Air France refinances a 2009 A380 through JOLCO financing

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Air France closed the refinancing today of a 2009 vintage Airbus A380 (MSN 033) with a Japanese operating lease and call option (JOLCO). The transaction marks the first A380 JOLCO financing for the French carrier.

The aircraft was initially financed in 2009 by way of conditional sale.

Crédit Agricole Corporate & Investment Bank (CA-CIB) arranged the lease financing combined with commercial debt and acted as overall arranger, lease arranger, facility agent, security trustee and debt lead arranger.

Natixis and SMBC acted as debt co-arrangers.

This is the second JOLCO arranged by CA-CIB with Air France this year, following the closing of an A318 (MSN 2967) in January.

CA-CIB also closed in early May a French lease with export credit agency support on a new A380 (MSN 99).