BBAM Limited Partnership (BBAM), alongside its long-term partner Nomura Babcock & Brown Co., (NBB), have closed a Japanese operating lease with call option (JOLCO) transaction with British Airways for an A350-1000. This is the first JOLCO closing in a US$1.12 billion transaction combining senior secured enhanced equipment trust certificates (EETC) and JOLCO equity in relation to a number of new-generation British Airways-operated aircraft.
The transaction will provide financing for six A350-1000 aircraft and two A320neo aircraft. The deal allows the aircraft to be financed by the proceeds from the British Airways 2019-1 EETC certificates and JOLCO equity arranged by NBB and BBAM.
