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Deals August 2021

Kinstellar successfully represents before the Czech Constitutional Court

Kinstellar has successfully represented Kiw before the Czech Constitutional Court, which struck down a preliminary injunction issued by a lower court based on a claim by low-cost carrier Ryanair.  According to the Constitutional Court, the preliminary injunction issued by the Regional Court in Brno in January and subsequently upheld by the High Court in Olomouc interfered with the freedom of expression, right to conduct business and right to judicial protection.   As the Constitutional Court noted, the right to freedom of expression applies to a certain extent also to commercial communications. Consequently, when issuing a preliminary injunction, it is necessary to thoroughly assess whether information

Deals May 2021

Kinstellar advises Venus Airport Holdings B.V. on its sale of 100% of the share capital of International Airport Almaty JSC, the biggest airport in Central Asia

Kinstellar has successfully advised Venus Airport Holdings B.V. on the sale of 100% of the share capital of International Airport Almaty JSC to entities representing a consortium of TAV Airports, a member of Groupe ADP, and VPE Capital. The share transfer of Almaty Airport to the consortium took place on 29 April 2021. TAV is now 85% beneficial owner of Almaty Airport and associated fuel and catering businesses, and Kazakhstan Infrastructure Fund, managed by VPE Capital and backed by Kazyna Capital Management, holds the remaining 15% stake. First opened in 1935, Almaty is the busiest hub in Central Asia. The airport has two runways. Located in the southeast of the country and an important stop on the ancient

Deals July 2020

Kinstellar advises the Hungarian State on its investment with Airbus in a greenfield project

Kinstellar's team in Budapest has advised the Hungarian State on a greenfield investment in the aerospace sector. The Hungarian State invested into a helicopter spare parts manufacturing plant to be established in Hungary jointly by Airbus Helicopters and the wholly Hungarian State owned NLP Nemzeti Légiipari Projekt Kft. The new helicopter part manufacturing entity is called Airbus Helicopters Hungary Kft. and will manufacture high-precision metallic elementary parts of helicopters for the complete Airbus product range and will employ more than 200 highly-trained workers in Hungary. Kinstellar's mandate included afull-scale legal support regarding the establishment of the joint venture entity as well as the initial steps

News June 2020

Meridiam-led consortium gets final approval for Sofia Airport concession

Kinstellar is honoured to announce that, on 5 June 2020, the Bulgarian Supreme Administrative Court gave a “green light” to the Bulgarian government and the SOF Connect consortium, led by French infrastructure fund Meridiam and including Strabag AG and Flughafen München GmbH, to proceed with the signing of a 35-year concession contract to operate Sofia Airport. The Court upheld the decision of the Bulgarian Commission for the Protection of Competition (CPC) that the Sofia Airport concession was lawfully granted to SOF Connect and that all appeals of other bidders against the award are unfounded. This latest administrative approval will allow the consortium to implement its unique vision to grow Sofia Airport

Insights May 2020

Aviation: Outlook and Opportunities

26 May 2020 – As companies continue to face the impact of the COVID-19 pandemic on their business, our experts keep you up to date and provide practical insights on the key developments related to your sector. AVIATION: Outlook and Opportunitiesas seen by Oleksiy Burchevskyy, Head of Aviation, Kinstellar 1. Do you expect a decline or increase in the number of deals in the sector in 2020 / 2021? Deliveries of new aircraft are down significantly, with around 600 aircraft of all major types expected to be delivered in 2020. Leasing of new aircraft has fallen significantly. Due to expected overcapacity, the leasing market is not expected to pick up earlier than summer 2021. Steady but slow growth in the sector is expected

Insights May 2020

Kinstellar Podcasts: How the Covid-19 crisis affects the aviation industry

19 May 2020 – Welcome to our new podcast and thank you for tuning in! This episode features a discussion between Oleksiy Burchevskyy, the head of the aviation sector at Kinstellar and aviation law specialists Isabelle Lelieur, Thierry Mazoyer, both Partners at Chevrier Avocats, a French boutique law firm specializing in the aviation sector, and Vincent Morand, a senior consultant with DFDL, an integrated international law firm with offices across Southeast Asia. The talk explores how the Covid crisis affects the aviation industry, in particular how airports are surviving the crisis, how lessors handle aircraft leases and repossessions and how airlines policies towards passenger refunds. Click here to listen https://kinstellar.pod

