Need for Operational Flexibility May Test Airlines’ Stakeholders in Restructurings
By David Simonds, Partner, and Faraz Naqvi, Counsel, Hogan Lovells & Jeremy Halford
In the wake of the COVID-19 pandemic, the surviving airlines have accelerated cost-cutting efforts, curtailed capital expenditures, and reduced their fleets. Arguably, airlines are in a much stronger operational position to cope with volatile operating environments. However, the highly uncertain...
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David Simonds is a partner with Hogan Lovells. For 30 years, he has advised on financial restructuring matters across numerous industries in the U.S. and abroad, representing distressed debt investors (including noteholders and lenders), creditors’ committees, financially troubled companies, special situations lenders, and acquirers of financially distressed businesses in out-of-court restructurings, liability management transactions, and Chapter 11 and other insolvency proceedings. Simonds is a member of the California and New York bars and holds a law degree from New York University School of Law.
Faraz Naqvi is a counsel in Hogan Lovells' London Asset Finance practice. He focuses on aviation, acting for lessors, banks, and airlines on a broad range of transaction types, including sale and leasebacks, operating leases, and restructurings. Naqvi is an aviation enthusiast and, as a result, has been recognized by leading operating lessors and airlines for his ability to negotiate complex provisions relating to aircraft technical matters. He has been named in Legal 500 since 2015.
Jeremy Halford is an experienced financial professional with 20 years of international financial experience advising, investing, and structuring deals with a wide range of companies. As an investment banker, he has advised unsecured creditors in complex cross border transactions and on the buy side, as an investment manager, he has invested and structured distressed financing deals on behalf of several investment firms. Halford holds a degree in economics from Northwestern University.
