Awards & Rankings
Source: Airfinance Journal, ISHKA
Pillsbury’s Aviation Finance practice has been recognized in Airfinance Journal's Global Deals of the Year Awards and ISHKA’s Deal of the Year Awards for transactions closed in 2019. Pillsbury was recognized as closing two of the “best-in-class” airline and lessor financings deals by Airfinance Journal for the Equity Deal of the Year and Latin America Deal of the Year categories. The annual ISHKA Deal of the Year Awards recognized Pillsbury in the Best Lessor Deal category.
The two pioneering 2019 aviation finance deals for which Pillsbury was honored are:
Equity Deal of the Year (Airfinance Journal) Best Lessor Deal 2019 (ISHKA)
Titan Aviation and Bain Capital announced the formation of a $1 billion joint venture to develop a diversified freighter aircraft leasing portfolio in late 2019. The transaction represented the first all freighter joint venture and was also the largest cargo warehouse facility. Pillsbury represented Titan Aviation as borrower legal adviser. The team was led by partner Mark Lessard and included partners Melissa Jones-Prus, Harsha Reddy and Brian Blum; counsel Ivan Mitev and Eugene Yeung and associates Alex Kwon and Gloria Kim.
Latin America Deal of the Year (Airfinance Journal)
Avianca renegotiated over $4.5 billion of aircraft lease, debt and other obligations as part of its 2021 strategic plan. In this transaction, Pillsbury advised various lender groups in the out of court restructurings by Avianca for several debt facilities valued at over $500 million. The transaction was achieved in less than five months and required negotiations with more than 125 creditors and suppliers and a 100% participation in lease and debt re-profiling by all lessors and lenders. The firm’s representation was led by partner Mark Lessard and included partner Leo Crowley, counsel Jason Greenberg and associate Ryan Adelsperger.
Voted the “Aviation Law Firm of the Year,” Pillsbury’s Aviation Finance practice has earned a reputation over six decades as being among the world’s best. Powered by highly rated commercial and business aviation ﬁnance lawyers in the U.S., Europe and Asia, the aviation finance team serves as a trusted adviser to the most established names in aviation as well as emerging players around the world, including manufacturers, airlines, lessors, ﬁnancial institutions, corporations, individuals and others. Of note, Pillsbury has also consistently ranked over years as the most or second most active firm in African aviation in the annual Airfinance Journal Global Legal Survey.