UK Military Flying Training System (Affinity/Ascent)

8/2/2016
Joint venture, PPP, Project development, Project finance

£ 500 million

$ 722 million

Announced

8/2/2016


Overview:

  • The UK Ministry of Defence has undertaken a public-private partnership (PPP) to develop a new military flying training system.
  • Ascent Flight Training is a joint venture between Babcock and Lockheed Martin and is required to provide a new aircraft training system.
  • Affinity is a Kellogg Brown & Root and Elbit Systems joint venture and will be required to deliver three fleets of fixed wing training aircraft and related infrastructure.

Sam Duke - Editor

Jurisdiction:

United Kingdom

Deal types:

Joint venture
PPP
Project development
Project finance

Practice areas:

Project finance
Project development
PPP/PFI

Governing law:

England and Wales

Industry sectors:

Technology and telecommunications
Aviation


Firms:

Party: The Bank of Tokyo-Mitsubishi UFJ (Lender)

Party: Crédit Agricole (Lender)

Party: Sumitomo Mitsui Banking Corporation (Lender)

Party: Helaba (Lender)

Lawyer: Philip Vernon


Party: Ascent Flight Training Management (Project developer)


Party: Affinity (Project developer)


Party: UK Ministry of Defence (Project developer, Concessionaire)

Lawyer: Richard Dyton