Maples Advises Avolon on Record US$2 Billion eVTOL Aircraft Order
Maples and Calder, the Maples Group’s law firm, is pleased to have advised international aircraft leasing company, Avolon, on its ground-breaking order of zero emissions electric Vertical Take-Off and Landing (“eVTOL”) aircraft from Vertical Aerospace Ltd. (“Vertical Aerospace”).
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The firm advised Avolon on the establishment of its newly-incorporated affiliate, Avolon-e, formed to focus on investments in the eVTOL sector. Avolon-e will, subject to certain closing conditions, order up to 500 VA-X4 eVTOL aircraft, valued at up to US$2 billion, from Vertical Aerospace.
The order will introduce the ultra-short-haul aircraft category to commercial aviation. Avolon described the deal as a “game-changing development that will revolutionise air travel with zero-emissions aircraft”.
Commenting on the transaction, Jonathon Meloy, Partner and co-head of the Cayman Islands Asset Finance practice said, “The firm’s aviation team is particularly proud to have advised our long-standing client Avolon on such an important transaction for the aviation industry. The eVTOL sector will undoubtedly help to shape the future of aviation and this transaction reflects both Avolon’s commitment to driving innovation in global aviation and its positon as an industry pioneer.”
The firm’s legal team was led by Jonathon Meloy and by Partner, Anthony Philp with assistance from Associate, Ed Rhind.
Clifford Chance acted as legal counsel to Avolon and Latham & Watkins acted as legal counsel to Vertical Aerospace.