Conyers provided Bermuda law advice to Aircastle Limited (“Aircastle”) (NYSE: AYR) in connection with a joint venture to invest in leased aircraft (the “Joint Venture”) with an affiliate of Ontario Teachers’ Pension Plan (“Teachers'”), the largest single-profession pension plan in Canada. The Joint Venture was announced by Aircastle on 19 December 2013 and its first investment is two Airbus A330 family aircraft manufactured in 2013 and leased to Indonesian flag carrier, PT Garuda Indonesia (Persero) Tbk. Both aircraft were purchased from Aircastle, which had acquired them earlier this year upon delivery from Airbus.
Jason Piney, Niel Jones and Chiara Nannini of Conyers advised on this matter, working alongside Milbank, Tweed, Hadley & McCloy LLP. Debevoise & Plimpton LLP acted for Teachers.