Herbert Smith Freehills advises Airbus SE on the negotiation of an 8 billion euro ESG-linked Revolving Credit Facility agreement

29 July, 2022
International leading law firm Herbert Smith Freehills has advised Airbus SE, global leader in aeronautics, defence, space, and related services, on the negotiation of an 8 billion euro ESG-linked Revolving Credit Facility agreement. The documentation includes a margin adjustment mechanism based on ESG criteria. The banking syndicate was coordinated by UniCredit Bank, BNP Paribas, Crédit … Read more

Sustainable and green lending in the aviation industry

06 May, 2022
In this short podcast, Tim Hunter-Jones, a senior associate in our asset finance team in London, looks at some of the issues in sustainable and green finance in the aviation sector, including the importance of the EU Taxonomy in determining what is sustainable, and the role of state aid in promoting a greater focus on … Read more

English Commercial Court determines that a state-owned airline is not entitled to be served in accordance with the State Immunity Act

29 March, 2022
In AELF MSN 242, LLC (a Puerto Rico limited liability company) v De Surinaamse Luchtvaart Maatschappij N.V. D.B.A. Surinam Airways [2022] EWHC 544 (Comm), the English Commercial Court (the “Court“) considered whether the national flag carrier of Suriname (“SLM“) was entitled to be served with proceedings in accordance with s12(1) of the State Immunity Act 1978 (the … Read more

High Court of Australia dismisses Willis appeal

17 March, 2022
The High Court of Australia has unanimously dismissed the appeal of Wells Fargo Trust Company, National Association (Wells Fargo) on the construction of Article XI(2) of the Cape Town Convention’s protocol on Matters Specific to Aircraft Equipment (Protocol). This decision is of importance to the global aviation community as it is the first decision by … Read more

Global Aircraft Trading System (GATS): Enforcement by financiers

16 November, 2021
Global Aircraft Trading System (GATS) is a fully electronic system designed to facilitate certain aircraft trading and financing transactions. We have previously discussed the practical considerations for lessees, lessors and financiers in terms of transitioning to GATS. In this article, we discuss the operation of GATS in an enforcement scenario. Read more

The aviation industry resolves to be carbon neutral by 2050

07 October, 2021
The International Air Transport Association (IATA) on 4 October this year has committed to achieving net-zero carbon emissions by 2050. This is no small undertaking: it will require the co-ordination of all industry stakeholders to mitigate an estimated 1.8 gigatons of carbon at an estimated cost of 2 trillion USD. This commitment will align with … Read more