ABL Aviation, the global independent aircraft investment management firm, is pleased to announce it has successfully completed another delivery of a new Airbus A321neo aircraft for Pegasus Airlines, on behalf of ABL Aviation’s Japanese partner, financed through a Japanese operating lease with call option (JOLCO) structure. This aircraft is the fourth A320neo Family unit delivered under the same structure to Pegasus.
The transaction follows an April 2020 deal also arranged by ABL Aviation for Pegasus Airlines. Closed at the height of the COVID-19 pandemic, the transaction marked the industry’s first-ever 100% remote delivery of an aircraft.
Commenting, Ali Ben Lmadani, CEO of ABL Aviation, said: “We are thrilled to complete another delivery for Pegasus Airlines with whom we have enjoyed a longstanding relationship. This fourth transaction reflects our strong partnership with Pegasus and demonstrates our commitment to creating tailored solutions and financing environmentally friendly new generation Airbus NEO aircraft to support our customers’ growth targets.”
Tamer Yüzüak, EVP Finance and Fleet Management of Pegasus Airlines adds “We are pleased to expand our relationship with ABL Aviation during tough times and good times with the JOLCO financing of this A321neo aircraft. Pegasus Airlines will continue to diversify its financing resources in favour of the new technology and environmentally friendly Airbus NEO family aircraft. We are now operating 97 aircraft as of today, almost 75% of our fleet consisting of new technology CFM LEAP-1A powered A320neo family aircraft. We are among the leading airlines that adopted IATA’s “2050 Net Zero Carbon Emmissions”, our commitment to grow with environmental friendly new generation Airbus NEO Aircraft family aircraft also contributes to achieve our targets to “Fly Net Zero”.”
Incorporating the latest technologies, the A321neo delivers 20% fuel cost savings alone with its new generation engines and the industry’s reference cabin design. The A321neo also offers significant environmental benefits with nearly a 50% reduction in noise footprint compared to previous generation aircraft, helping Pegasus to meet its ambitious sustainability targets, including zero net CO2 emissions by 2050.