Contact details

Michelle Runagall Orlic

T: +65 6622 9672 Email Michelle | vCard Office: Singapore

Awards

Next generation partner for Asset finance: Singapore

Next generation partner for Asset finance: Singapore

Airline Economics' 40 under 40 2016

Airline Economics' 40 under 40 2016

Rising Stars of Aviation 2015

Rising Stars of Aviation 2015

Michelle Runagall Orlic Of counsel

Contact details

Michelle Runagall Orlic

T: +65 6622 9672 Email Michelle | vCard Office: Singapore

Michelle is a finance lawyer specialising in the aviation sector. Michelle's adaptability and diversity of experience enables her to bring a variety of perspectives to clients' needs.
  • Profile
  • Services
  • Sectors

Michelle has extensive experience acting on cross-border aviation financing, acquisition and leasing matters. She has worked on a range of transactions in the aviation finance space including bilateral and syndicated commercial financings, export credit agency-guaranteed financings, novations, refinancings, capital markets issuances, OEM contracts, sale and leaseback transactions, private jet acquisitions and financings, helicopter financings and tax-structured leasing products. She advises regularly on Cape Town Convention matters, security and insolvency issues relevant to aviation transactions, and was a contributing author to Aircraft Financing, 4th Edition, published by Euromoney.

While she has focused on the aviation sector, Michelle has also worked on general banking and structured finance transactions, principally in the transportation sector. Throughout her career Michelle has represented international financial institutions, export credit agencies, lessors and operators across Europe, Asia and North America. Clients value her straightforward, collaborative and solutions-oriented approach.

“Michelle Runagall-Orlić is a key name for cross-border aviation financing, acquisition and leasing transactions.” 

The Legal 500 Asia Pacific 2020

  • Aviation finance
  • Finance

Commercial financing

Acting for financial institutions and arrangers on cross-border commercial debt financing transactions. In recent years, Michelle advised DVB Bank SE Singapore Branch and BNP Paribas Singapore on a number of commercial aircraft financings, including DVB's financing of the first aircraft portfolio acquisition by the ST Aerospace group. Michelle has also advised Korean arrangers on a number of financings of widebody aircraft on lease to Middle-Eastern operators. She most recently advised Mirae Asset Global Investments on the KEB Hana financing of its acquisition of a portfolio of aircraft from ICBC and GECAS on lease to China Airlines.

Aircraft leasing

Acting for airlines and lessors on aircraft operating lease transactions, lease novations and restructurings.  Recently, Michelle has acted for the AirAsia group, Cebu Pacific, and the Lion Air group as lessees in a variety of finance lease, operating lease and JOLCO transactions. Michelle has also acted for Avation plc and Transportation Partners as lessors on a number of operating lease transactions, including Transportation Partners' leasing of an ATR72-500 aircraft to Brazilian operator Azul, and Avation's lease of an ATR72-500 aircraft to its first Indian operator, Alliance Air.

Aircraft acquisitions

Representing airlines on the negotiation of purchase orders for Airbus and Boeing aircraft and Pratt & Whitney engines as well as advising lessors on the acquisition of new and midlife aircraft. Michelle was part of the team which acted for Lion Air on the negotiation and execution of the purchase agreement for 234 A320 and A321 aircraft from Airbus valued at US$24 billion.

Capital markets

Advising airlines on the issuance of bonds in the United States capital markets. Michelle has advised two airlines and their respective issuers on each of their United States Export-Import Bank guaranteed bond financings of B737-900ER aircraft, each of which were subscribed in the US capital markets.

Export credit agency financing

Acting for export credit agencies and airlines on the provision or guarantee of debt facilities and bonds for the financing of new aircraft. Michelle has advised Export Development Canada on the financing of a number of helicopter portfolios for charter in Europe, North America and Australia. Michelle has also acted for the Lion Air group on a number of its United States Export-Import Bank guaranteed financings.

Private jets and helicopters

Acting for corporations and high net worth individuals on the acquisition, financing and chartering of private jets and helicopters as well as advising aircraft managers on operational and management arrangements.

More: Aviation finance

Commercial financing

Acting for financial institutions and arrangers on cross-border commercial debt financing transactions. In recent years, Michelle advised DVB Bank SE Singapore Branch and BNP Paribas Singapore on a number of commercial aircraft financings, including DVB's financing of the first aircraft portfolio acquisition by the ST Aerospace group. Michelle has also advised Korean arrangers on a number of financings of widebody aircraft on lease to Middle-Eastern operators. She most recently advised Mirae Asset Global Investments on the KEB Hana financing of its acquisition of a portfolio of aircraft from ICBC and GECAS on lease to China Airlines.

