Turkish Airlines Secures First Sustainability-Linked Loan For Two Airbus A321NEO Aircraft
Date
9/20/2024 7:10:56 AM
(MENAFN- Dubai PR Network) Global brand continues to break new ground as it financed its two A321NEO, new generation aircraft with outstanding environmental performance, with a multicurrency JOLCO structure containing sustainability linked loan facility.
Turkish Airlines, which distinguished itself by achieving one of the lowest financing costs in the industry with its award winning creative and first-of-its-kind financing models, has now taken a notable step in sustainable Aviation finance.
Structured by Societe Generale, the facility is linked to flag carrier's achievement of Sustainability Performance Targets (SPTs) with respect to its Key Performance Indicator (KPI) of carbon intensity reduction of its fleet, aligned with international standards for the aviation sector.
On this new development, Turkish Airlines' Member of the Board and the Executive Committee, and Chief Financial Officer (CFO), Assoc. Prof. Murat Şeker stated;“As an airline, awarded by World Finance as the 'Most Sustainable Flag Carrier Airline' for three years in a row, we are glad to integrate our sustainability endeavors into aircraft finance, an area where our success is consistently recognized by awards from world-renowned organizations. We are confident that this integration will foster our sustainable growth and fleet renewal strategy while contributing to our goal of becoming a carbon-neutral airline by 2050.”
With its experienced team, Turkish Airlines' aircraft financing team has not only achieved one of the lowest financing costs in the airline industry but has also been recognized annually with various financing awards from globally renowned organizations such as Global Transport Finance, Airline Economics, Airfinance Journal, and Bonds, Loans & Sukuk Trkiye as a result of employing innovative financing models, many of which were groundbreaking in the industry. Turkish Airlines has crowned its success in this regard, as having won over 30 international aircraft finance awards in the last ten years for its successful executions amounting to approximately 16 billion USD.
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