Shearman & Sterling is advising JetBlue Airways on the sale of its wholly owned subsidiary LiveTV to Thales Avionics for $400 million. The sale, which is subject to regulatory and other approvals, is expected to be completed in mid-2014.
JetBlue is a leading carrier in New York, Boston, Fort Lauderdale/Hollywood, Los Angeles/Long Beach, Orlando and San Juan. JetBlue carries 30 million customers a year to 82 cities in the US, the Caribbean and Latin America, with an average of 800 daily flights.
LiveTV is the world's leading provider of live in-flight entertainment and connectivity systems for commercial airlines. Founded in 1998 in Melbourne, Florida, LiveTV has maintenance and support locations around the world to serve the more than 700 aircraft equipped with its products.
Thales Avionics, Inc. is an affiliate of Thales Group, a global electronics company that serves aerospace, defense and information technology markets worldwide.
The Shearman & Sterling team included partner David Connolly and associates Joanna Si and Sue Kim (all New York-Mergers & Acquisitions), as well as partners Doreen Lilienfeld (New York-Compensation, Governance & ERISA), Michael Shulman (Washington, DC-Tax), and Beau Buffier (New York-Antitrust); counsel Jordan Altman (New York-Intellectual Property Transactions), Robert LaRussa (Washington, DC-International Trade & Investment), Jason Pratt (New York-Environmental), and Jeffrey Salinger (New York-Environmental); associates Gary Tashjian (New York-Compensation, Governance & ERISA); Michael Jokic (New York-Intellectual Property Transactions), Joshua Steinberger (New York-Intellectual Property Transactions), Derek Kershaw (New York-Tax), Laura Mulry (New York-Environmental), Karina Lubell (Washington, DC-Antitrust), Zach Shub-Essig, Aliahmed Hassanali, Monica Li, Andrew Shoals, and Samara Thomas (all New York-Corporate); and head of government relations Lisa Raisner (Washington, DC-Litigation).