Global law firm White & Case LLP has advised Italia Trasporto Aereo S.p.A. (ITA Airways) on three notes issuances for an aggregate amount of US$240 million secured notes due 2036 by its newly established Irish special purpose vehicle to finance the purchase of an Airbus A300neo aircraft and to refinance the acquisition of two additional Airbus A330neo aircraft.
The refinancing, which ensures the necessary financial support for the leasing of the A330neo aircrafts to ITA Airways, finalized during the first half of the 2024, is significant for ITA Airways as it continues to modernize its fleet and enhance its operational capabilities. The transaction, which follows a previous one in early 2024, underscores ITA Airways’ commitment to growth and excellence in the aviation industry.
New generation aircraft have lower fuel consumption, operating costs and emissions, enabling a significant reduction in carbon footprint. By the end of its 2023-2027 Strategic Plan, ITA Airways aims to have 90 percent of its fleet composed of more environmentally friendly aircraft, which consume 25 percent less CO₂ emissions, to become the greenest carrier in Europe
The notes are listed on the Euro MTF Market of the Wien Stock Exchange and subscribed entirely by a vehicle managed by AIP Capital Limited, an alternative investment manager active in the aviation sector.
The White & Case team that advised on the transaction was led by counsel Tommaso Tosi (Milan) and included partners James Greene and Justin Benson (both London), associates Alessia Sommadossi (Milan) and James Turner (London) and lawyer Giovanni D’Apollo (Milan).
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Read the orginal article: https://www.whitecase.com/news/press-release/white-case-advises-ita-airways-us240-million-secured-notes-issuance
