Conyers advises on first A330-200 aircraft leasing to South African Airways

Conyers advised Aircastle Limited on its operating lease of the first Airbus A330-200 aircraft delivered to South African Airways on February 7, 2011 to support South African Airways’ fleet modernization program.

The aircraft is the first of six new Airbus Model A330-200 aircraft scheduled for delivery this year by Aircastle Limited, a global company that acquires, leases and sells high-utility commercial jet aircraft to airlines throughout the world.

Conyers lawyers Nicolas Richard and Sameer Tegally advised on Mauritius law aspects of the transaction, while Jason Piney provided Bermuda law advice. Conyers acted alongside Freshfields Bruckhaus Deringer LLP while Allen & Overy LLP and Milbank, Tweed, Hadley & McCloy LLP advised Compagnie Francaise d’Assurance pour le Commerce Exterieur (COFACE) and Sumitomo Mitsui Banking Corporation respectively.

The debt financing was provided by Sumitomo Mitsui Banking Corporation and supported by a guarantee from COFACE, the French export credit agency.