AVERUS has advised on an aircraft portfolio financing transaction involving the acquisition of one Airbus A320-200 aircraft and three CFM International Inc. engines.

Our Irish client, NIDA Leasing 1 DAC, entered into a loan agreement for a secured debt facility to finance the acquisition of the aircraft and engines. The aircraft and engines were subsequently leased to Heston Airlines, UAB, a Lithuanian airline.

This transaction marks an important milestone for the Lithuanian aviation market, where aviation financing transactions remain relatively limited, and aviation companies continue to rely predominantly on specialised international financiers with sector expertise.

“This transaction highlights the growing maturity of Lithuania’s aviation sector. As the market evolves, we expect to see more international and Lithuanian financial institutions participating in aviation finance transactions,” says Laura Čereškaitė-Kinčiuvienė, Managing Partner at AVERUS, who leads the firm’s aviation practice.

The transaction included asset purchase agreements, a collateral package consisting of New York- and Lithuanian-law mortgages on the assets, lease agreements, and related financing documentation.

Working closely with the lender’s legal counsel, AVERUS coordinated legal workstreams across multiple jurisdictions, including New York, the United Kingdom, Ireland, Cyprus and Lithuania, as well as registrations under the Cape Town Convention. More than 100 conditions precedent had to be satisfied before funding.

This transaction further reinforces AVERUS’s position as a leading aviation law firm in Lithuania and the Baltic region. AVERUS is recognised by The Legal 500 as a top-tier firm for its expertise in transport, shipping and aviation.