Ilia has 25 years of experience and is a recognised expert in asset finance. His practice focuses on a range of aircraft financing matters including pre-delivery payment financings, ECA financings, aircraft sale and purchase transactions, portfolio sales and leasing, as well as related tax, customs and regulatory issues.
Though his work is predominantly within the aviation sector, Ilia also advises on shipping deals and assists clients with other related banking and finance transactions.
Ilia’s clients include aircraft lessors, airlines, financial institutions, export credit agencies, manufacturers, and transport operators. He primarily supports clients in the Middle East but also has experience advising across a variety of regions including the CIS, Central Asia, and Caucasus.
Expertise
- Project and asset finance
- Cross-border capital solutions
- Aircraft leasing and PDP financing
- Sale-and-leaseback transactions
- Aviation regulatory structuring
- Aircraft repossessions and enforcement
- Maritime asset finance
- Multi-asset collateral structures
Experience
Banking & Finance
- Supported clients on ECA-backed financings and multi-jurisdictional refinancing deals in emerging markets.
- Acted for major regional and international banks on secured and syndicated lending facilities for aviation acquisition
Aircraft Finance
- Advised major global lessors and Russian flag carriers on PDP financing for A320neos and Boeing 737 MAX aircraft.
- Acted for a major international lessor in a cross-border sale and leaseback of a fleet of narrowbody aircraft into CIS, with customs and tax optimisation.
- Acted for numerous major international lessors and banks in relation to their operating lease portfolios in the CIS region.
Aircraft Repossession
- Secured court-approved repossession and deregistration of aircraft for a major lessor in Eastern Europe following default.
- Advised a global lessor on asset recovery strategy after airline insolvency in CIS jurisdictions, including export logistics.
- Managed enforcement claims and dispute resolution on behalf of ECA‑funded lenders, preparing for cross-border enforcement actions.
- Developed tailored repossession roadmaps for insurers and financiers, ensuring compliance with deregistration and export protocols across multiple legal regimes.
Ship Finance
- Advised a structured finance sponsor on a mixed-collateral multi‑asset facility, securing both aircraft and shipping assets.
- Assisted investment banks and private investors with facility structuring that included maritime vessels under unified security structures.
- Advised a Middle Eastern client on the financing of multiple vessels operated by a Norwegian shipping company.
- Advised an international leasing company on an ECA-supported loan to finance several cruise vessels built in Finland.
Please note: The experience list above may include examples of work completed prior to joining Keystone Law.
Recognition
“Ilia does an excellent job of summarising complicated legal subjects and presenting a clear path forward.” Chambers Europe, 2021
“He is an excellent negotiator and has very deep knowledge of the market and the legal framework.” The Legal 500 2021
Ilia can “see the whole picture from legal and commercial points of view and warn [the clients] about commercial risks” Chambers Europe 2017
Ilia “remains one of the leading figures for aviation mandates, with sources praising his ‘ability to get involved in sensitive situations side by side with the client and provide practical help at critical times’.” Chambers Europe 2019
Career
Ilia qualified as a solicitor in 2001. Prior to joining Keystone Law in 2025, he worked at the following firms:
- A&O Shearman
- Allen & Overy
- Debevoise & Plimpton