Advising on Korean Air’s purchase of thirty three (33) A350 aircraft, the deal size approximately US$13.8 billion

Leading Korean law firm Lee & Ko have advised on Korean Air’s acquisition of a fleet of thirty-three (33) aircraft from Airbus SAS, comprising twenty-seven (27) units of A350-1000 model aircraft and six (6) units of A350-900 model aircraft. The aggregate value of the transaction stands at approximately US$13,700,000,000, which translates to approximately KRW18,173,000,000,000.

Lee & Ko have assisted the client from the outset of the transaction, advising on terms of the relevant legal documentation and related issues from a strategic and holistic perspective. Across a number of agreements, Lee & Ko provided instrumental advice in a timely fashion so that material issues could be identified and commercially appropriate solutions found for them by reference to Lee & Ko’s cumulative expertise and market knowledge.

Lee & Ko have provided forward-looking advice spanning multiple stages of the aircraft’s life beyond the initial purchase. Lee & Ko proactively identified issues which could potentially arise in the future, such as those concerning aircraft delivery or advance payments, and proposed commercially attuned solutions, thereby enhancing the client’s capacity to manage its commercial contracts and its relationships with important stakeholders and its capacity to anticipate and resolve issues ahead of time.