Pegasus Airlines has converted three Japanese operating lease with call option (JOLCO) transactions into a sustainability-linked loan (SLL) structure.
“The SLL JOLCO structure reflects our commitment to reducing carbon emissions in line with Net Zero targets and advancing gender diversity within our organization. It marks an important step toward our long-term vision of sustainable growth and creating meaningful environmental and social impact.” said Barbaros Kubatoğlu, CFO of Pegasus Airlines.
The financing incorporates environmental and social key performance indicators (KPIs) across both loan and equity components and supports the delivery of three A321neo aircraft.
SMBC Group acted as sustainability coordinator and original lender.
Pegasus implemented its inaugural sustainability-linked financing framework, developed with SMBC Group as sole sustainability advisor in early 2025.