30 January 2019

Cargolux closed its first JOLCO on a Boeing 747-400 freighter

On January 29, Cargolux Airlines International S.A. closed its first Japanese operating lease with call option (JOLCO) transaction for a Boeing 747-400 freighter aircraft.

Crédit Agricole CIB acted as overall arranger, facility agent, and lender, and DVB Bank is co-lender. Allen & Overy acted for Cargolux, while Norton Rose Fulbright acted for the lenders.

The transaction is the first of its kind for Cargolux on the selective Japanese market.

“We are pleased to have been able to close this transaction together with our partners within a very short time period,” says Maxim Straus, Cargolux Executive Vice President & CFO. “It reflects Japanese investors’ confidence in Cargolux and it opens further refinancing opportunities for our company. We see the JOLCO as the perfect complement to our existing finance portfolio.”

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About Cargolux Airlines International

Cargolux, based in Luxembourg, is Europe’s leading all-cargo airline operating a fleet of 30 Boeing 747-8 freighters and Boeing 747-400 freighters. As a future-geared airline, Cargolux also has 10 efficient Boeing 777-8F on order to replace its ageing 747-400 aircraft. The Cargolux worldwide network covers over 75 destinations on scheduled all-cargo flights and offers full and part-charter services. The company has more than 85 offices in over 50 countries and operates an extensive global trucking network to more than 250 destinations. With over 50 years of experience in the air cargo industry and an extensive product portfolio, Cargolux provides tailored transport solutions for all types of shipments. The Cargolux Group also offers aerial firefighting services through its dedicated unit Aquarius Aerial Firefighting. As a responsible cargo carrier, Cargolux has developed a solid Sustainability program encompassing Environmental, Social, and Governance principles. The Cargolux Group employs close to 2,500 staff members worldwide.

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