SINGAPORE – Global law firm Reed Smith and ST Engineering, together with ST Engineering’s launch customer Vaayu Group and Passenger-to-Freighter (P2F) converter house EFW, have been awarded Airline Economics Asia-Pacific freighter deal of the year in the Aviation 100 Awards 2022, for a first of its kind transaction, placing the world’s first converted A320 freighter on lease.

Related Professionals: Simon G. Spells

Plane flying between two skyscrapers

ST Engineering and EFW delivered the world’s first Airbus A320 P2F aircraft to ST Engineering’s launch customer, Vaayu Group, who placed the Aircraft on lease to freighter operator Pradhaan Air Express.

The delivery marks the birth of the world’s first A320P2F and completion of the Airbus P2F family developed jointly by ST Engineering, Airbus and EFW.

This A320P2F aircraft is owned by the aviation asset management business of ST Engineering, and is the first of several converted freighter aircraft that will be leased to Vaayu. It joins the other already operational Airbus P2F platforms, the A330-300P2F, A330-200P2F and A321P2F, which were first redelivered in 2017, 2018 and 2020 respectively.

Reed Smith’s Singapore aviation team, led by partner Simon Spells and supported by associate Jun Wei Chua and paralegal Hannah Tablan, advised ST Engineering on the transaction.

Spells, who leads the aviation practice in Singapore for Reed Smith, said: “We are delighted to have been named the winners of the freighter deal of the year alongside our client, ST Engineering, on another first of a kind transaction. Not only was this deal significant for our client, but also for the operator and the Indian market where dedicated cargo capacity has now been secured.”

Yip Hin Meng, EVP & Head Aviation Asset Management for ST Engineering said, “We want to thank Reed Smith’s Singapore aviation team for their commitment and professionalism in completing this project with us. Their excellent support has helped us to establish this significant milestone in our aviation industry.”