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UK

Mario Jacovides

Partner

England & Wales

020 3319 3700

Mario.Jacovides@keystonelaw.co.uk

Mario has specialised in asset finance and leasing transactions for over 30 years with particular expertise in the aviation, defence, and satellites sectors.

His clients include banks, lessors, airlines, manufacturers, sovereigns, and ECAs across a whole spectrum of aviation deals including aircraft procurement, operating leasing, Japanese operating leases, finance leases, UK tax leases, French tax leases, debt financing, pre-delivery financings, Islamic leases, Gift City financings, BNDES supported financings, EETCs, bonds, manufacturer support, and export credit transactions. Mario has extensive experience in the satellite sector, including in project finance satellite constellation financings.

Expertise

Mario structures and negotiates aircraft operating, finance, and Islamic leases, acting for banks, lessors, and airlines on cross-border leasing arrangements covering both new deliveries and mid-life aircraft.

Experience

  • Acted for Bpifrance on a number of ECA-backed leases of Airbus A380 aircraft for Emirates.
  • Acted for a Middle East lender on Islamic Ijara lease financing of two Boeing 737 MAX 8 aircraft for FlyDubai.
  • Acted for European lessors on operating leases of Airbus A320 family aircraft to EasyJet.
  • Acted for a European bank on finance lease structures for ATR 72 aircraft to Nordic Airlines.
  • Acted for Indigo Airlines on numerous leasing structures through Gift City to finance its A320/21 family aircraft with various financial institutions.

Mario has significant experience in international tax-based leasing, including Japanese, UK, and French tax lease structures for commercial aircraft, advising on structuring, risk allocation, and long-term financing optimisation.

Experience

  • Acted for Japanese investors on a JOLCO financing of Boeing 777-300ER aircraft for Cathay Pacific.
  • Acted for UK lessors on tax lease arrangements for Airbus A350 aircraft for British Airways.
  • Acted for French banks on French tax leases for Airbus A320neo aircraft for Air France.
  • Advised an Asian ECA on interaction between export credit support and tax-advantaged leasing.

Mario advises on all aspects of aviation finance, including debt, pre-delivery, export credit, and EETC structures, working with banks, ECAs, and sovereigns on complex cross-border financings.

Experience

  • Acted for European lenders on a PDP financing of twelve aircraft for Czech Airlines.
  • Acted for Bpifrance on export credit-supported financing of a number of Airbus A380 aircraft for Emirates.
  • Acted for a syndicate of lenders in a US$750 million limited recourse warehouse facility for an operating lessor.
  • Advised Priority 1 on its inaugural Norwegian Bond Financing for the purchase of shares in European Cargo Limited.

Mario has extensive experience advising satellite operators, lenders, and ECAs on export credit and project financings for LEO and MEO constellations and sovereign-backed defence satellite programmes.

Experience

  • Acted for Telesat Lightspeed on export credit-backed and debt financing of a 298-LEO constellation.
  • Acted for Measat on export credit-backed financing of Measat-3d satellite.
  • Acted for O3b Networks Limited and Bpifrance on US$1 billion ECA-backed financing of a MEO constellation.
  • Acted for the lenders to OneWeb on a US$4 billion project financing of 882 LEO satellites.
  • Acted for the State of Qatar Ministry of Defence on a multi-billion UKEF-backed financing of 24 Typhoon aircraft.

Please note: The experience list above may include examples of work completed prior to joining Keystone Law.

Recognition

Recognised by The Legal 500 for Aviation 2025-2026

Recognised by Best Lawyers (UK) for Asset Finance 2025

Legends Award for exemplary leadership and innovative contributions to the aviation community by Airline Economics 2024

Member of The Expert Witness Institute

“He is extremely commercial and practical and never misses a trick on documentation.”

Chambers Global 2015

Mario qualified as a solicitor in 1989. Prior to joining Keystone Law in 2024, he worked at the following firms:

  • Allen & Overy
  • Wilde Sapte (now known as Dentons)