FW AVIATION (HOLDINGS) 1 LTD V VIETJET AVIATION JOINT STOCK COMPANY

[2025] EWHC 928 (Comm), King's Bench Division, Commercial Court, Mr Justice Picken, 17 April 2025

Aviation – Clause providing for payment on termination – Whether clause a penalty – Right of possession following termination

An agreement was made concerning the lease of an aircraft, clause 19.3(a) of which contemplated that the lessee would exercise an option to purchase, provided that on termination in the event of default the lessee VietJet was to pay the lessor "the A Line Termination Value as at the Termination Date”.