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Avianca closes its first JOLCO

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.

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