The Maples Group supported market-leading aircraft operating leasing and asset management company, Falko Regional Aircraft Limited, on its inaugural aircraft securitisation (ABS) financing transaction, Regional 2021-1. 

Maples’ cross-jurisdictional team of lawyers provided Cayman Islands and Irish legal advice on the deal.

The group's fiduciary services team also assisted with corporate and directorship services and regulatory compliance in the Cayman Islands, Delaware, Ireland and London, as well as acting as share trustee to the issuer. 

This is the first ABS transaction completed since the COVID-19 pandemic that has been exclusively secured by regional aircraft assets.

The legal team was led by Donna Ager, and included Jonathon Meloy and Anthony Philp. 

The team was assisted by finance associates, Edward Rhind (Cayman Islands) and Alex Walsh (Ireland).

Challenging

Partner Donna Ager said: "Despite a particularly challenging year for the industry, we are delighted to see that the aircraft ABS market is showing such optimism and we look forward to continuing to work with Falko in the months ahead."

Sarah Dichlian, chief general counsel at Falko Regional Aircraft Limited, said: "We have worked with the Maples Group on a number of deals, and it is particularly satisfying to have structured and documented a transaction in this challenging time for the aviation sector."

The legal team was led by Donna Ager and included Jonathon Meloy and Anthony Philp. 

The team were assisted by finance associates, Edward Rhind (Cayman Islands) and Alex Walsh (Ireland).

Fiduciary team

The group's fiduciary team comprised global head of fiduciary, Stephen O'Donnell, senior vice-presidents Jeffrey Everhart (Delaware), Sean O'Sullivan (Ireland), Sam Ellis (London) and Phillip Hinds (Cayman Islands), as well as vice-president Linval Stewart (Cayman Islands). 

Allen & Overy LLP acted as lead counsel to Falko, while Milbank LLP acted as lead counsel to the ABS investors.