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Suraya Tegally

Partner

England & Wales

020 3319 3700

suraya.tegally@keystonelaw.co.uk

Suraya has been advising on international asset finance and leasing for over 15 years, particularly within the aviation sector where she has additional insight and expertise gained from having been the in-house counsel for Etihad Airways in Abu Dhabi. During this time she advised on a wide range of matters and guided the Treasury and Fleet Planning teams on structured transactions, asset, cross-border, Islamic, unsecured and sustainable financings, and a number of corporate and restructuring projects.

Suraya’s experience also includes working with overseas counsel and civil aviation authorities across key jurisdictions, and advising companies in the aviation sector on a wide range of commercial aviation matters, such as pilot/crew training, catering, airport, fuel/SAF, spare parts, pooling, and technical service agreements.

Suraya advises airlines, banks, lessors, and other financial institutions on a broad spectrum of matters including the financing, purchase and sale of aircraft, engines, helicopters, corporate jets, simulators, and airport transportation.

 

Expertise

Suraya advises on aircraft and engine finance, including tax-driven structures, ECA-backed deals, Islamic finance, Jolco/JOLs, pre-delivery financing, and agency roles. Her experience includes prepayments, refinancing, security, and Aviation Authority registrations.

Experience

  • Advised Etihad Airways on over 25 aircraft secured financing transactions (including Islamic financing structures and Jolcos) for A380, B777 Freighter, and B787 aircraft.
  • Advised Etihad Airways on innovative aircraft finance structures incorporating Abu Dhabi Global Markets (ADGM) and cash advance sale and leaseback finance structure for aircraft acquisitions.
  • Advised IndiGo airline on its financing and commercial contracts relating to the financing of 10 aircraft.
  • Advised KLM airline on its Jolco financing and commercial contracts relating to the financing of 8 aircraft.
  • Advised a UK bank in relation to the financing and delivery of a corporate jet.
  • Advised a Middle Eastern bank in relation to the financing and delivery of a commercial aircraft for a Dubai-based airline.
  • Advised a European bank on the unwinding and restructuring of the financing for 6 helicopters across multiple jurisdictions.
  • Advised a German bank in relation to the financing and delivery of two commercial aircraft for a UK airline.
  • Advised airlines on the application of the Cape Town Convention and aviation authority requirements, including registration of security interests.
  • Advised an agent on its role in aviation asset finance and loan management services transactions.

Suraya advises on Islamic and sustainable finance, with experience in Sharia-compliant financings (Ijarah, Murabaha, Wakala, Sukuk) and sustainable loans and loan funding structures linked to sustainability targets and development goals.

Experience

  • Advised on the first double exposure Murabaha facility for Etihad Airways.
  • Advised on the first sustainable financing linked to sustainability targets and development goals for Etihad Airways.
  • Advised on the sale of two aircraft in accordance with Shariah principles for an Islamic fund.

Suraya advises on operating, wet and damp leases, novations, end-of-lease returns, and charters. She also handles procurement, catering, training, fuel/SAF, maintenance, pooling, and manufacturer support across the commercial aviation sector.

Experience

  • Advised Etihad Airways on over 25 aircraft sale and leaseback transactions for A380, B777 Freighter and B787 aircraft.
  • Advised Etihad Airways on innovative cash advance sale and leaseback structure for aircraft acquisitions.
  • Advised each of Flyr and Flybe airlines on the delivery and leasing of aircraft and engines, including the application of the Cape Town Convention and aviation authority requirements.
  • Advised a leasing company on lease terminations, deregistration, and repossession of aircraft in multiple jurisdictions.
  • Advised Etihad Airways Fleet Planning and Network Planning teams on all fleet aircraft sale, purchase, leasing, and charters, including intra group seasonal operations and wet-leasing projects.
  • Advised a charter company on commercial terms for charter services and operations.
  • Advised a UK airline on sustainable aviation fuel (SAF) supply and practices.
  • Advised Flybe on fuel agreements and airport service agreements.
  • Advised Etihad Aviation Training on all commercial matters including pilot and crew training, service agreements, purchase of simulators, and training services agreements with other airlines.
  • Advised Etihad Catering on all commercial matters including catering service agreements, catering agreements with other airlines, catering agreements, and services with airports.

Suraya was in-house counsel at Etihad Aviation Group, advising Etihad Airways, Etihad Aviation Training, and Etihad Catering on all financing and commercial matters, including corporate projects and equity partner airlines.

Experience

  • Advised the Treasury team on all treasury and working capital financings, group corporate projects, including the first double exposure Murabaha facility and first sustainable financing for Etihad Airways.
  • Advised the Fleet Planning and Network Planning teams on all fleet aircraft sale, purchase, leasing, and charters, including intra group seasonal operations, and wet-leasing projects.
  • Advised Etihad Aviation Training on all commercial matters including pilot and crew training, service agreements, purchase of simulators, and training service agreements with other airlines.
  • Advised Etihad Catering on all commercial matters including catering service agreements, catering agreements with other airlines, and catering service agreements with airports.
  • Advised Etihad Airways on over 25 aircraft sale and leaseback and secured financing transactions (including Islamic financing structures and Jolcos) for A380, B777 Freighter, and B787 aircraft.
  • Advised Etihad Airways on innovative aircraft finance structures incorporating Abu Dhabi Global Markets (ADGM) and cash advance sale and leaseback finance structure for aircraft acquisitions.
  • Advised Etihad Airways on a transaction which was awarded Sale and Leaseback Deal of the Year by Airfinance Journal.
  • Advised Etihad Airways on the first ADGM asset finance transaction which was awarded Middle East & Africa Debt Deal of the Year by Airline Economics.
  • Advised on the first double-exposure Murabaha facility for Etihad Airways.
  • Advised on the first sustainable financing for Etihad Airways.

Suraya advised Indian airline IndiGo for over five years on the delivery and leasing of aircraft and engines, including the application of the Cape Town Convention and aviation authority requirements.

Experience

  • Advised Indian airline IndiGo on its first aircraft ECA financing.
  • Advised Indian airline IndiGo on its aircraft operating leases with major aircraft lessors for over 10 aircraft.
  • Advised Indian airline IndiGo on its aircraft refinancings, lease extensions, and novations for over 5 aircraft.
  • Advised Indian airline IndiGo on commercial contracts relating to aircraft and engine finance and leasing.
  • Advised Indian airline IndiGo on Airbus aircraft deliveries and closings for over 15 aircraft.

Please note: The experience list above may include examples of work completed prior to joining Keystone Law.

Recognition

Recognised in Airline Economics 40 under 40 Class of 2024

UN Introduction to Sustainable Finance certification, 2024

LSE MBA Essentials certification, 2020

Islamic Finance Qualification, 2017

Islamic Aviation Financing Correspondent for Islamic Finance News 

“An extremely accomplished and gifted lawyer. Her prior experience gives her an insight and a level of vision into the airline sector from which many of her peers do not benefit.”

The Legal 500 Client testimonial

Suraya qualified as a solicitor in 2011. Prior to joining Keystone Law in 2024, she worked at the following firms:

  • Addleshaw Goddard
  • DLA Piper
  • Etihad Aviation Group, Abu Dhabi, UAE
  • Norton Rose Fulbright

Suraya's latest news and resources