We advised KGAL Investment Management GmbH & Co. KG (“KGAL”), a leading independent investment and asset manager with an investment volume of €16.5bn, on the leaseback transaction in relation to three new Airbus A220-300 aircraft with Air Baltic Corporation AS, the Latvian national airline and the leading carrier in the Baltic region. The lease agreements were arranged and are managed by GOAL German Operating Aircraft Leasing GmbH & Co. KG, the leading German aircraft lessor. Furthermore, we also assisted KGAL with Latvian law matters in relation to further financing arrangements with the lender.
Our assistance included advice on Latvian law related to aircraft-related matters (e.g., aircraft registration, local security regulations concerning aircraft), as well as negotiations of Latvian law governed pledges over respective aircraft, as well as assistance in registration of these pledges with the Pledge Register of Latvia and the Civil Aviation Agency of the Republic of Latvia.
The Sorainen team was headed by partner Rūdolfs Eņģelis and consisted of senior associates Inese Heinacka and Edvīns Draba, associate Lūcija Strauta, and legal assistants Kristers Pētersons and Gabriela Mora Petroviča.