TC Represents Lender in One of Trade Finance Magazine’s 2005 Deals of the Year

Gerry Stoltz, a partner in the Transportation and International practice, recently represented lender BNP Paribas in its loan of $50 million to supply air traffic control equipment for Albania’s National Air Traffic Agency. The deal, the first of its kind in Albania, involved equipment that will triple the capacity for air flights over Albania and provide for continuing capacity increases. It will also help decrease flight times and fuel costs for airlines flying between north-western Europe and the eastern Mediterranean. The deal was highly unusual for Albania because it did not involve a sovereign guarantee but instead was secured by overflight fees paid by airlines flying in Albanian airspace.

The deal was named one of Trade Finance Magazine's 2005 Deals of the Year.

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