Azorra Acquires 12 Airbus A220-300s from EGYPTAIR with Legal Counsel from Matouk Bassiouny & Hennawy
Azorra Acquires 12 Airbus A220-300s from EGYPTAIR with Legal Counsel from Matouk Bassiouny & Hennawy
Matouk Bassiouny & Hennawy (MBH), a leading Egyptian law firm, announced its successful representation of Azorra, an aircraft leasing company, in its acquisition of 12 Airbus A220-300s from EGYPTAIR. This significant transaction, finalised on February 1, 2024, marks a major step forward for both companies and contributes to the ongoing transformation of the Egyptian aviation industry.
The acquisition aligns with Azorra's strategic goals to support EGYPTAIR's fleet modernisation efforts and expand its passenger services. These 12 fuel-efficient A220-300s, ranging in age from three to four years, are a valuable addition to Azorra's existing A220 portfolio and are already allocated to airline customers worldwide.
Sherif El Hosseny, Partner and Head of Aviation at MBH, expressed the firm's pride in facilitating this landmark deal. "This acquisition represents a significant milestone for the Egyptian aviation industry," he stated. "We are confident it will pave the way for further growth and development in this crucial sector." El Hosseny emphasised MBH's commitment to supporting major transactions within the Egyptian market and expressed their anticipation for "concluding more transactions of such magnitude in the future."
The MBH team led by El Hosseny, included Associate Nourhane Hamdy, provided comprehensive legal counsel throughout the acquisition process, ensuring a smooth and successful outcome for Azorra. Their expertise in aviation law and understanding of the Egyptian market played a key role in navigating the complexities of the transaction.
