ABL Aviation has completed another delivery of a new Airbus A321neo aircraft for Pegasus Airlines, on behalf of ABL Aviation’s Japanese partner, financed through a Japanese operating lease with call option (JOLCO) structure. This aircraft is the fourth A320neo Family unit delivered under the same structure to Pegasus.
The transaction follows an April 2020 deal also arranged by ABL Aviation for Pegasus Airlines. Closed at the height of the COVID-19 pandemic, the transaction marked the industry’s first ever 100% remote delivery of an aircraft.
Commenting, Ali Ben Lmadani, chief executive of ABL Aviation, said: “This fourth transaction reflects our strong partnership with Pegasus and demonstrates our commitment to creating tailored solutions and financing environmentally friendly new generation Airbus NEO aircraft to support our customers’ growth targets.”
Tamer Yüzüak, EVP finance and fleet management of Pegasus Airlines, said that he was pleased to expand the relationship with ABL Aviation “during tough times and good times”.
“Pegasus Airlines will continue to diversify its financing resources in favour of the new technology and environmentally friendly Airbus NEO family aircraft,” he said. “We are now operating 97 aircraft as of today, almost 75% of our fleet consisting of new technology CFM LEAP-1A powered A320neo family aircraft. We are among the leading airlines that adopted IATA’s “2050 Net Zero Carbon Emissions”, our commitment to grow with environmental friendly new generation Airbus NEO Aircraft family aircraft also contributes to achieve our targets to “Fly Net Zero”.”
The A321neo delivers 20% fuel cost savings and nearly a 50% reduction in noise footprint compared to previous generation aircraft, helping Pegasus to meet its sustainability targets, including zero net CO2 emissions by 2050.