Watson Farley & Williams (“WFW”) is pleased to announce that Engine Lease Finance Corporation’s (“ELFC”) purchase and leaseback to Pratt & Whitney of 25 Geared Turbo Fan engines on which the firm advised ELFC has won the Global Engine Deal of the Year Award at Airline Economics’ Aviation 100 Global Leaders Awards 2021.
Airline Economics is one of the leading publications for the aviation sector. Their Aviation 100 Awards celebrate the best transactions, companies and individuals in the aviation finance and leasing sector over the last year.
As part of this award-winning transaction, the engines will enjoy access to Pratt & Whitney’s EngineWise long-term maintenance agreement and will benefit from Pratt & Whitney’s global maintenance, repair and overhaul programme.
The multidisciplinary WFW team that advised ELFC on this deal was led by Global Aviation Sector Co-Head Jim Bell working with Associate Natasha Seel in London and Assets and Structured Finance Partner Susanne Burstein and Counsel Celinda Metro in New York. London Partner Mark Tooke handled corporate aspects of the deal whilst tax advice was provided by New York Partner Daniel Pilarski.
Jim commented: “We are delighted that this deal has been recognised by Airline Economics as one of its global deals of the year. Our team provided vital expertise that contributed to the success of the transaction and highlights WFW’s position as the ‘go-to’ firm for multi-disciplinary and cross-border legal advice in the aviation sector. Congratulations to ELFC on the deal!”.