Key takeaways Singapore Airlines Ltd v CSDS Aircraft Sales & Leasing Inc reminds us of a number of important considerations that parties should keep in mind in the context of aircraft trading, and commercial dealings more generally: Time is of the essence: “[g]iven the history of delay, prevarication and procrastination”[1] on CSDS’ part, the court … Read more

Following expiry of the Brexit transition period, a new UK Emissions Trading System (“UK ETS“) came into force on 1 January 2021 – replacing the UK’s participation in the existing EU Emissions Trading System (“EU ETS“). As one might expect, the UK ETS is almost identical to the EU ETS in many respects. However, despite … Read more

On 12 March 2021, Steer published its final report entitled “Sustainable finance taxonomy for the aviation sector”. In this briefing, we consider the findings of the Steer Report and in particular its proposals for developing the technical screening criteria for aviation-related activities to be included in the EU Taxonomy Regulation. The extent to which these … Read more

In our last post, we looked at how blockchain could be deployed by the aviation sector. We mentioned that when combined with a smart contract, routine events under aviation financing documentation could be automated. Today, we explore this potential more deeply to see how smart legal contracts (SLCs) can transform legal contracts into powerful 21st … Read more

In Helice Leasing S.A.S v PT Garuda Indonesia (Persero) TBK [2021] EWHC 99 (Comm), the English High Court interpreted seemingly conflicting dispute resolution provisions in an aircraft operating lease (the “Lease”). The Lease included an arbitration clause providing for “any dispute” to be resolved by the London Court of International Arbitration (“LCIA”) and gave the lessor an … Read more

The new trade and cooperation agreement between the EU and UK (the “Agreement”) contains a chapter governing the EU/UK aviation relationship, reflecting the EU’s intention to comprehensively address that relationship within the scope of the envisaged partnership between the EU and UK. A brief overview of the key provisions follows below. The Agreement also establishes … Read more

The widespread disruption caused by the COVID-19 pandemic has led to renewed interest in potential bases for avoiding contractual obligations. However, arguing in English law that an aircraft lease has been frustrated by the consequences of pandemic, may be unlikely to succeed. Read more

Welcome to “Aviation Finance notes”, Herbert Smith Freehills’ aviation finance know-how and market intelligence blog. We are delighted to be launching this blog where you will find regular updates on the latest developments in international aviation finance. Here, we will be posting a series of short articles, videos and podcasts engaging with current issues, trends … Read more