In July 2013, SriLankan Airlines agreed a combined predelivery payment (PDP) and sale/leaseback finance with operating lessors ILFC/AerCap and Hong Kong Aviation Capital.
The deal was an innovative purchase agreement novation structure to deal with SriLankan claw-back risk, and contained an “unusual collaboration” of major operating lessors on a single account.
Additional information: K&L Gates (London) acted for the security trustee and K&L Gates (Tokyo/Singapore) acted for Century Tokyo Leasing.The initial legal team advising the airline was led by partner
Philip Perrotta, originally from Clyde & Co, who then subsequently left the firm to move to Kaye Scholar.
