Financing

The law firm has advised a local aircraft maintenance organization on receiving EUR 2,5 million financing for its activities through a set of loan agreements concluded with an Irish aviation company. The client has a EUR 20 million Investment Agreement with the Municipality of Šiauliai City on the development of the Šiauliai Airport (a project also recently handled by our law firm) and is planning to develop significantly the aviation business at the airport by investing millions of dollars in construction of aircraft maintenance and logistic hangars and develop other aviation businesses at the airport creating working places for hundreds of employees. For this purpose, the client has attracted additional financing from an Irish and Cyprus companies and the law firm has advised on this transaction, drafted the necessary supporting documentation, advised on possible capitalisation of the loan in the future, advised on compliance issues related with investments into strategic objects of state’s importance (airports). The construction has commenced and a local MRO is expected to start activity in 2023. 

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