Debevoise & Plimpton LLP has advised JetBlue Airways Corporation (“JetBlue”) in a delayed draw term loan credit facility of up to $1 billion. The term loan is secured by 24 aircraft and 37 spare engines and proceeds will be used to pay certain transaction fees and expenses and for general corporate purposes. Morgan Stanley Senior Funding, Inc. is the administrative agent. The size of the facility makes it one of the largest financings in the aviation industry this year.
JetBlue is New York's Hometown Airline, and a leading carrier in Boston, Fort Lauderdale-Hollywood, Los Angeles (Long Beach), Orlando and San Juan. JetBlue carries more than 42 million customers a year to nearly 100 cities in the United States, Caribbean and Latin America with an average of more than 1,000 daily flights.
The Debevoise team was led by finance partner Paul Brusiloff and included finance associates Victoria Brown, Robert Gucwa and Sebastian Ruiz.