Turkish Airlines has closed an ECA-backed Japanese Operating Lease with Call Option (JOLCO) for two A330-300 delivered in November and December 2013. BNP Paribas is Lease Arranger, ECA Debt Arranger and Facility Agent
This transaction features Japanese Equity combined with a 12 year ECA Loan provided by Development Bank of Japan, 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 June-July for 2 A321, this is the second time ECA-backed Japanese tax structures are successfully closed for Turkish Airlines in 2013 and a total of seven aircraft financed under JOLCO structures arranged by BNP Paribas this year for Turkish Airlines.