Goltsblat BLP advises on the first delivery of Sukhoi Superjets to European airline
Goltsblat BLP, the Russian Practice of Berwin Leighton Paisner (BLP), jointly with BLP, advised Irish regional airline CityJet on negotiating a framework agreement for delivery of 15 firm and 16 optional Aircraft, leasing documentation and engine and airframe support services agreements. The contract value of the deal is more than $1 bn, including options and aftersales services.
This is an important milestone for CityJet in expanding its fleet and a ground-breaking transaction for Sukhoi, as CityJet becomes the first Western European Airline to take delivery of a SuperJet. The new generation jet will fulfil CityJet’s requirements for operating from airports in Europe, including London’s City Airport, and offer significant advantages in fuel efficiency, emission ratings and noise reduction.
The first Sukhoi Superjet aircraft were delivered on 3 June 2016 in Venice, Italy, at the headquarters of SuperJet International. The nature of the transaction required many of the documents to be drafted from scratch, as there have been no precedent transactions for this type of aircraft.
The airline expects to receive three SSJ100s this year and the rest from 2017 onwards. Superjet International configured the CityJet aircraft in a 98-seat cabin layout with the interior designed by Italy’s Pininfarina.
The Goltsblat BLP team in Moscow consisted of Oleg Khokhlov, Partner, and Dmitry Ionov, Associate, both of Banking and Finance. The BLP team was made up of Tom Budgett, Consultant, and Rebecca Quayle, Consultant, both of Asset Finance, who led the transaction, assisted by Asset Finance’s Marina Litvak, Senior Associate, and Deborah Boddy, Associate, and plus members of BLP’s Preferred Network in Switzerland and Italy.
Andrey Goltsblat, Managing Partner of Goltsblat BLP: “We are very proud to advise such a reputable operator as CityJet. This is strategic deal for both CityJet and Sukhoi SuperJet and our international team was pleased to be part of it.”
Oleg Khokhlov, Partner, Banking and Finance, Goltsblat BLP: “This deal highlights the achievements of Sukhoi SuperJet in the international arena and we hope that other international airlines and leasing companies will follow. We were very pleased to work for CityJet and to demonstrate our international capabilities.”
Founded in 1993, CityJet operates a network of routes primarily from London City Airport in addition to wet-lease services on behalf of European airline customers and a substantial charter business. It employs 670 staff at bases in Finland, France, Ireland, Sweden and the UK, and operates a fleet of 18 Avro RJ85s and eight Bombardier CRJ900s.