Milbank’s Aviation Practice Recognized for Innovation, Winning Eleven Deal of the Year Awards by ISHKA

Milbank LLP’s Transportation and Space Group was recognized for eleven awards by ISHKA’s Deal of the Year 2024 Awards. The winners will be honored at ISHKA’s upcoming conferences throughout the year in Dublin, Singapore and New York. Milbank’s global aviation finance practice was noted for its work on standout deals which the team closed during 2024.

The award-winning deals that Milbank advised on include:

• Most Innovative Deal 2024: JetBlue’s $662 million secured A/B term loan facility.
  Milbank was legal counsel to the lenders, led by BNP Paribas.
• Best Capital Markets Deal 2024: JetBlue's inaugural $2.765 billion loyalty financing.
  Milbank was legal counsel to the lenders.
• Best European M&A 2024: Avolon's $5 billion acquisition of Castlelake Aviation Limited.
  Milbank was legal counsel to Castlelake.
• Best Lessor Deal 2024: Carlyle Aviation Partners’ $428.1 million AASET 2024-1.
  Milbank was legal counsel to Carlyle.
• Best Alt Lenders Deal 2024: PK AirFinance’s PKAIR 2024-1 ABS.
  Milbank was legal counsel to PK AirFinance.
• Best Supported Financing Deal 2024: Azorra’s Brazilian Development Bank (BNDES) and ITASCA Embraer financing.
  Milbank was legal counsel to ITASCA.
• Best Regional Jet Deal 2024: Chorus Aviation’s sale to HPS.
  Milbank was legal counsel to Chorus.
• Best Used Aircraft Deal 2024: United Airlines’ ~$1.35 billion EETC, UAL 2024-1.
  Milbank served as underwriter’s counsel.
• Best Restructuring Deal 2024: Scandinavian Airlines’ chapter 11 exit financing.
  Milbank served as special aviation counsel to Castlelake.
• Best MEA Deal 2024: Altavair / Qatar Airways term loan.
  Milbank was legal counsel to Altavair.
• Sustainable Financing Pioneer Award: IAG’s $3 billion sustainability-linked revolving credit facility.
  Milbank was legal counsel to the lenders.

Alexandra Johnson, Milbank’s Transportation and Space Group Practice Group Leader, noted, “our entire global aviation team of partners, special counsel and associates are honored to have had the opportunity to work alongside each of our clients throughout the year and over the last many years, including on structuring the most unique and innovative deals within the aviation industry, and we look forward to continuing working with our clients, delivering best-in-class client service in this evolving market.”

“We’re so grateful to be recognized by ISHKA for these deals, which are a testament to the innovation that we strive for within our practice,” said Drew Fine, Chair of Milbank’s Transportation and Space Group and Finance practice. “We are proud to continue to push the boundaries on groundbreaking transactions for our clients.”

Milbank was also recently named “Americas Law Firm of the Year” 2024 at Airline Economics’ Aviation 100 Americas Awards, winning six Deal of the Year awards. Consistently recognized as a leading law firm in the global aviation sector, the team advises clients on a broad range of aviation transactions – including acquisition and warehouse financings, secured portfolio financings, private placements including EETCs, ABS, structured financings, loyalty program financings, AFIC financings and ECA financings, IPOs and aviation mergers and acquisitions including joint ventures and aircraft portfolio acquisitions and disposals.