is a prominent lawyer, with an excellent track record in handling aviation finance matters and the establishment of Irish aircraft leasing platforms for commercial aircraft. Mary Ward's workload includes transactional matters, securitisations, and debt capital markets mandates.

Responsables de la pratique:

David Maughan


Autres avocats clés:

Mary Ward


Les références

‘William Fry provided a very good level of support throughout this matter. They were constantly in contact, flagged issues ahead of time and suggested options that minimised disruption / helped progress towards closing smoothly.’

‘Mary Ward was a very responsive, hands-on and practical partner. The firm helped to ensure the deal moved smoothly on the Irish-law phase.’

‘Great team – very strong technically.’

Principaux clients

Bank of Communications Co., Ltd.


China Development Bank


Credit Agricole CIB


DVB Bank


Goldman Sachs


Goshawk Aviation Limited


Hines Ireland


HSBC


Investec Bank plc


ING Bank


KfW Bank


Natixis


Clover Aircraft Leasing Company Limited (formerly Ping An International Financial Leasing)


Societe Generale


Santander


The Korea Development Bank


Development Bank of Japan


CMB Financial Leasing Co., Ltd


Landesbank Hessen Thüringen Girozentrale


Agricultural Bank of China (Hong Kong Branch)


Bank of China (Hong Kong) Limited


Bank of Communications Co., Ltd.


ING Bank NV (a branch of ING DiBa AG)


Bayerische Landesbank


BNP Paribas, Singapore Branch


Principaux dossiers


  • Advised KfW IPEX Bank on all Irish legal and tax aspects relating to a secured financing facility for Rive Rail.
  • Advised BNP Paribas on all Irish legal and tax aspects relating to a secured financing facility for Muzinich.
  • Advised MUFG on Irish legal and tax matters relating to a secured financing facility for Dynam Aviation and its Irish subsidiaries to acquire certain aircraft.

Arthur Cox

Arthur Cox's Dublin office works closely with the Belfast, London, New York, and San Francisco offices in order to advise international airlines, lessors, investment banks and private equity investors on a wide range of asset finance matters. Ruth Lillis is a well regarded name in the practice, and is very experienced in handling work connected to the recovery of the aviation sector after the Covid-19 pandemic. Other key practitioners include tax expert Elaine Mooney, the 'very dependable' Bethan Leonard and Fintan Kerins, who has 'great potential'. In 2023 Caroline Devlin retired from the practice, and Laura Cunningham left the firm.

Autres avocats clés:

Ruth Lillis; Orla O’Connor; Fintan Kerins; Elaine Mooney; Bethan Leonard


Les références

‘Strong subject matter skills combined with commercial focus and understanding of the client’s needs. Always responsive to urgent requirements.’

‘Ruth Lillis – a very experienced, skilled and innovative lawyer.’

‘Ruth Lillis and Orla O’Connor are a delight to work with. There’s a wealth of aviation legal talent in Dublin but one of the best in terms of transaction support and value for money.’

Principaux clients

Abbey International


Abelo Aviation


Acia Aero Capital


Aer Lingus


AFIC (Aircraft Finance Insurance Consortium)


Air Europa


Amergin Asset Management


Apollo Management


Arena Aviation Capital


Atlas Air Worldwide Holdings


Aviator Capital


AVIC (Aviation Industry Corporation of China)


AviLease


Bank of Communications Financial Leasing Company


Barclays


BBAM


BNP Paribas


Braathens Regional Airways AB


Bramora


British Airways


China Construction Bank


China Merchant Bank


Credit Agricole CIB


Citibank


Compass Cargo Airlines


Credebt Exchange


Credit Suisse


Deka Bank


Deutsche Bank


Deutsche Lufthansa


Export-Import Bank of China (CEXIM)


Flexam Invest


GA Telesis


Grupo Lomex


HSBC


ICBC (Industrial and Commercial Bank of China)


iAero Thurst


Industrial and Commercial Bank of China


JP Lease


KLA Aviation Finance


Lobo Leasing


MHR


Mizuho Bank


MUFG Bank


Muzinich & Co.


NTMA (National Treasury Management Agency)


Nona Trade Corporation


Nord LB


Orix Aviation


Ping An


PK Airfinance


Rabobank


Rotor XM Leasing


Ryanair


SDH Wings


Société Générale


SMFL (Sumitomo Mitsui Finance and Leasing)


Titan Aircraft Investments


Turkish Airlines


UBS Switzerland AG


Vallair


Vance Street Capital LLC


Westpac


Wings Capital Partners


Wells Fargo Bank N.A


Worldstar


Principaux dossiers


  • Advised Apollo Global Management on the provision of a $700m debtor-in-possession facility to SAS – Scandinavian Airlines as part of the airline’s Chapter 11 restructuring.
  • Advised Ryanair on its €750m unsecured revolving credit facility with a syndicate of 13 banks.
  • Advised on the establishment of the Irish AviLease platform and the platform’s first transaction, a purchase and leaseback deal for 12 Airbus A320neos with Flynas.

