Turkish Airlines has successfully closed a landmark financing transaction for the delivery of two brand-new Airbus A350-900 aircraft, further expanding its growing fleet.
The deal combines Itasca’s insurance-backed financing with a Japanese Operating Lease with Call Option (JOLCO) structure, introducing an innovative model to the airline’s diverse financing portfolio.
The transaction was completed in collaboration with leading international partners. Bank of China served as the sole lender and facility agent, while JP Lease arranged and underwrote the JOLCO equity.
This marks Turkish Airlines’ first Itasca JOLCO deal, as well as the first aircraft financing transaction involving Bank of China, JP Lease and Türkiye’s national flag carrier.
“This milestone transaction not only reflects the confidence of our international financial partners but also demonstrates Turkish Airlines’ commitment to diversifying its funding sources through innovative and sustainable financing structures,” said Murat Şeker, chief financial officer.
Meanwhile, AJet, a subsidiary of Turkish Airlines, has announced the addition of two new Boeing 737-8 MAX aircraft to its fleet.
According to the company’s statement, a delivery ceremony was held at Boeing’s production facility in Seattle, with the participation of AJet executives.
After a 13-hour flight from the U.S., the aircraft arrived in Türkiye and were placed in the hangar.
AJet plans to add 37 more Boeing 737-MAX aircraft to its fleet next year, with the goal of ensuring that 76 percent of its fleet consists of new-generation aircraft.
