Air Transport Industry Group
Smith, Gambrell & Russell, LLP has one of, if not the, longest standing aviation practices in the United States, having specialized in and been widely known for its aviation law expertise since the 1920s.
For example, the Firm represented Eastern Airlines from its inception in 1927 to its merger with Texas Air Corporation in 1986. Over the years, Smith, Gambrell has greatly broadened its industry representation to include lessors, financiers, aircraft owners and other airlines in their domestic and international aircraft transactions, including direct purchases, sales, and sale and leasebacks with various kinds of debt financing and leveraged and operating leases.
Smith, Gambrell & Russell, also served for several years as principal outside counsel to Trans World Airlines. and currently represents, among others, AirTran Airways, Mesa Airlines, Avianca, Skybus, SAM, Frontier Airlines, VARIGLOG, Aires, vivaAeroBus, OceanAir, VIPSA and Wayraper in aircraft acquisition and financing transactions. In various specific capacities we also represent a number of other international airlines. Past airline clients have also included Continental Airlines and Western Pacific Airlines in equipment financing transactions and Meridiana SpA in aircraft acquisition Transactions. In addition, the Firm also represents several manufacturers of specialized aircraft and aircraft parts, including, Goodrich Corporation, and, we formerly represented one of the largest worldwide independent overhaulers of aircraft engines.
We also regularly represent major lessors and financiers of various types of flight equipment. Clients have included, among others, Bank of America, CIT Group, RPK Capital Management, Caterpillar Financial Services and TransAtlantic Aviation in connection with the acquisition, disposition, financing and leasing of various aircraft.
We have handled the financial restructuring and refinancing of several large airlines (e.g. TWA and Avianca) and are experienced in dealing with public and private bond and other debt holders of airlines as well as other creditors.
We are experienced in negotiating and documenting aircraft acquisitions of all types as well as all varieties of the finance and leasing of flight equipment, including, among others, traditional leveraged leasing, operating leases, “double dips,” Japanese lease financings, equipment trust financings and all types of export credit enhanced and other offshore financings. Among others, we have represented various airlines in connection with many aircraft financings guaranteed by the Export-Import Bank, Coface, Hermes, ECGD, SACE, EDC and PROEX, the export credit arms of the United States, French, German, British, Italian, Canadian and Brazilian governments, respectively.
We also represent public and private companies and individuals involved in the sale, financing, lease and/or operation of new and pre-owned corporate aircraft.
Smith, Gambrell & Russell’s experience enables the Air Transport Industry Group to offer clients cost effectiveness, industry knowledge and a credible “known quantity” in the air transport industry. Our analysis of and solution for each problem incorporate an awareness of many options and alternative structures that have resolved complex issues in the past, allowing us to react quickly to help our clients solve their problems and structure and close transactions on a favorable basis.
Howard E. Turner heads the practice group principally responsible for air transport industry projects and has been active for many years on the ABA’s Aircraft Finance Subcommittee. Numerous other partners and associates are involved in the various aspects of aircraft financing, both in practice and on the committee/lecture circuit, reflecting the depth of our commitment to the aircraft, aircraft engines and parts, acquisition, financing, sales and leasing areas.
