Our practice is involved in all types of domestic and cross-border aircraft acquisition and finance transactions.  We frequently act for foreign and domestic financial institutions providing financing to domestic air operators for the acquisition of new and used aircraft and spare engines through a combination of export credits, commercial syndicated loans, operating leases, financing leases, and tax sparing leases.  We also advise in the sale and purchase of aircraft, spare engines, and aircraft simulators between Korean air operators and foreign counterparties.

Typical transactions include:

• US dollar cross-border financing leases for new and used commercial aircraft and spare aircraft engines using various special purpose vehicles;
• US dollar cross-border operating leases for new and used commercial aircraft and spare aircraft engines according to double tax treaties;
• Korean Won denominated loans for the purchase of new and used aircraft secured by aircraft mortgages;
• Purchase and sale of new and used commercial aircraft;
• Sale and leaseback of commercial aircraft and spare aircraft engines; and
• Other aircraft-related transactions, such as leases of aircraft simulators.

In addition, we work closely with the Korean aircraft authorities in matters relating to the operation of the Korean aircraft registry.

Our clients include aircraft manufacturers, domestic and international airlines, export credit agencies, banks, and leasing companies.  Our practice has been involved in transactions with every Korean airline, including the recently formed low-cost carriers.

• Represented US Ex-Im Bank, guaranteed lenders, and commercial lenders in Ex-Im Bank guaranteed USD loan for acquisition and finance lease of two Boeing 747-8F aircraft.
• Represented US Ex-Im Bank, guaranteed lenders, and commercial lenders in Ex-Im Bank guaranteed KRW loan for acquisition and finance lease of two Boeing 777-200ER aircraft.
• Represented US Ex-Im Bank, guaranteed lenders, and commercial lenders in Ex-Im Bank guaranteed USD loan with capital markets option for acquisition and finance lease of one Boeing 777-F aircraft.
• Represented European credit agencies and commercial lenders in ECA supported USD loan for acquisition and finance lease of Airbus A321-200 aircraft.
• Represented Export Development Canada in guaranteed USD loan for acquisition and finance lease of one Global Express XRS BD-700-1A10.
• Represented Korean operator in the purchase agreement for five Bombardier Dash 400 aircraft.
• Represented lenders in sale and leaseback of three Airbus A330-600R aircraft.
• Represented Korean operator in contract for the purchase of five Boeing 737-800.
• Represented lenders in securitization of one Airbus A321-100.
• Represented aircraft manufacturer in sale of a new business jet to a company group.
• Represented seller in sale of used business jet to a Korean corporate user.
• Represented lenders in KRW commercial loan for acquisition of a used aircraft.
• Represented lessor in the early termination of lease and return of two Fokker 100 (F28 Mk 0100) aircraft from Kostar Airlines Co. Ltd and Yeongnam Air Co. Ltd.
• Represented purchaser in the acquisition from KAL of one used Eurocopter Super Puma AS332L1.