Maples Group

Maples Group's Dublin-based asset finance office has an established track record in handling capital markets transactions, asset-backed securitisations, CLOs, private equity investments, and the establishment of aviation platforms. The group is well regarded for its aviation offering, and it reports a recent uptick in instructions from clients in the rail transport industry. Team lead Mary O’Neill stands out as 'a leading aviation partner in Ireland'. Alex Walsh and Eoin O’Leary are singled out for their contributions.

Responsables de la pratique:

Mary O’Neill


Autres avocats clés:

Alex Walsh; Eoin O’Leary


Les références

‘It is a real pleasure to work with the Maples Dublin team led by Mary O’Neill. The Maples lawyers have meticulous attention to detail and are extremely pleasant and practical in their approach to legal issues. ’

‘I particularly value Mary O’Neill as a provider of legal services to our team. Mary is dependable, with a meticulous attention to detail. Mary is also a real pleasure to deal with and it is always great to get the opportunity to work on a transaction together. Mary plays a key role in our transactions and we are grateful for her great support and dedication. ’

‘The team are very responsive and knowledgeable about the wider aviation industry. They represent many of the key industry players and are one of the leading offshore service providers.’

Principaux clients

Marathon Asset Management, L.P.


Sky Leasing


Avolon


Falko Aerospace


Bain Capital Credit


Griffin Global Asset Management


Acia Aero Limited


Investec


Deucalion


ST Engineering Aerospace


Altavair


ITE Management LP


Muzinich


Vistara


Principaux dossiers


  • Advised Avolon on the Irish law aspects of multiple transactions, including a $660m commercial loan for 17 aircraft.
  • Advised Griffin Global Asset Management on the initial financing, amendment and upsizing of its senior secured warehouse facility.
  • Advised Sky Leasing on its sale of Sky Fund I Irish and its subsidiaries to Dubai Aerospace Enterprise.

Mason Hayes & Curran LLP

Mason Hayes & Curran LLP is active in a wide spectrum of aviation and asset finance matters, often acting for aircraft manufacturers, lessors, aviation investors, banks and other financial institutions in the space. ECA financing is a key pillar of strength for the team, which is adept at handling securitisations, warehouse financings, sale and leaseback transactions, and structured finance work, among other areas. The department is home to David McGovern and Christine O’Donovan, the chair of the firm; both are highly regarded asset finance specialists. Head of tax Niamh Caffrey is a key name.

Responsables de la pratique:

David McGovern


Autres avocats clés:

Christine O’Donovan; Niamh Caffrey; Andrea Gleasure


Les références

‘This is a very strong team that is growing with the arrival of David McGovern. David is very experienced and knows as much as anyone in his position in the industry. ’

‘David McGovern – goes above and beyond to build and look after the relationship. Very approachable and commercially focused. ’

‘Excellent, user friendly, great turnaround times.’

Principaux clients

Airbus Financial Services and affiliates


Avia Solutions Group


Azorra Aviation


Icelease Aviation


Lobo Leasing Limited


Bpifrance (French Export Credit Agency)


BNP Paribas


Chinese Aircraft Leasing Company (CALC)


CMB Leasing


Euler Hermes (German Export Credit Agency)


Principaux dossiers


  • Acted for Lobo Leasing Limited, which have established a joint venture with EMP Structured Assets GmbH on the purchase a portfolio of six new and used helicopters from subsidiaries of the Avincis Group in Spain and Italy.
  • Advised CALC Global Leasing Limited on the sale and novation of five Airbus A320 aircraft on lease to an Indian lessee and acted as Irish transaction counsel.
  • Acted as counsel to EDC on the lease and secured financing of up to 20 Airbus A220-300 aircraft.

Walkers

Walkers has a substantial asset and aviation finance practice in its Dublin office, which is supported by the firm’s wider global presence. Under the leadership of Matt Hedigan and Killian McSharry, the team has a solid track record in advising on warehouse facilities, leasing platforms, restructurings and refinancings, to name a few areas of strength. The client roster includes investment funds, financial institutions and lessors. Of counsel Elliot Milton is a name to note.

Responsables de la pratique:

Matt Hedigan; Killian McSharry


Autres avocats clés:

Elliot Milton; Ed Butler; Róisín O’Connor


Les références

‘The team has a strong track record in asset finance with deep knowledge of the industry and types of financing.’

‘Killian McSharry – excellent all rounder. Extremely responsive, results oriented, pragmatic and commercial.’

‘Killian McSharry – very approachable and outgoing. He is very commercially aware of market norms and making sure our risks are lowered on any deal. Great lawyer.’

Principaux clients

Airborne Capital Limited


Aergo Capital


AMCK


CALC


Castlelake


Citi Group


Clover Aviation Capital


LCI


PIMCO


SMBC Aviation Capital