Three Airbus A350 aircraft that joined the flag carrier’s fleet between May and July 2024 are financed in Chinese Yuan by AVIC International Leasing and CCB Financial Leasing.

On its success journey from boutique to the top, Turkish Airlines continues to grow in the Chinese market by increasing flight frequencies and several collaborations with valued partners in the region. By working with leading aircraft financiers in the Chinese market, global airline is also enriching its financing portfolio in terms of both currency and geography.

Upon the closing of these transactions, Turkish Airlines Chairman of the Board and Executive Committee, Prof. Ahmet Bolat stated; “As Turkish Airlines, we have added another achievement to our successes in aircraft financing by becoming the first airline to secure aircraft financing in Chinese Yuan outside of China. By adding the fifth currency to the variety of currencies used in aircraft financing, we do not only support our currency hedging strategies but also focus on keeping our financing cost at the minimum levels. Our Chinese business partners’ interest and support to this transaction, which was never used outside China before, is an indicator of the mutual trust between the parties as well as the collaboration between our countries. We aim to continue being a pioneer in the market by adding new structures to these successful and innovative financings in the future.

With its experienced aircraft financing team, Turkish Airlines has not only achieved one of the lowest financing costs in multiple currencies in the airline industry but has also been recognized annually with various financing awards from globally renowned organizations such as Global Transport Finance, Airline Economics, Airfinance Journal, and Bonds, Loans & Sukuk. These recognitions are a result of employing innovative financing models, many of which were groundbreaking in the industry. Turkish Airlines has crowned its success in this regard, having won over 30 international aircraft finance awards in the last ten years for its successful executions amounting to approximately 16 billion USD.

Turkish Airlines, which distinguished itself as one of the most successful airlines in the world during the pandemic period with its strong financial management approach and financial structure, and achieved the fastest rise after the pandemic with the efforts of all its employees, continues to be a leading carrier in global aviation industry with its financial decision making.

Flag carrier received awards in three different categories at the thirteenth annual “Airline Economics Aviation 100” award ceremony held in Dublin on 29th January, which aims to reward the most innovative and outstanding transactions worldwide in aviation finance.

Representing the national flag carrier at the awards ceremony, Turkish Airlines’ Member of the Board and the Executive Committee and Chief Financial Officer, Assoc. Prof. Murat Şeker said; “First of all, I would like to thank Airline Economics on behalf of Turkish Airlines family. As an airline, financing yearly around 1,8 billion worth of aircraft with various innovative structures, we are happy to receive these awards in three categories which showcases the success of Turkish Airlines in the field of aircraft finance.”

The national flag carrier of Türkiye has been awarded by Airline Economics for three separate transactions involving different financing parties which in total account for a total financing amount of around $900 million for the acquisition of eight new generation aircraft. Each award together with the corresponding transaction and relevant parties are as follows:

Global Lease Deal of the Year

USEXIM Bank supported French Tax Lease with Natixis as Lender and Facility Agent, JP Morgan as Lender and BPCE as Lessor Parent for three B787 aircraft.

JOLCO Deal of the Year

European Export Credit Agency supported multicurrency JOLCO with HSBC as Lender and Debt Arranger, ABL Aviation as Equity Arranger for two A350 aircraft.

Supported Finance Deal of the Year

A first-of-its-kind Itasca Re Insurance Covered Financing with Crédit Agricole CIB as Lender and Arranger, ING Capital LLC as Lender for three A321 NEO aircraft.

Turkish Airlines aircraft financing team achieves one of the lowest financing costs in the airline industry with its experienced staff who has a comprehensive knowledge on a large array of aircraft financing structures. The global brand has been deemed worthy of different financing awards every year by world-renowned organizations such as ‘Global Transport Finance’ and ‘Airline Economics’, ‘Airfinance Journal’, and ‘Bonds, Loans & Sukuk Turkey’ with its creative financing models, many of which have been implemented for the first time, since 2009. Turkish Airlines has crowned its success in this regard, as having won 29 international aircraft finance awards in the last ten years for its successful executions amounting to approximately 16 billion USD.

Previous Awards

2023 Airline Economics – Asia-Pacific Lease of the Year
2022 Airfinance Journal – Europe Deal of the Year
2022 Airfinance Journal – Structured Lease Deal of the Year
2022 Airline Economics – Global Lease Deal of the Year Award
2022 Airline Economics – European Lease Deal of the Year
2020 Airline Economics – Lease Deal of the Year (Europe)
2020 Airline Economics – Supported Finance Deal of the Year (Europe)
2019 Bonds, Loans and Sukuk – Transport Finance Deal of the Year (Middle East)
2019 Airline Economics – Supported Finance Deal of the Year
2018 Airline Economics – Lease Deal of the Year
2018 Global Transport Finance – Tax Lease Deal of the Year
2018 Bonds, Loans and Sukuk – Transport Finance Deal of the Year (Middle East)
2017 Airfinance Journal – Tax Lease Deal of the Year
2017 Global Transport Finance – Unique Deal of the Year
2017 Bonds, Loans and Sukuk – Trade & Export Finance Deal of the Year (Middle East)
2017 Bonds, Loans and Sukuk – Transport Finance Deal of the Year (Middle East)
2017 Bonds, Loans and Sukuk – Structured Finance Deal of the Year (Middle East)
2015 Airfinance Journal – Capital Markets Deal of the Year
2015 Airfinance Journal – Tax Lease Deal of the Year
2015 Airline Economics – Editor’s Deal of the Year
2015 Airline Economics – European Deal of the Year
2015 Global Transport Finance – EETC Deal of the Year (Europe)
2015 Bonds, Loans and Sukuk – Trade & Export Finance Deal of the Year (Middle East)
2015 Airfinance Journal – Engine Deal of the Year
2014 Airfinance Journal – Tax Lease Deal of the Year
2014 Bonds, Loans and Sukuk – Structured Finance Deal of the Year (Middle East)

Innovations
The first ever Itasca Re Insurance Covered Finance Lease (2023)
The first ever ACG Aircraft Financing Solutions (AFS) guaranteed Italian tax lease (2021)
The first ever UKEF guaranteed French tax lease (2020)
The first ever ACG Aircraft Financing Solutions (AFS) guaranteed finance lease (2019)
The first ever BALTHAZAR guaranteed French tax Lease (2019)
The first ever AFIC guaranteed Italian tax lease (2018)
The first ever SACE guaranteed French tax lease (2018)
The first ever AFIC guaranteed French tax lease (2017)
The first ever JPY denominated EETC JOLCO (2015)
The first ever US Ex-Im guaranteed French Tax Lease (2015)
The first ever EECA guaranteed Italian tax lease (2014)
The first ever Bond Convertible JPY Ex-Im guaranteed engine lease (2014)
The first ever EECA guaranteed Italian Tax Lease in JPY denomination (2014)
The first ever US Ex-Im guaranteed JPY denominated Convertible Bond (2013)
The first ever EECA guaranteed JOLCO Lease (2011)