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ARTICLE · 08 JUNE 2016

Aviation Finance Update: Canada

Blake, Cassels & Graydon LLP
Blake, Cassels & Graydon LLP
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Blake, Cassels & Graydon LLP

Blake, Cassels & Graydon LLP

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The Blakes Aviation group, representing the underwriters led by Morgan Stanley and Credit Suisse, is pleased to have assisted in the closing of the third Air Canada enhanced equipment trust certificate transaction.

CanadaTransport
Blake, Cassels & Graydon LLP
Blake, Cassels & Graydon LLP
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The Canadian EETC Trilogy

Donald Gray
Head, Aircraft Finance

The Blakes Aviation group, representing the underwriters led by Morgan Stanley and Credit Suisse, is pleased to have assisted in the closing of the third Air Canada enhanced equipment trust certificate (EETC) transaction.

In April 2013, we assisted in the structuring and closing of Air Canada EETC 2013-1 for five new Boeing 777 300ERs, which was a historic transaction, including the following features:

  • Canada's first EETC
  • World's first EETC to enjoy full Cape Town Convention benefits on an unqualified basis
  • World's first EETC issued by non-U.S. airline to receive "pure" EETC pricing and terms
  • 4.66 per cent blended rate effectively priced better than U.S. benchmarks (significant NPV savings over next best alternative)

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