Insights March 2020

Regional: COVID-19 as Force Majeure in Aviation Contracts. Comparative Analysis across 10 Jurisdictions

26 March 2020 – As the COVID-19 pandemic and related decrease in international travel throws the European aviation industry into a standstill, an increasing number of businesses in the aviation supply chain are struggling to meet their contractual obligations. Obviously, many lawyers are looking at force majeure clauses as a last resort to relieve their clients of the most burdensome contracts. Most aircraft lease agreements are governed by English law, with a “hell or high water” clause requiring lessees to make lease payments regardless of whether an aircraft is operating or parked on the ground. However, many aviation contracts (related to maintenance, ground handling, rent of airport facilities, charters etc.) are drafted under local

Insights November 2019

Ukraine allows private sector involvement in space activities

Ukraine’s space industry has entered a new era. On 25 October 2019 the President signed the recently approved Law of Ukraine “On Amendments to Certain Laws of Ukraine on the State Regulation of Space Activities”. The main purpose of the new legislation is to commercialise space activities in Ukraine, which until now were reserved for state operators. The changes take effect on 29 January 2020, with certain provisions taking effect in October next year. Ukraine was once a powerhouse of the Soviet space industry and was an active space user after gaining independence in 1991. Afterwards, the Ukrainian State Space Agency participated in numerous space projects such as Sea Launch, Land Launch, Dnipro and Twinning Space

Insights September 2019

Aviation Sector Update, Ukraine

During the summer 2019 the Cabinet of Ministers and State Aviation Service (SAS) of Ukraine adopted several important bylaws further harmonising Ukrainian legislation with European Union Aviation Safety Agency (EASA) standards and, in certain cases, responding to market pressure. Our Aviation Sector team had analysed the main developments, which are summarised below. Changes in aviation insurance On 14 September 2019, the Cabinet of Ministers amended the Procedures and Rules for Mandatory Civil Aviation Insurance approved by its own Resolution No. 676 dated 6 September 2019. The government succumbed to pressure from the main market players, who were clearly dissatisfied with the original version of the document

News July 2019

Kinstellar is singled out as an “established aviation practice” in Ukraine

Kinstellar is honoured to be named as an “established aviation practice” in Ukraine by the legal survey Ukrainian Law Firms: A Handbook for Foreign Clients 2019. Oleksiy Burchevskyy, head of Kinstellar’s firm-wide Aviation sector, received the highest recommendation as the “leading individual” for the aviation industry in the ranking. According to the survey, Kinstellar’s team in Kyiv is very well equipped to render regulatory advice, commercial contracting and dispute resolution related to the industry. The team involved in aviation matters includes: Oleksiy Burchevskyy, Knowledge Lawyer in the Kyiv office and firm-wide head of the Aviation sector. Before joining Kinstellar, Oleksiy worked for

Insights January 2019

Ukraine introduces new taxation rules for aviation fuel to prevent tax avoidance

Excise duty in Ukraine on aviation fuel has increased by ten times as of 1 January 2019, in accordance with the Law of Ukraine № 2628-VIII “On Amendments to the Tax Code of Ukraine and Certain Other Legislative Acts in Relation to Improved Administration and Revision of Certain Taxes and Duties”. Under the amended tax code, the newly increased excise duty is charged at either the importation or sale of domestically produced aviation fuel, except in cases when fuel is directly supplied to an aircraft. The new set-up is designed to prevent tax avoidance, as previously low rates of excise duty has lead to the situation in Ukraine where aviation fuel is systematically used to produce diesel fuel for ordinary cars, thus

News December 2018

Kinstellar provides expert overview of aircraft financing in Kazakhstan

Kinstellar is proud to have contributed to the 2018 edition of the Pillsbury World Aircraft Repossession Index with information about Kazakhstan. Now in its third year, the Index provides expert analysis of the legal environment in 102 jurisdictions regarding the repossession and export of aircraft assets. Although Kazakhstan's overall score of 46% places it in the higher risk category, the Index highlights several positive trends in the country for aircraft financiers. These include Kazakhstan's accession to the Cape Town Treaty and its related Aircraft Protocol in 2011, which has led to the incorporation of aircraft deregistration provisions into local legislation. As a result, the country now qualifies for the reduction