Maples Group advises Altavair on US$582 million debut aircraft ABS transaction

Maples and Calder, the Maples Group’s law firm, has advised Altavair L.P., a leading global aviation asset management firm, on the Cayman Islands and Irish law aspects of its debut US$582.88 million aircraft lease ABS issuance. The transaction closed on 4 March 2025. 

It involved the issuance of Class A and B notes, the proceeds of which will be used to finance a diversified portfolio of 24 commercial aircraft. The portfolio consists of 21 narrowbody aircraft and three widebody aircraft, on lease to 11 lessees located in 11 jurisdictions and has an initial value of approximately US$787.9 million. 

The notes are listed on the Cayman Islands Stock Exchange, with the Maples Group acting as the listing agent. 

The multi-jurisdictional team of asset finance lawyers included Jonathon Meloy, Cayman Islands Head of Finance and Co-Head of Asset Finance; Anthony Philp, Partner; and Sorcha O’Keefe, Associate, from the firm’s Cayman Islands office. From the firm’s Irish office, the team included Mary O’Neill, Partner; Alex Walsh, Of Counsel; and Gerard Grogan, Associate.  

“It has been extremely rewarding to work with our valued client Altavair on their debut ABS issuance in furtherance of their strategic growth objectives,” O’Neill said.  “Our global Asset Finance team continues to lead in delivering exceptional legal services to our clients for complex cross-border asset finance transactions.”