Milbank Advises on US$10 Billion in Deals Signed at Singapore Aerospace Airshow in Asia

Milbank, Tweed, Hadley & McCloy LLP partner and head of the firm’s aviation and asset finance practice in Asia, Paul Ng advised on more than US$10 billion in transactions at the Singapore Airshow, Asia’s largest gathering for the global aerospace community.

Milbank was counsel on no less than five transactions signed at the Airshow including a over $3 billion jet engine deal with Pratt & Whitney for VietJet, a privately-owned Vietnam-based airline which is one of the fastest growing carriers in East and Southeast Asia. These engines will power Vietjet’s fleet of new A320 and A321 NEO aircraft. Milbank also acted on a new multimillion dollar simulator Airbus training facility for Vietjet to be based in Ho Chi Minh, the first of its kind in Vietnam and also helped Vietjet ink a US$60 million maintenance, spares and services support agreement with Switzerland’s SR Technic. Milbank also acted for lessors and equipment suppliers on other aircraft and engine sale transactions totally over US$6 billion (at catalog prices).

“We’re very pleased to represent a number of clients at the Singapore Airshow, on their landmark transactions,” said Paul Ng, “It is clear from the Airshow, that East Asia continues to be an important and vibrant region for the continuing development of the aviation economy.”

Mr. Ng is highly regarded for handling complex and innovative transactions in the transport industry, including those involving rolling stock, oil rigs, satellites, and ocean vessels, in addition to aircraft. He is ranked tier 1 in league tables including in Chambers Asia and nominated “best of the best” for aviation law Legal Media Group.

Milbank’s Transportation and Space practice group, globally recognized for the most sophisticated and groundbreaking transactions in transportation finance, is routinely singled out by publications such as Airfinance Journal for its pivotal advisory role. In its 2014 and 2015 annual industry overview, Airfinance Journal cited out no fewer than 11 Milbank transactions as Deals of the Year.