Orrick recently advised JSC “Sukhoi Civil Aircraft” (Sukhoi), a leading Russian aircraft manufacturer, as the seller, in connection with the sale, lease and financing of a fleet of 31 Sukhoi Superjet 100 aircraft to CityJet. CityJet is an Irish airline with substantial operations out of London City Airport, as well as other airports in Europe.
The deal value was reported at over $1 billion. It is an unprecedented sale/lease of Russian regional jets to a West European airline, opening new market opportunities for the Russian aircraft manufacturer. Three Superjets have already been delivered to CityJet.
The delivery and unveiling of the Superjet 100 aircraft took place at the SuperJet International S.p.A.’s (SJI) premises. SJI is a joint venture between Leonardo-Finmeccanica Company and Sukhoi Holding. SJI is responsible for marketing, sales, customization and delivery of the Sukhoi Superjet 100 internationally. The company is also in charge of training and worldwide after-sales support, as well as the design and development of the Sukhoi business jet and Sukhoi cargo.
The Irish National Football Team took the first flight on Sukhoi Superjet under CityJet brand. This Dublin-Paris commercial flight was the first Superjet flight in the European Union.
A cross-border Orrick team from Washington, D.C., London and New York worked on the deal, led by M&A and Private Equity Partner Olga Sirodoeva. The team also included M&A and Private Equity Senior Associate Mikhail Usubyan, M&A and Private Equity Associate Maria Sergeyeva, Banking & Finance Partner Dominic O'Brien and Restructuring Partner
Laura Metzger.