Turkish Airlines scoop 2 awards
What you need to know:
The structure was arranged by Credit Agricole CIB, one of the largest French banks, where tax leverage is achieved together with a competitive loan.
Dar es Salaam. Turkish Airlines has won the “Lease Deal of the Year Award” at the Airline Economics Aviation 100 Global Leaders Awards, and the “Aircraft Tax Lease of the Year” at the Global Transport Finance Gala Awards held recently in Dublin.
A statement issued by the airline in Dar es Salaam says the award recorgnised the airline for financing its brand new B777-Freighter aircraft delivered in November 2018, with a total financing amount of 110 million Euros. The structure is an innovative, complex and unique French Tax Lease.
Turkish Airlines chief financial officer (CFO), Murat Şeker was quoted in a statement saying; “We’re delighted to receive the awards which crowned the rising graph that we have drawn in the field of aircraft finance especially in recent years.”
He added: “While continuing our works in order to further improve this performance, we are proud to be accelerating the rising global reputation and brand value of Turkish Airlines at this point as well.”
The structure was arranged by Credit Agricole CIB, one of the largest French banks, where tax leverage is achieved together with a competitive loan.
provided by ICBC Financial Leasing Co., Ltd., subsidiary of one of the largest Chinese banks, leading to a low cost of financing for the subject aircraft.
Turkish Airlines has tapped the Chinese market in 2016, achieving a steady growth in this market with a financing amount of up to $1.3 billion as of today.
Turkish Airlines has mandated another 14 aircraft to be delivered in 2019 with a value of $750 million to Chinese banks and lessors.
