About

What are the most important transactions and litigations that you have been involved in during the last two years?

I have been involved in various Aircraft Financing Leasing Transactions in recent years those are including:

• Yamasa Sangyo Aircraft Finance Jolco structure combination of debt (secured commercial syndicated loan) and equity funding.2015 Bonds & Loans Awards Turkey 2015 –Structured Finance Deal of the Year –July 2015.
• SunExpress US Ex-Im French Lease of five 737-800 Aircraft financing_
• 2016 AirFinance Journal Awards –Export Credit Deal of the Year 2016.
• Debut SACE guaranteed financing for Boeing aircraft –
• 2017 Airline Economics Awards – European Debt Deal of the Year –

What will be the main focus for the company in the next 12 months and how do you intend to assist with this?

I believe that like all other companies to grow systematically and firmly and to make a profit. In order to do this, the legal infrastructure needs to be built on solid bases and I believe that the legal has lots of duties to achieve this result.

How do you suggest in-house lawyers build strong relationships with business partners?

In-House lawyers generally assist the other internal units within the company from the legal point of view and do not directly get in touch with the business partners of the company.

What “legal tech” products do you currently utilise, and do you foresee implementing more of these in the near future?

Practical Law, Sinerji, Kazancı

What do you feel are the most effective techniques for getting the most out of external counsel, in terms of how to instruct them?

Teamwork is the most effective way to work closely and be successful.

FOCUS ON: The in-house legal role in Aviation

It was once thought that the role of an in-house legal counsel was merely to avoid the legal risks associated with the business, but I believe that this thought has changed and now in-house legal counsel is required to understand problems related with the business that they work and find practical and concrete solutions from the legal point of view to be influential within the company. Having this role as an in-house legal counsel, you have to manage the business pressure on you and also effectively communicate the legal issues and associated risks, and effectively transmit these issues to the management level. This achievement clearly proves that in-house legal counsel assists the management in making strategic decisions based on the legal analysis. In order to add value to the business and to be successful as in-house legal counsel, you also need to be a good management skill and must have an excellent and very good coordinated legal team.

Becoming an in-house legal counsel in the aviation sector requires to consider and carefully follow many legal issues related to aviation. It covers a wide range of areas including leasing, maintenance, corporate, security, safety, ground handling, consumer, competition, and litigation.

One of the most important areas that in-house legal counsel should be considered is the leasing of the Aircraft and assist the other business units to have the Aircraft in operation on a timely base. To being achieved this goal, the aircraft lease contract negotiations and continuation of the process are of utmost importance and should be carried out without any legal obstacles. Rather than meeting the requirement of international regulations on a contractual basis, as in-house legal counsel, you must also follow and make sure that the requirements of the local regulations are met on a contractual basis. In addition to protecting the legal interests of the company, all the complex process and any required documentation must be carried out in a smooth and timely manner.

If we look at an Aircraft Leasing more specifically, Aircraft leases are generally classified as being an operating lease on the one hand and a finance lease on the other hand. The main difference between the operating lease and the finance lease is that with an operating lease, the lessor/owner is expecting to receive the aircraft back on its possession while it still has a useful economic life; and with the finance lease, the lessor/owner does not expect to retake possession of the Aircraft at the end of the lease term and the lessee acquires the ownership of the Aircraft. Having a financial lease arrangement in Turkey is more beneficial for Airlines than having an operating lease arrangement due to the various tax benefits under the applicable law as a result of having the financial lease arrangement.

The principles and procedures relating to financial leasing contracts are regulated under the Financial Leasing, Factoring And Financing Companies Law number 6361, published in the Official Gazette dated December 13, 2012. (“Financial Leasing Law”). Pursuant to the Financial Leasing Law, cross border leasing transactions from abroad at least two (2) years based on the financial leasing contracts are deemed as financial leasing within the scope of this Financial Leasing Law without being subject to any limitations defined in the Financial Leasing Law. Such as, transferring the possession of an Aircraft by the lessor authorised pursuant to this Financial Leasing Law or any applicable legislation to the lessee is not required at the end of the lease term. As mentioned, in order to benefit Financial Leasing Law, inter alia, the aircraft lease contract should be executed at least two years term and the Lessor shall hold the ownership of the subject Aircraft during the lease term. In addition, a financial leasing contract to be made out of Turkey shall be required to be registered by the Association of Financial Leasing, Factoring and Financing Companies. The principles and procedures regarding the registration of financial lease contracts that are covering financial leases of legal persons residing abroad to legal persons residing in Turkey are determined in the Circular On Registration Of Financial Lease Contracts Covering Financial Leases Of Legal Persons Residing Abroad To Legal Persons Residing In Turkey.

Apart from the regulatory requirement and documentation, as in-house legal counsel, you have to consider and pay great attention to each term and conditions of the aircraft lease contracts and its required processes.