Turkish Airlines finance two A321-200s using ECA-backed JOLCOs

Victoria
By Victoria October 2, 2013 12:38

Turkish Airlines finance two A321-200s using ECA-backed JOLCOs

BNP Paribas is lease arranger, ECA debt arranger and facility agent of an ECA-backed Japanese Operating Lease with Call Option (JOLCO) for two A321-200s delivered in June and July 2013.

This transaction features Japanese equity combined with a 12-year ECA loan provided by Sumitomo Mitsui Trust Bank, fronted by Euler Hermes, the German Export Credit Agency, leading to a 100% financing for the airline at competitive costs.

After a first transaction in 2011, this is the second time ECA-backed Japanese tax structures are successfully closed for Turkish Airlines.

Turkish Airlines is the legacy flag carrier of Turkey and has been one of the fastest growing airlines worldwide in the past five years, accompanied by a proven track record of healthy financial and operational status. It is part of the Star Alliance since April 2008 with more than 220 aircraft in service.

Victoria
By Victoria October 2, 2013 12:38
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