Castlelake Provides Financing to Turkish Airlines

Castlelake, L.P. ("Castlelake"), a global alternative investment manager with 15 years of tenure financing and managing aviation assets, today announced it has provided a loan package to Turkish Airlines, secured by three new Boeing 737 MAX 8 aircraft and one new 737 MAX 9 aircraft.

"We're pleased to be able to support Turkish Airlines, one of world's largest airlines, as it continues to enhance its fleet capabilities with advanced, efficient aircraft," said Armin Rothauser, Partner at Castlelake and head of the firm's lending strategy. "This financing is an example of the tailored solutions we are well positioned to provide to aircraft owners, enabling them to effectively achieve their fleet modernization goals. We look forward to continuing to support the airlines and the broader aviation ecosystem as the sector recovers."

"This transaction with Castlelake allows us to optimally finance some of our newest, most in-demand aircraft and in doing so, execute on our strategic objectives," said Ayşegül Denli, Turkish Airlines' Senior Vice President Finance of Turkish Airlines. "This is especially vital during this exciting time as international leisure and business travel recovers and we look forward to welcoming many passengers as they return to the skies."

This transaction is the latest in Castlelake's growing Aviation Lending Program, which has committed $2.1 billion across multiple transactions since its launch last year. The program draws on Castlelake's deep aviation investment experience across market cycles and the differentiated expertise of its more than 60 dedicated professionals to provide compelling, bespoke capital solutions to aviation industry participants. In addition to lending transactions with carriers, leasing companies and other industry participants, Castlelake began a partnership with Boeing and its subsidiary Boeing Capital Corporation in December 2020 to provide delivery financing solutions to commercial aircraft customers for new commercial aircraft deliveries.