ABL Aviation announces the delivery of another JOLCO for EL AL Israel Airlines Ltd (“EL AL”) with the financing of a 787-8 combined with UK Export Finance (UKEF) supported debt provided by ING. The structure provided EL AL with 125 million USD financing for the aircraft.
A BL Aviation announces the third JOLCO financing arranging the equity for the financing of the Boeing 787-8 of EL AL Israel Airlines Ltd. (“EL AL”).
As reported by EL AL, the financing structure combined UKEF supported debt provided by ING and equity for a total of 125 MUSD, in support of the delivery of the aircraft on November 27, 2019.
“For me this transaction was another major milestone for ABL Aviation. We have structured the first ever AFIC JOLCO with the airline in June 2019, and I hope to do many more innovative transactions in the coming months”, said Ali Ben Lmadani, CEO ABL Aviation.
ABL Aviation is a global and fully independent asset management company with five offices around the world in Dublin, Casablanca, Hong Kong, New York and Dubai, and an established track record of sourcing and managing aviation investments for its investors. ABL Aviation’s exclusive partnership in Japan allows it to offer airlines JOL and JOLCO financing in both new and mid-life aircraft.
“We are excited to receive our first 787-8 aircraft, in addition to 12 787-9 aircraft already received and operated by EL AL. This additional aircraft is another milestone in accomplishing EL AL’s strategy to enhance its network and enable its growth”, says Yancale Shahar, Company Treasurer of EL AL.