Philippi Prietocarrizosa Ferrero DU & Uría advised CDBALF on the financing for three new Airbus A320s leased to JetSMART.
CDBALF is the aircraft leasing unit of China Development Bank Financial Leasing Company. JJetSMART, an ultra-low cost airline, is set to launch this year in Chile. The carrier is backed by Indigo Partners, an airline-focused investment fund.
The transaction, which value was not disclosed, sets a precedent in Chile since no airline has launched with brand-new aircraft in the country. JJetSMART will begin operations in Chile with new planes with state of the art technology and has promised ticket prices as low as under $2 one-way
Partner Marcelo Armas led the PPU team advising the leasing company, which also instructed Clifford Chance in NY.