Thai AirAsia has closed its debut Japanese operating lease with call option (JOLCO) financing, for one Airbus A320neo, with Natixis.

The French bank says the deal is the first JOLCO issued directly by Thai AirAsia, and also the first to be closed in Thailand.

JA Mitsui Leasing acted as equity arranger and underwriter, while Korea Development Bank acted along with Natixis as mandated lead arranger and bookrunner.

Natixis Japan Securities and KDB's Tokyo branch acted as lenders.

"We are very proud to have worked on this transaction and to be contributing to Thai AirAsia's growth story and diversification of funding sources," states Wui Jin Woon, Natixis's head of aviation for the Asia-Pacific region. "Our aviation finance franchise has been growing from strength to strength over the past few years and we couldn't be more thrilled to add Thai AirAsia to our roster of clients, and to complement the already wide array of financing options available to our clients with JOLCO structures."

Source: Cirium Dashboard