Milbank LLP represented Apollo Global Management (NYSE: APO) in connection with an agreement for Apollo-managed funds and affiliated entities to make a €500 million investment into an Air France affiliate owning a pool of components dedicated to the airline’s Engineering and Maintenance activities. Air France is a fully owned subsidiary of Air France-KLM (PAR: AF FP). The bespoke transaction, part of Apollo’s high-grade partnerships, will provide one of the world’s leading airlines with a custom capital solution to further strengthen its balance sheet and support the future purchase of components related to maintenance activities. This is the second transaction between Apollo and Air France-KLM within a year, with Apollo funds, affiliates and clients committing €1 billion in total. The Milbank team was led by Drew Fine, the chair of Milbank’s Transportation & Space and Finance practices, Global Corporate/M&A partner and co-head of Milbank’s Global Infrastructure practice John Franchini, Transportation & Space partner Freyda Mechlowicz, Global Project, Energy and Infrastructure Finance partner Sean O’Neill, Global Tax partner and practice group leader Eschi Rahimi-Laridjani, Global Tax partner Max Goodman, and Global Corporate/M&A special counsel Daniel Tyrrell, along with Transportation & Space associates Jeff Kaplan, Ariella Stepanian and Michael Gibbons, Global Corporate/M&A associate Mary Margaret Meehan, Global Project, Energy and Infrastructure Finance associates Derrik Sweeney and Yuman Xu, and Global Tax associate Michael Rivkin.