Ethiopian Airlines closes first JOLCO in West Africa

On May 18, Ethiopian Airlines closed a Japanese Operating Lease with Call Option (JOLCO) to  finance one A350, which was newly-delivered to the airline. Crédit Agricole CIB acted as overall arranger and facility agent. BRED Banque Populaire, Crédit Agricle CIB, PK AirFinance were co-Lenders. PK AirFinance acted as Security Trustee. This is the first JOLCO closed on an aircraft in West Africa. This aircraft is the ninth A350 to join Ethiopian’s fleet. The airline ordered  24 A350XWBs in 2017.