Norton Rose Fulbright advises JALUX on aircraft engine leasing joint venture

Law firm Norton Rose Fulbright has advised Japanese trading company JALUX on a new joint venture agreement with BeauTech Power Systems (BPS) to acquire and lease IAE V2500-A5 and geared turbofan (GTF) PW1100G engines. The former are used on A320 family aircraft and the latter are used on the A320neo family aircraft. 

Both parties will each own 50% of the new joint venture, BVJ Engine Holdings, which will be a US entity with offices in Dallas, Texas. The joint venture is expected to benefit from uniting both brands' customer networks to gain a competitive advantage in the engine leasing market. 

The joint venture will initially seek to purchase assets of up to $150 million. 

The cross-border Norton Rose Fulbright team advising on the deal was led by partner Akihiko Takamatsu, with support from senior associates Mai Tezuka and Yosuke Nomura, and trainee solicitor Bea Byrne Hill in Tokyo. New York-based co-head of corporate, M&A and securities Kessar Nashat, along with partners Ryan L. Waggoner and Michael P. Flamenbaum in New York, and senior associate George Khoukaz in Dallas, advised on US aspects of the transaction. Partner Marc Waha, counsel Nicolas Cassauba and associate Joe Lee advised on antitrust aspects.