Sky Express finalizes acquisition of Airbus A320s in strategic lease novation deal

Deal News | Jan 29, 2025 | CEE Legal Matters

Sky Express finalizes acquisition of Airbus A320s in strategic lease novation deal

Kyriakides Georgopoulos (KG), a prominent law firm, has advised Aviation Capital Group (ACG) and High Ridge Aviation (HRA) on a significant transaction involving the sale and transfer of two Airbus A320-251N aircraft. The deal includes a lease novation agreement with Sky Express, a Greek airline, facilitating its expansion. ACG, a subsidiary of Tokyo Century Corporation, transferred the aircraft to High Ridge Aviation, an asset management firm. KG's legal team was led by Partner Claire Pavlou, with significant contributions from Senior Associate Amalia Pantazi and Junior Associate Electra Livani. This transaction exemplifies the strategic recalibration of aircraft assets within the aviation industry. Despite inquiries, KG did not provide additional comments on this arrangement.

Sectors

  • Aviation Leasing
  • Legal Services

Geography

  • Greece – Sky Express, the lessee airline involved in the transaction, is based in Greece, making this geography relevant to the deal.
  • Japan – Aviation Capital Group, involved in this transaction, is a subsidiary of Tokyo Century Corporation, which is based in Japan.

Industry

  • Aviation Leasing – Involves the leasing and financial management of aviation assets like aircraft, critical in the transactions between Aviation Capital Group, High Ridge Aviation, and Sky Express.
  • Legal Services – The legal advisory provided by Kyriakides Georgopoulos supported the transaction's execution, showcasing its critical role in M&A and asset management.

Financials

    Participants

    NameRoleTypeDescription
    Aviation Capital GroupTarget CompanyCompanyA subsidiary of Tokyo Century Corporation focused on aircraft leasing.
    High Ridge AviationBidding CompanyCompanyAn asset management firm engaged in the transaction for the two Airbus A320 aircraft.
    Sky ExpressLesseeCompanyA Greek airline based at Heraklion International Airport, involved in the lease novation deal.
    Kyriakides GeorgopoulosLegal AdvisorCompanyProvided legal advice and services for the transaction, involving Partner Claire Pavlou and associates.