Clifford Chance advises HSBC on the financing for TATA SIA Airlines Limited's first Airbus A320neo aircraft.
The financing of the aircraft allows TATA SIA Airlines Limited, known by the brand name Vistara, to further grow its modern fleet. Vistara is a joint venture between TATA & Sons and Singapore Airlines Limited.
The project involved a cross-border team of asset financing and banking and finance specialists led by 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).
Speaking on the transaction Fergus said, “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.”