K&L Gates Straits Law advised Avation, Singapore-based aircraft leasing company, in earning the first-ever aircraft green loan from Deutsche Bank to finance three low-carbon emission ATR 72-600 aircraft.
ATR 72-600 expects to reduce its CO2 emission by 7,500 fewer tons per aircraft per year. Avation executive chairman Jeff Chatfield said: "As a lessor, it is essential for us to progress our fleet into new technology low carbon emission aircraft such as the ATR 72-600 which maintain their value over a long period."
Avation’s environmental, social and governance (ESG) profile is expected to improve after securing the certification from a third party who verified the loan fulfilled necessary ESG themes for it to be considered ‘green’.
Led by partner James Bradley, the English law aspects of the deal were supported by Hannah Davies, Caitlin Forsyth, and Natalia Toh, while the team led by Ahmad Khalis and supported by Cheryl Lau and Nandana Marur advised on the Singapore law aspects of the deal.