Global law firm Freshfields has advised Deutsche Lufthansa AG on the sale and leaseback of three Airbus 321neo and five Airbus A320neo operated by Eurowings. The sale of the aircraft generated proceeds for Lufthansa of over $400m.

All transactions were entered into with the same lessor and include, with respect to seven aircraft, tailored warehousing structures, allowing for a pre-determined subsequent cross-border transfer of the lessor position on an aircraft-by-aircraft basis. This feature was introduced on the lessor’s demand to support the transfer of the leases in case of a potential subsequent placement of the equity.

The transactions for the individual aircraft closed between July 2024 and November 2024 and further support Lufthansa in its effort to modernize its fleet with more fuel-efficient aircraft of the latest generation.

Freshfields advised Lufthansa on all aspects of the transactions, including the Request for Proposal process, structuring, documentation, negotiation and implementation.

The Freshfields Team was led by Partner Johannes Vogel, Principal Associate Sebastian Naujoks and Associate Tony Areri (all Finance, Frankfurt) and further included Partners Flora McLean (Finance, London) and Konrad Schott (Finance, Frankfurt) as well as Counsel Celine Zeng (Finance, Frankfurt).

Freshfields regularly advises Lufthansa on aircraft financing and leasing transactions, including on sale and leaseback transactions for five Airbus A321neo and seven A320neo aircraft in December 2023.