About TK01 Istanbul (IST) – New York (JFK) Flight

Published on : Tuesday, March 19, 2019

Turkish Airlines, being among the most innovative airlines in aircraft financing, became the first airline to use the brand new insurance-backed aircraft financing product “Balthazar” combined with French lease, with the financing of its A321 NEO aircraft arranged by BNP Paribas.

 

The product was developed by Airbus with the cooperation of an insurance consortium consisting of several highly-rated insurance companies to address the need of new products in the aircraft financing market. Turkish Airlines successfully combined a French lease advantage in this 12-year transaction together with insurance cover, leading to an innovative and cost-effective product that contributed significantly to the overall competitiveness of its aircraft financing portfolio.

 

BNP Paribas, a leading bank in aircraft financing with an international reach and a long-term financing partner of Turkish Airlines, committed a financing amount of up to 225 million USD for five A321 NEO aircraft to be delivered in 2019. In managing a large number of stakeholders and under various roles, BNP Paribas played an instrumental role in handling this first-of-a-kind transaction on behalf of Turkish Airlines.

 

Turkish Airlines has had very innovative and first-of-a-kind financing models rewarded by ‘Jane’s Transport Finance’, ‘Global Transport Finance’, ‘Airline Economics’, ‘Airfinance Journal’, and ‘Bonds, Loans & Sukuk Turkey’ in respect of its financing models put in practice since 2008. Turkish Airlines has crowned its success in this regard, as having won 23 international aircraft finance awards in the last ten years for its successful financing performance amounting to 15 billion USD.

 

Previous Awards;

 

  1. 2018 Bonds, Loans & Sukuk Turkey – Transport Finance Deal of the Year
  2. 2017 Airfinance Journal – Tax Lease Deal of the Year
  3. 2017 Global Transport Finance – Unique Deal of the Year
  4. 2017 Bonds, Loans & Sukuk Turkey – Trade&Export Finance Deal of the Year
  5. 2017 Bonds, Loans & Sukuk Turkey – Transport Finance Deal of the Year
  6. 2017 Bonds, Loans & Sukuk Turkey – Structured Finance Deal of the Year
  7. 2016 Airfinance Journal – Capital Markets Deal of the Year
  8. 2016 Airfinance Journal – Tax Lease Deal of the Year
  9. 2016 Airline Economics – European Deal of the Year
  10. 2016 Airline Economics – Editor’s Deal of the Year
  11. 2015 Airfinance Journal – Tax Lease Deal of the Year
  12. 2015 Airfinance Journal – Engine Deal of the Year
  13. 2015 Global Transport Finance – EETC Deal of the Year (Europe)
  14. 2015 Bonds, Loans & Sukuk Turkey – Trade&Export Finance Deal of the Year
  15. 2014 Bonds, Loans & Sukuk Turkey – Structured Finance Deal of the Year
  16. 2013 Airfinance Journal – Tax Lease Deal of The Year
  17. 2013 Global Transport Finance – Aircraft Leasing Deal of the Year (Europe)
  18. 2012 Airfinance Journal – Airline of the Year
  19. 2011 Jane’s Transport Finance – Aircraft Debt Deal of the Year (Europe)
  20. 2008 Jane’s Transport Finance – Aircraft Leasing Deal of the Year (Europe)
  21. 2008 Airfinance Journal – Deal of the Year (Europe)

 

Innovations;

 

  • 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 US Ex-Im guaranteed French tax lease (2015)
  • The first ever EETC Jolco (2015)
  • The first ever Bond Convertible US 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 (2011)

 

 

Source:- Turkish Airlines


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