THY has completed the financing for two new A350-900 aircraft.

Turkish Airlines Expands Fleet with New Financing Agreement

Turkish Airlines (THY) has successfully completed the financing of two A350-900 aircraft by combining a financial leasing model with innovative insurance products. According to THY's announcement, this new financing model stands out as JOLCO (Japanese Operating Lease with Call Option) financing supported by Itasca insurance guarantee.

Financing Process and Partners

The financing agreement was executed with Bank of China as the sole lender. Japanese equity was provided by JP Lease. This process marks THY’s first JOLCO agreement made with Itasca.

Statements from THY's Deputy General Manager

THY Deputy General Manager Assoc. Prof. Dr. Murat Şeker highlighted the importance of this innovative financing model, stating, “We are pleased to complete this significant transaction that reflects the trust of our international business partners.” Şeker also thanked Bank of China and JP Lease, emphasizing, “While supporting our fleet expansion strategy, we continue to strengthen our global partnerships.”

Comments from International Business Partners

Bank of China Head of Transport Sector in London Arnaud Fiscel expressed great pleasure in supporting THY in the financing of the A350-900 aircraft. JP Lease General Manager Teiji Ishikawa emphasized that this demonstrates the strong relationships with the Turkish aviation sector.

Itasca CEO Gareth John highlighted the strength and versatility of financing platforms with this transaction, stating, “This JOLCO financing reinforces our commitment to providing efficient and competitive financing structures in the aviation sector.”