Eversheds extends multi-million pound IATA contract

Eversheds has landed a multi-million pound contract with the International Air Transport Association (IATA) that has expanded to include Europe, North Asia and the Asia Pacific.

The deal means that Eversheds is now the primary legal adviser to IATA in 158 countries, having added 93 to its previous contract with the client.

The firm secured a three-year arrangement with IATA last April following a competitive process, which covered IATA’s business in Africa and the Middle East.

Under the initial contract, Eversheds had agreed to withhold 15% of fees which could then be paid as a discretionary bonus based on performance.

The extended contract has been adjusted so that 10% of fees will be retained, with a 10% bonus paid if the firm exceeds expectations.

IATA will assess Eversheds every April and October against a number of criteria including quality of work and predictability of pricing.

Eversheds’ head of global client development Stephen Hopkins will lead the relationship.

IATA general counsel Jeffrey Shane said: “We have high expectations of Eversheds. We have been impressed with the high quality and cost transparency of Eversheds’ services to IATA in Africa and the Middle East, and we look forward to further benefits as we extend the consolidation of our external legal support with Eversheds across three more important regions for our business.”

Hopkins added: “This is one of the largest global frameworks of its type in the legal sector. We will provide all legal services to 158 countries globally; this is no mean feat. Our relationship with IATA has been underpinned by consistent quality delivery, transparency and cost control.”

IATA has presences in 60 countries and represents 240 airlines across 113 countries, handling roughly $370bn (£221bn) of financial transactions in 2012.

Hopkins also holds the firm’s relationship with Tyco. The firm renewed its fixed-fee contract with the US manufacturer for the fourth time last April. The latest two-year deal, which has previously been reported as being worth around £13m, was agreed following the separation of Tyco and its Tyco Flow arm.