London, Warsaw; Global legal practice Norton Rose Fulbright has advised Polskie Linie Lotnicze “LOT” S.A. – the Polish national airline, on the purchase, delivery and financing of five Boeing 787-8 Dreamliner aircraft.

As a result of the transaction, LOT S.A. has become the first airline in Europe to operate Dreamliner aircraft. The purchase of the aircraft was financed with a credit facility extended by Apple Bank for Savings based in New York, guaranteed by the Export-Import Bank of the United States. In the case of four of the five aircraft the original credit facility was refinanced by the subsequent issue of guaranteed ‘Eximbond’ notes and placed on the US market.

The appointment of Norton Rose Fulbright to advise on the transaction confirms the practice’s position as a leader in providing legal advisory services to the aviation sector both in Poland and internationally.

Norton Rose Fulbright’s team was led by London aviation partner Duncan Batchelor and Warsaw banking partner Grzegorz Dyczkowski, supported by senior associate Krzysztof Gorzelak, associate Joanna Braciszewska-Szarapa and associate Adrian Kozinski in the Warsaw office. London securitisation partner Sandrine Sauvel also advised on the transaction, together with London based associates Aida Topcagic, Ahsan Gulabkhan, Cathy Ma and Victoria Walker.