British Airways issues second EETC; AirAsia enters digital payments arena

British Airways (BA) has launched its second enhanced equipment trust certificate (EETC) transaction, which also incorporates Japanese Operating Lease with Call Option (JOLCO) tax equity. The $608.74million EETC is offered in two tranches: $409.783 million class AA certificates with an initial loan-to-value (LTV) of 48.6%, which have been rated AA- by Fitch Ratings, and $198.957 million class A certificates with an initial LTV of 49.2%, rated A- by Fitch. Both tranches have a 13.5-year tenor and a weighted average life of 7.4 years. Both tranches will fully amortise and will not feature a balloon payment. According to Fitch Ratings, the