Procopio Client, California Pacific Airlines, Takes Delivery of First Aircraft
Procopio partner John P. Cleary has worked with California Pacific Airlines since its inception, leading the company’s capital raising efforts and providing general corporate counsel. Partner Sandra L. Shippey and associate Jessica L. Swift handled the negotiation and closing of the transaction for delivery of the aircraft. The closing of the aircraft delivery under its lease arrangement with ECC Leasing, the financing arm of Embraer, occurred on July 2, 2012. Shippey and Swift helped California Pacific Airlines fulfill all of its conditions precedent in the lease documents in order to take delivery of the aircraft. California Pacific Airlines is headquartered in Carlsbad near McClellan-Palomar Airport and it intends to provide commercial airliner service to North County residents who would otherwise have to travel to Lindbergh Field in San Diego. The company is in the process of being certified by the Federal Aviation Administration as an air carrier and, once certified, it hopes to begin flights later this year to Las Vegas, Sacramento, San Jose, Oakland, Phoenix, and later it plans to add flights to Cabo San Lucas.
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