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Aircraft & Engine Finance

Aircraft & Engine Finance
Aircraft & Engine Finance

Blakes lawyers are experienced with commercial aircraft and engine acquisitions/dispositions, operating leases, cross-border leveraged and finance leases, export-credit financings and aviation loans and mortgages. We frequently advise on, and negotiate, conditional sales, sale/leasebacks, manufacturer-supported sales and financings, pre-delivery payment financings, public debt and equity, and commercial paper financings.

We also advise and negotiate with regards to securitizations, aircraft lease novations, aircraft warehouse financing arrangements, and aircraft portfolio purchases and sales. Several innovative financing and security structures that we have developed are now current market practice in Canada.

Our clients include buyers, sellers, operators, financiers, managers and charterers of business and general aviation aircraft.

Most of our aircraft financing clients are large multinational corporations based outside of Canada, including many of the world’s largest manufacturers, financiers and lessors of airframes and aircraft engines. Blakes team members are heavily involved in the Aviation Working Group (AWG), a leading industry association comprised of most major aviation manufacturers, financial institutions and leasing companies.

Recent Experience
  • The underwriters on all five of Air Canada's Enhanced Equipment Trust Certificates transactions, raising more than US$3.3-billion for Air Canada.

  • The Boeing Company in Canada, including the successful sale and financing arrangements for up to 100 new B737-MAX aircraft to Air Canada.

  • GE Capital Aviation Services on all Canadian aircraft and engine leasing, financing and sales matters in Canada.

  • Aergo Capital in connection with the pre-delivery payment financing and sale-leaseback of 3xB737-8 Aircraft to Lynx Air.

  • Canadian Imperial Bank of Commerce on a multi-lender credit facility with Top Aces Inc.

  • Avolon on a number of projects relating to their Canadian fleet, including leases, purchase and sale, sale-leaseback, asset-back securitizations and refinancings.

  • PNC Aviation Finance on a significant portion of its Canadian aircraft financing matters, on more than 40 transactions involving over 15 aircraft types.

  • Export-Import Bank of the United States and TD Bank in the first ever issue of ECA-supported bonds by a Canadian airline (Air Canada).

  • Major aircraft financiers in most aircraft financings to Canadian airlines over the past several years, including Air Canada, WestJet, Air Transat, Sunwing, Jazz, WestJet Encore, Porter, Sky Regional, Air Georgian, Enerjet, CargoJet, Canadian North, Air North, Air Inuit and Flair.