Global law firm K&L Gates was recognized as a Deal of the Year 2021 winner by China Business Law Journal (CBLJ) for its role in ICBC Aviation Leasing’s restructuring involving the groundbreaking launch of a wide body fleet of aircraft for its longstanding client, private Vietnamese low-cost carrier VietJet Air.

The restructuring itself involved a series of aircraft repossessions and airline reorganizations involving more than 17 airlines across 11 jurisdictions and 50 aircraft across the Asia-Pacific region. A number of those aircraft included Airbus A330-300 aircraft for delivery to VietJet Air in order to supplement its fleet growth plan.

K&L Gates lawyers have advised and supported VietJet Air on its constant growth since its operations launch and first aircraft delivery in 2011, including though the global COVID-19 pandemic. The K&L Gates team who acted for VietJet on this winning deal was led once again by aviation finance partner Philip Perrotta.

“We are delighted to support our longstanding client VietJet on yet another landmark transaction that will positively influence transportation in Asia,” remarked Perrotta. “Aside from the satisfaction of successfully guiding them through the considerable complexities involved with this deal, it is particularly fitting that VietJet’s first wide body Airbus aircraft was delivered on the 10th anniversary of their 2011 launch, in what we hope will mark the beginning of another successful chapter in the airline’s development.”

The Deals of the Year winners are selected each year by CBLJ’s seasoned editorial team, who reviews and compiles the list of stand-out deals from a vast pool. During the process, the CBLJ editorial team attaches the most importance to the overall significance, complexity, and innovative nature of the deals and cases under consideration, while also taking into account deal size and broader interests.  You can learn more about CBLJ’s Deals of the Year 2021 here.

K&L Gates’ aviation finance practice represents financial institutions, leasing companies and notable airlines around the globe in connection with aircraft finance and leasing transactions, including the structuring, documenting, and negotiating of aircraft finance transactions and cross-border transactions involving multiple jurisdictions. The award-winning multi-office team works closely with colleagues in the tax, regulatory, and litigation practices of the firm in order to advise and assist clients on the breadth of matters affecting their respective businesses in a comprehensive manner.