Capital markets

Advising airlines on the issuance of bonds in the United States capital markets. Michelle has advised two airlines and their respective issuers on each of their United States Export-Import Bank guaranteed bond financings of B737-900ER aircraft, each of which were subscribed in the US capital markets. Michelle has also advised corporates in Hong Kong on private placements for general corporate financing purposes.

Export credit agency financing

Acting for export credit agencies and airlines on the provision or guarantee of debt facilities and bonds for the financing of new aircraft. Michelle has advised Export Development Canada on the financing of a number of helicopter portfolios for charter in Europe, North America and Australia. Michelle has also acted for the Lion Air group on a number of its United States Export-Import Bank guaranteed financings.

More: Finance
  • Aviation
  • Banks and banking

Commercial financing

Acting for financial institutions and arrangers on cross-border commercial debt financing transactions. In recent years, Michelle advised DVB Bank SE Singapore Branch and BNP Paribas Singapore on a number of commercial aircraft financings, including DVB's financing of the first aircraft portfolio acquisition by the ST Aerospace group. Michelle has also advised Korean arrangers on a number of financings of widebody aircraft on lease to Middle-Eastern operators. She most recently advised Mirae Asset Global Investments on the KEB Hana financing of its acquisition of a portfolio of aircraft from ICBC and GECAS on lease to China Airlines.

Aircraft leasing

Acting for airlines and lessors on aircraft operating lease transactions, lease novations and restructurings. Recently, Michelle has acted for the AirAsia group, Cebu Pacific, and the Lion Air group as lessees in a variety of finance lease, operating lease and JOLCO transactions. Michelle has also acted for Avation plc and Transportation Partners as lessors on a number of operating lease transactions, including Transportation Partners' leasing of an ATR72-500 aircraft to Brazilian operator Azul, and Avation's lease of an ATR72-500 aircraft to its first Indian operator, Alliance Air.

Aircraft acquisitions

Representing airlines on the negotiation of purchase orders for Airbus and Boeing aircraft and Pratt & Whitney engines as well as advising lessors on the acquisition of new and midlife aircraft. Michelle was part of the team which acted for Lion Air on the negotiation and execution of the purchase agreement for 234 A320 and A321 aircraft from Airbus valued at US$24 billion.

Capital markets

Advising airlines on the issuance of bonds in the United States capital markets. Michelle has advised two airlines and their respective issuers on each of their United States Export-Import Bank guaranteed bond financings of B737-900ER aircraft, each of which were subscribed in the US capital markets. Michelle has also advised corporates in Hong Kong on private placements for general corporate financing purposes.

Export credit agency financing

Acting for export credit agencies and airlines on the provision or guarantee of debt facilities and bonds for the financing of new aircraft. Michelle has advised Export Development Canada on the financing of a number of helicopter portfolios for charter in Europe, North America and Australia. Michelle has also acted for the Lion Air group on a number of its United States Export-Import Bank guaranteed financings.

Private jets and helicopters

Acting for corporations and high net worth individuals on the acquisition, financing and chartering of private jets and helicopters as well as advising aircraft managers on operational and management arrangements.

More: Aviation

Banking and structured finance

Acting for financial institutions and arrangers on cross-border commercial debt financing transactions. Most recently, Michelle has advised DVB Bank SE Singapore Branch and BNP Paribas Singapore on a number of commercial aircraft financings, including DVB's financing of the first aircraft portfolio acquisition by the ST Aerospace group. Michelle has also recently advised Korean arrangers on a number of financings of widebody aircraft on lease to Middle-Eastern operators.

More: Banks and banking

Awards

Next generation partner for Asset finance: Singapore

Next generation partner for Asset finance: Singapore

Airline Economics' 40 under 40 2016

Airline Economics' 40 under 40 2016

Rising Stars of Aviation 2015

Rising Stars of Aviation 2015

Latest news & insights

20 Dec 2019

From News

Stephenson Harwood advises Mirae on US$450 million financing

Stephenson Harwood (Singapore) Alliance has advised Mirae Asset Securities (HK) Limited on a US$450 million acquisition and financing of three Boeing 777 aircraft.

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