Home / Shipping / Aviation/ Turkish Airlines first to use brand new insurance-backed aircraft financing product “Balthazar”

Turkish Airlines first to use brand new insurance-backed aircraft financing product “Balthazar”


Comments / {{hitsCtrl.values.hits}} Views / Monday, 8 April 2019 00:00

Facebook

Turkish Airlines, being among the most innovative airlines in aircraft financing, recently became the first airline to use the brand new insurance-backed aircraft financing product “Balthazar” combined with French lease, with the financing of its A321 NEO aircraft arranged by BNP Paribas.

The product was developed by Airbus with the cooperation of an insurance consortium consisting of several highly-rated insurance companies to address the need of new products in the aircraft financing market. Turkish Airlines successfully combined a French lease advantage in this 12-year transaction together with insurance cover, leading to an innovative and cost-effective product that contributed significantly to the overall competitiveness of its aircraft financing portfolio.

BNP Paribas, a leading bank in aircraft financing with an international reach and a long-term financing partner of Turkish Airlines, committed a financing amount of up to $225 million for five A321 NEO aircraft to be delivered in 2019. In managing a large number of stakeholders and under various roles, BNP Paribas played an instrumental role in handling this first-of-a-kind transaction on behalf of Turkish Airlines.

Turkish Airlines has had very innovative and first-of-a-kind financing models rewarded by ‘Jane’s Transport Finance’, ‘Global Transport Finance’, ‘Airline Economics’, ‘Airfinance Journal’, and ‘Bonds, Loans & Sukuk Turkey’ in respect of its financing models put in practice since 2008. Turkish Airlines has crowned its success in this regard, as having won 21 international aircraft finance awards in the last ten years for its successful financing performance amounting to $ 15 billion.

 


Share This Article

Facebook Twitter


DISCLAIMER:

1. All comments will be moderated by the Daily FT Web Editor.

2. Comments that are abusive, obscene, incendiary, defamatory or irrelevant will not be published.

3. We may remove hyperlinks within comments.

4. Kindly use a genuine email ID and provide your name.

5. Spamming the comments section under different user names may result in being blacklisted.

COMMENTS

Today's Columnists

The dark tower – a lighter loftier look after its initial illumination

Thursday, 19 September 2019

WHERE WERE YOU WHEN THE LIGHTS CAME ON AT THE LOTUS TOWER? Wait, what? Are you being serious? Do you mean in the midst of our sea of troubles – from addressing poverty to abolishing presidencies – a singular erection has stolen their thunder? (I


Need waste-to-energy, not energy-to-waste!

Thursday, 19 September 2019

Some appear to think of a leader just by visualising a strong person. Blindly believing with that mentality, hoping for the destination to be delivered is being naïve at its very best. I confess that I would like to see knowledge and understanding w


Gender equality has never been so close but still far from being a reality

Thursday, 19 September 2019

This month the Commonwealth Women’s Affairs Ministers Meeting will assemble in Nairobi, Kenya. It has taken place regularly since 1985, to take stock of the current status of gender equality in our member countries, and to share perspectives and ex


Two things shippers should watch out and prepare for in 2020

Thursday, 19 September 2019

2020 will see changes of regulations for shipping lines considering the environment aspects and also will see the new edition on International Commercial Terms known as ICC INCOTERMS 2020, the guiding document for buyers and sellers to enter into sal


Columnists More