Deals
Maples Advises American Airlines on Record US$10 Billion Financing Plan
30 Mar 2021
Notably, the sizeable bond and loan offering, backed by the airline's frequent-flyer programme, is currently the largest debt transaction by an airline to date. It trumps Delta Airline's recent US$9 billion bond and loan sale, a transaction that the firm also successfully advised on.
Partner Sherice Arman, noted "We are delighted to once again leverage the Maples Group's experienced and deep bench of banking, finance, intellectual property, data protection and trusts specialists to support and advise American Airlines on this important transaction. Given the challenges that COVID-19 has presented to the aviation industry, our global finance team is busy advising clients on innovative financing arrangements to support the future of the industry."
A multi-disciplinary team based in the Group's Cayman Islands office advised American Airlines and was led by Partner and Cayman Islands Co-Head of Asset Finance, Sherice Arman. The team comprised Partners Abraham Thoppil, Tim Dawson, Finn O'Hegarty and Shari Howell, Of Counsel Nick Herrod and Associate Edward Rhind.
Latham & Watkins provided US counsel to American Airlines while Milbank advised Goldman Sachs as to US law matters.
In addition to advising Delta Airlines on their recent financing plan, the Maples Group also advised United Airlines on its US$6.8 billion financing plan that was collateralised by their loyalty programme.
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In addition, we specialise in the registration of aircraft and security interests over private aircraft and corporate jets in the Cayman Islands and Luxembourg, as well as the registration of vessels in the BVI, the Cayman Islands and Luxembourg.
Aviation
Offering legal advice to a multitude of aircraft lessors, financiers, funds, investors, owners and operators, we act on export credit agency-supported financings for all of the major aircraft manufacturers as well as commercial bank and lessor supported debt deals. We also regularly advise on the registration of aircraft in the Cayman Islands and Ireland and local registration of security interests