Mario has specialised in asset finance and leasing transactions for over 30 years with particular expertise in the aviation, defence and satellites sectors.
His clients include banks, lessors, airlines, manufacturers, sovereigns and ECAs across a whole spectrum of aviation deals including operating leasing, Japanese operating leases, finance leases, UK tax leases, French tax leases, debt financing, pre-delivery financings, Islamic leases, EETCs, manufacturer support and export credit transactions. Mario has extensive experience in the satellite sector, including in project finance constellation financings.
phenomenal knowledge and depth of experience with an excellent negotiation style in order to achieve the desired result.
Chambers Global
He’s one of the best – totally unflappable and able to cope with anything you throw at him.
Chambers Global
takes a great interest in his clients
Chambers & Partners
Expertise
- Aviation
- Satellites
- Finance leases
- Operating leases
- Islamic leases
- Japanese operating leases
- UK tax leases
- French tax leases
- Debt financing
- Pre-delivery financing
- EETCs
- Manufacturer support
- Export credit transactions
- Airline procurement contracts
- Airline restructurings
- Satellite constellations
Experience
- Advised the Greek Government on the proposed privatisation of Olympic Airways.
- Represented Sair Group on the proposed privatisation of Malev Hungarian Airlines.
- Advised the shareholders of SALE in relation to the disposal by trade sale of Singapore Aircraft Leasing Enterprise Pte Ltd.
- Acted for the Ministry of Defence of Qatar in connection with the multi-billion UKEF-backed commercial financing of 24 Typhoon aircraft which represented the largest ever UKEF direct lending facility.
- Acted for a lender on the purchase of a loan participation in relation to the JOLCO facility for 2 Dash 8 – Q400 aircraft on lease to an Asian airline.
- Advised a Middle East lender on the Ijara lease financing and subsequent sale and leaseback to Singapore Airlines of one Airbus A350 aircraft.
- Represented a Middle East investor on the purchase of a H145 T2 Helicopter.
- Acted for a Middle East lender on the Ijara lease financing of two Boeing 737 Max 8 aircraft for FlyDubai.
- Acted for a French lender in relation to the PDP financing of eight Airbus A330 aircraft for Synergy.
- Acted for European lenders on a PDP financing of twelve aircraft for Czech airlines.
- Represented Stellwagen on the purchase of C295 military aircraft from Airbus and subsequent leasing for the UN World Food programme.
- Acted for the lenders in a US$750 million limited recourse warehouse facility for an operating lessor.
- Acted for the lenders in a US$140 million buyer furnished facility for a Middle East airline.
- Acted for a syndicate of lenders in a debt operating lease financing of an Airbus A340 for Emirates.
- Acted for a European cargo airline on the financing of two 747-8f freighter aircraft.
- Advised a European cargo airline on the secured debt re-financing of one 747 cargo aircraft.
- Acted a European cargo airline on a junior murabaha facility and senior secured loan for two Boeing 747-400F.
- Acted for European cargo airline on a JOL financing of one Boeing 747 aircraft with senior debt to be provided by a French lender and Japanese equity by Fuyo General Lease Co.
- Advised an Asian airline in relation to the export credit supported financing of two A330-300 aircraft.
- Acted for a Middle East airline in relation to a series of aircraft financings including one A321 and one Boeing 777 debt financing; two A320 operating leases with a major operating lessor; three Japanese operating leases with an Asian bank and the first 100% 15 year Korean lease financing of an A380 arranged by Magi Partners.
- Advised an Indian airline in relation to the operating leasing of two Airbus A320 aircraft with Aercap; and four Airbus aircraft with CIT.
- Acted for a Spanish airline in relation to the EETC of 20 A320 family aircraft combining capital market funds, bank debt and Jolcos.
- Represented a Polish airline in the operating lease financing of four Embraer 175 aircraft.
- Advised an Australian flag carrier in the ECA-backed French Tax lease financing of three A330-200 aircraft and ECA debt financing of two A380 aircraft.
- Acted for Royal Jordanian in connection with its re-fleeting programme, negotiating with Airbus, Boeing, Embraer and a number of Engine manufacturers; subsequently advising Royal Jordanian on its operating leases with Avolon, CALC, and Azora.
- Acted for Virgin Atlantic on its £1.2bn solvent recapitalisation, being the first restructuring plan to be sanctioned by the English High Court under the new part 26A of the Companies Act 2006.
