Clifford Chance has advised HSBC on the financing for Vistara’s first owned Airbus A320neo, delivered to the SIA-Tata joint venture last weekend.
The project involved a cross-border team of asset financing and banking and finance specialists led by Clifford Chance partner Fergus Evans (Singapore) and senior associate Nattawat Vilasdechanon (Singapore). They were supported by partner Emily Wicker (New York), associate Olga Miller (New York), paralegal Megha Jayaram (Singapore) and trainee Joel Lee (Singapore).
“We were delighted to have been mandated on this financing by HSBC and would like to congratulate Vistara on this new acquisition. Notwithstanding the slow recovery of the aviation sector, this transaction shows that there is light at the end of the tunnel and liquidity is flowing back into the aviation market. We expect more of such transactions to materialise in the months ahead as the aviation industry plans for a safe return to the skies and deliveries of new aircraft from the manufacturers pick up,” Evans commented.
Vistara has another 30 A320neos on order from lessors and Airbus, as well as an unspecified number of A321neo lease commitments.
At the end of May, Vistara’s fleet included seven A320s, 30 A320neo aircraft and two A321neos, as well as seven Boeing 737-800s and two 787-9s.