Avianca has closed its first Japanese operating lease with call option (JOLCO) transaction, financing a new Boeing 787 delivery.
Burnham Sterling arranged the transaction, which closed on delivery of the aircraft a few weeks ago, Avianca's senior director of fleet financing Lucia Avila told FlightGlobal at the ISTAT Latin America conference in Bogota today.
The 787-8 (MSN 39407) was delivered to the Colombian carrier on 31 October, Flight Fleets Analyzer shows.
The structure's low costs led Avianca to use a JOLCO to finance the aircraft, says Avila.
JOLCO structures allow airlines to finance 100% of the capital costs of an aircraft.
Avianca has also mandated JOLCO financing for two Airbus A320-family aircraft due by year-end, says Avila.
Flight Fleets Analyzer lists MSNs 7887 and 7928 as the two A320neos scheduled for delivery to Avianca within that timeframe.