Norton Rose advises EasyJet on 15-aircraft deal

London
Source: Flightglobal.com
This story is sourced from Flightglobal.com

Norton Rose has advised EasyJet on a deal which will see the UK low-cost carrier grow its fleet to 220 aircraft by September 2013.

Last week, easyjet placed firm orders for 15 A320 aircraft, convert 20 A319 deliveries into A320 aircraft and secured options over a further 33 A320 aircraft.

The legal practice company advised the carrier on the necessary amendments to its existing purchase agreement with Airbus, adding the 15 new aircraft to the existing easyJet order, securing the new options and exercising conversion rights in respect of the other aircraft. Norton Rose also advised the airline on the corporate issues surrounding the deal.

Owen Mulholland, London-based partner at Norton Rose LLP, comments: "We've worked with easyJet for many years, including advising them on their IPO in 2000, and it is particularly pleasing to have assisted the airline in a deal which evidences easyJet's continued growth and the ongoing success of its business. Flexibility with respect to fleet management is a key concern for any airline doing business in the current market and the new orders, options and conversion rights should help easyJet optimise the management of aircraft within its fleet going forward.

"From our point of view, we were able to draw on both our asset finance and corporate capabilities for this work. Successfully joining up that financial and corporate advice played a big part in getting this deal done, as did the commitment of the team over the festive period."

The Norton Rose LLP team was led by Mulholland. Corporate advice was given by partner Chris Randall, assisted by Lily Kostana.