Clifford Chance advises HSBC on a landmark aviation financing transaction for Air India

Global law firm Clifford Chance has advised The Hongkong and Shanghai Banking Corporation Limited (HSBC) on the financing of an Airbus A350-900 aircraft for Air India, the flag carrier of India. In addition to the aircraft being the first Airbus A350-900 to be operated by an Indian operator, this transaction represents the first time Gujarat International Finance Tec-City (GIFT City) in India has been used in aviation financing.

The deal involved a cross-border team of asset financing and aviation financing specialists led by partner Fergus Evans (Singapore) and counsel Nattawat Vilasdechanon (Singapore). They were supported by partner Emily Wicker (New York), associates Vanessa Heng (Singapore), Regine Law (Singapore) and Olga Miller (New York), trainee associates Caiying Seah (Singapore) and Haeyoung Kim (Singapore), and paralegal legal assistant Aicha Marchoud (Paris).

Partner Fergus Evans said, “We are delighted to advise on this landmark financing for HSBC. The transaction marks a key moment for the aviation sector in India and comes at a time of rapid growth in the Indian aviation market. In light of the large order books of Indian airlines, we expect to see an upsurge of aircraft financing and leasing activities in India, many of which will be utilising the benefits and incentives being offered by GIFT City.”

This transaction enhances the long-standing partnership between Clifford Chance’s aviation practice and HSBC. Clifford Chance has previously advised HSBC on the financing of Vistara’s first Airbus A320neo aircraft.