A&O Shearman maintains a firm position in the aviation finance and leasing market, advising a diverse range of global lessors, airlines, and financial institutions on high-profile, sophisticated transactions. The team is known for its capabilities across asset acquisitions, portfolio sales, sustainability-linked credit facilities, Islamic finance, restructurings, and repossessions. The practice is co-led by Paul Nelson, who brings extensive experience across aviation and shipping, with a focus on operating leases, secured and unsecured financings, M&A, and capital markets work. Kevin Young, also co-heading the team, is active across the aviation, shipping, and rail sectors, advising on securitisations, leasing and chartering structures, and aircraft acquisitions. Jonathan Bevan brings further expertise in the rail sector, advising on debt financing and the acquisition and disposal of rolling stock. Harry Upcott left the firm in July 2025.
Legal 500 Editorial commentary
Testimonials
Collated independently by Legal 500 research team.
- 'The depth and experience of the team really sets them apart - they are experienced in all kinds of finance and leasing structures.'
- 'Paul Nelson's experience and expertise are unrivalled in the industry. He is both strategic and highly technical. Evgenia Erakhtina's attention to detail is exceptional. All advice is clearly thought through and clearly articulated.'
- 'Highly regarded and experienced team, with strong expertise in advising and executing structured transactions.'
- 'Responsive, clear and reasonable.'
- 'The team deeply understands our business and the specific issues that matter to clients. Their advice is consistently excellent, practical and tailored to our business.'
- 'The depth and experience of the team really sets them apart from other practices; they are experienced in all kinds of finance and leasing structures. They are a pleasure to work with and feel like an extension of our own team.'
Key clients
- Dubai Aerospace Enterprise (DAE) Ltd
- International Airlines Group (IAG) – British Airways and Iberia
- Virgin Atlantic Airways Limited
- AviLease
- Orix Aviation
- Bpifrance
- UK Export Finance
- AFIC
- BNP Paribas
- Avolon
- CA CIB
- Itasca
Work highlights
Advising DAE on its acquisition of 100% of Nordic Aviation Capital, whose aircraft fleet comprises over 250 owned and committed assets on lease to approximately 60 airline customers in approximately 40 countries.
Advising a syndicate of banks led by Société Générale on the up to $2bn Hybrid Capital Instrument issued by a subsidiary of ADNOC Logistics & Services Plc,.
Advising IAG on its $3 billion innovative multi-borrower sustainability-linked revolving credit facility accessible to IAG’s operating companies, British Airways, Iberia and Aer Lingus.
Lawyers
Leading partners
The strongest partners in their field, leading on market-leading deals and endorsed by peers and clients alike.
Kevin Young
Next Generation Partners
Junior partners with significant recognition from clients and peers in the market and key roles on multiple matters.
Evgenia Erakhtina
Practice head
Paul Nelson; Kevin Young; Jonathan Bevan
Other key lawyers
Brendan McCarthy; Evgenia Erakhtina; Ainsley Ierland; Josh Davis-Tang