SpiceJet advised by Clyde & Co

Clyde & Co’s global aviation finance team has advised Indian low cost carrier and fourth-biggest airline by market share, SpiceJet, on the purchase of 42 Boeing 737 MAX jets. Valued at USD 4.4 billion manufacturer list price, the order is the first purchase of Boeing 737 MAX jets in the Indian Subcontinent.

Owned by Sun Group, shares in SpiceJet rocketed by seven percent after the deal was announced with Boeing at a recent air show in the southern city of Hyderabad. Chief Financial Officer of Sun Group told reporters that the order will “modernise the fleet and improve customer experience.”

The team advising on the order was led by aviation finance partners Philip Perrotta, in London, and Sidanth Rajagopal in Dubai. Recently, the global aviation finance team has also advised VietJetAir and Nok Air on new aircraft orders totalling around USD 11 billion, following the 2014 Singapore Airshow. With dedicated aviation finance lawyers based in London, Paris, Dubai and Hong Kong, the firm’s aviation finance team acts for airlines, lessors, financial institutions and investors on hundreds of commercial aircraft finance, leasing and purchase/sale transactions.