The Japan Bank for International Cooperation is providing guarantees totalling Y174 billion ($1.6 billion) for aircraft-import loans to ANA Holdings and Japan Airlines.

The export-credit agency on 9 June signed an agreement with private financial institutions to provide a Y88.4 billion guarantee against the principal and interest of their loans to JAL. The guarantee allows the airline to obtain financing from these institutions for the import of Airbus and Boeing aircraft numbering eight in total.

On 30 June, the agency signed a similar agreement to guarantee Y85.6 billion against the principal and interest of loans to ANA for six Airbus/Boeing jets.

“As Japan’s policy-based financial institution, JBIC will continue to provide financial support for the import of aircraft that are indispensable for the lives of the people in Japan,” it says.

Cirium has contacted Japan Airlines and ANA for comment.