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Emirates closes JOLCO financing on A380

Emirates has closed financing on a new Airbus A380 delivery through a syndicate of banks.

Credit Agricole CIB acted as senior debt arranger, facility agent and security trustee in the Japanese operating lease with call option (JOLCO) structure.

IBJ Leasing and Credit Industriel et Commercial (CIC) were junior debt arrangers. IBJ Leasing also acted as equity arranger.

The transaction was arranged by Veling.

The new A380, MSN 172, was delivered on 30 March. It is the first JOLCO the Dubai-based carrier has closed that is mandated on a new A380 delivery.

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