- Advised an International airline on a joint venture with Vertical Aerospace for the purchase of short-haul eVTOL aircraft.
- Acted for an Indian airline on numerous commercial debt financings of new B787 and subsequent finance sale and leaseback of several Boeing 787-900 aircraft.
- Advised UKEF on the ECA-backed lease financing of Boeing aircraft from an operating lessor to LATAM.
- Acted for UKEF on the first export credit supported Sukuk financing for several Airbus A380 aircraft for Emirates.
- Acted for UKEF on the restructuring of three ECA supported facilities for an airline to implement the European ECA common approach to rent deferrals.
- Acted for Bpifrance on the amendments to numerous ECA supported Airbus A380 financings for a Middle East airline to accommodate the airline’s request for rent deferrals in line with the ECA Common Approach for Aircraft Debt Holidays due to Covid-19.
- Acted for Euler Hermes on the ECA-backed financing of one Airbus A330 Aircraft for an operating lessor to be operated by Avianca.
- Acted for the financiers and Bpifrance on the ECA-backed financing of 11 ATR aircraft for Avianca.
- Acted for Bpifrance on its supported financing of three Airbus A380 aircraft for Emirates delivered between November and December 2020 and financed by JPM and Banco Santander with a mismatch facility provided by Airbus. These were the first A380 aircraft delivered to Emirates since the onset of Covid-19.
- Acted for UKEF on the ECA operating lease supported financing of two Boeing 787 aircraft for an operating lessor sub-leased to Air Europa and three Airbus A320 aircraft sub-leased to Azul and Vistara.
- Acted for Bpifrance in connection with the release of the ECA-backed operating lease facility for an operating lessor for a number of aircraft sub-leased to various sub-lessees including Avianca, Hainan, Virgin Blue, SAA and Garuda.
- Acted for Euler Hermes on the ECA-backed operating lease financings for a number of aircraft for an operating lessor sub-leased to Airblue, VietJet, Indigo, Star Flyer and Vueling.
- Acted for State of Qatar, as represented by its Ministry of Defence, on its entry into a multi-billion direct facility with UK export finance (as lender) and export credit-backed lending for the supply of 24 Typhoon aircraft.
- Acted for an operating lessor on the purchase of two new CFM engines from the manufacturer CFM International for installation on an existing lease with Norwegian Airlines and the sale of the two current CFM engines on lease to Norwegian to CFM.
- Acted for an operating lessor on the operating lease of four Boeing 737-800 Aircraft for Transavia.
- Advised Bpifrance and SACE in connection with NAC’s Irish restructuring process which affected a portfolio of 22 ECA supported NAC aircraft.
- Acted for Virgin Atlantic on its £1.2bn solvent recapitalisation, being the first restructuring plan to be sanctioned by the English High Court under the new part 26A of the Companies Act 2006.
- Acted for a Middle East investor on the sale of a number of private jets to high-net-worth individuals.
- Acted for Telesat Lightspeed on its export credit-backed and debt financing of a 298 LEO constellation.
- Acted for Measat on its export credit-backed financing of Measat 3d satellite.
- Acted for O3b Networks Limited – UKEF and a syndicate of lenders on the US$1bn export credit-backed project financing of a MEO satellite constellation of twenty satellites for broadband communications services for O3b Networks Limited, including their procurement, insurance, launch, intercreditor arrangements and restructuring.
- Acted for the lenders to OneWeb (including Bpifrance, HSBC, ING JBIC, EBRD, IFC, UKEF, and Mizuho) on a UDS4bn project financing of a constellation of 882 LEO satellites for OneWeb.
- Acted for a lender in its debt participation of the financing of TurkSat 5A and 5B satellites for TurkSat.
- Acted for BMBF and Abby National in relation to a USD253m cross-border lease financing of two geostationary satellites for GE American Communications Satellites.
- Acted for Lloyds Leasing in relation to a USD216m cross-border lease financing of two satellites for Telenor.
- Acted for Telenor on the restructuring of certain lease facilities and the disposal of part of its telecoms operations.
Recognition
Legends Award (2024) for exemplary leadership and innovative contributions to the aviation community by Airline Economics
Career
Mario qualified as a solicitor in 1989. Prior to joining Keystone Law in 2024, he worked at the following firms:
- Allen & Overy
- Wilde Sapte (now known as Dentons)