Addleshaws at the controls for £850m Flybe aircraft purchase
Addleshaw Goddard has taken a lead role advising low-cost airline Flybe on its $1.3bn (£850m) order for 35 planes from aircraft manufacturer Embraer. The national law firm advised Flybe with a team based in its London office led by aviation head Rory McCarthy, assisted by finance associate Rebecca Garner. Brazilian aircraft manufacturer Embraer was advised by US law firm Katten Muchin Rosenman, which fielded a team led by Washington-based corporate partner Timothy Lynes.
August 02, 2010 at 05:39 AM
2 minute read
Addleshaw Goddard has taken a lead role advising low-cost airline Flybe on its $1.3bn (£850m) order for 35 planes from aircraft manufacturer Embraer.
The national law firm advised Flybe with a team based in its London office led by aviation head Rory McCarthy, assisted by finance associate Rebecca Garner.
Brazilian aircraft manufacturer Embraer was advised by US law firm Katten Muchin Rosenman, which fielded a team led by Washington-based corporate partner Timothy Lynes.
Flybe also appointed real estate investment company Spectrum Capital as financial advisers on the deal.
The deal is part of Flybe's plans to expand into Western Europe, with the first of the 88-seater planes scheduled to be delivered in September 2011 and the order set to be completed by March 2017.
The Devon-based airline has the option to buy a further 105 aircrafts, meaning the deal could eventually be worth up to $5bn (£3.3bn).
At the same time, the Addleshaws team also advised Chilean airline LAN on its $3.5bn (£2.3bn) acquisition of 50 short-range Airbus A320-family aircrafts.
Airbus was advised by its team of in-house lawyers.
In 2007, Addleshaws advised British Airways (BA) on Flybe's purchase of the airline's loss-making regional operation BA Connect. The deal, which saw BA acquire a 15% stake in Flybe, also handed roles to Eversheds and Norton Rose.
Both Addleshaws and Eversheds have since been retained as principal legal advisers to the Flybe Group.
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