COBALT advised an Irish aircraft lessor Genesis on its strategic alliance with Heston Aviation to create Heston Airlines. COBALT acted as a local counsel for Genesis and its group companies in establishing a strategic alliance with Heston airlines, including the leasing of a number of A320 aircrafts and other support.
Heston Airlines will be a new Lithuanian-based charter as well as aircraft, crew, maintenance and insurance service provider, offering wet and dry leasing solutions to airlines. Genesis will work with Heston Airlines to deliver a number of additional A320 aircraft in 2021.
This is the first time when an aircraft lessor establishes a wide-scope cooperation with a start-up airlines company to roll out and expand its activities. The unprecedented scope of cooperation required novel solutions and collaboration between the parties.
McCann FitzGerald was the lead counsel for Genesis, and COBALT was the local counsel. COBALT team was responsible for structuring the deal, advising on regulatory matter, drafting and reviewing the documents, and assisting in the closing procedures. The team consisted of Partner and Co-Head of the Banking & Finance Practice Group Akvilė Bosaitė, Senior Associates Dr Lina Aleknaitė-van der Molen and Justinas Šileika, and Associates Justina Aužbikavičienė and Andra Gavėdaitė.