Dentons HPRP Supports ABFA Investments in Five ATR 72-600 Multi Layered Aircraft Acquisitions Involving Eight Jurisdictions

Dentons HPRP's aviation team has successfully advised ABFA Investments, an international single-family office with main offices in Dubai (UAE), London (UK), and Sofia (Bulgaria), on the acquisition of five ATR 72-212A "600 Version" aircraft from NAM Air through a two-layered purchase transaction.

The five aircraft were mortgaged to Export-Import Bank of Malaysia Berhad (Malaysian EXIM Bank) to secure the payment obligations of NAM Air's affiliate, Sriwijaya Air. Summit Aerospace Services LLC acquired legal ownership of the aircraft from NAM Air, after which ABFA purchased them from Summit. The two-layered, same-day closing highlights the transaction's complexity, particularly due to the involvement of eight jurisdictions: Indonesia, Singapore, Malaysia, Dubai, Bulgaria, and three U.S. states (New York, Oklahoma, and Florida).

Our scope of work included reviewing transaction documents to ensure compliance with Indonesian regulations. We also assisted the client in addressing contractual and practical issues related to the necessity of keeping the aircraft registered under NAM Air's mark after the transaction closes, due to the scheduled maintenance checks. This project is significant as the aircraft will be operated by Sun Air - ABFA in Bulgaria, marking the company's first ATR fleet.

The transaction was led by Hendra Ong (Partner), supported by Ken Atyk Nastiti (Senior Associate) and Gregorius Alisander Ponglapik (Associate).

Dentons HPRP's Aviation team has extensive experience in assisting clients across almost every aspect of the aviation business. For more information about our services, please contact our Partner listed in the Key Contact section.

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