Lee & Ko Aircraft Finance Team’s successfully advised KEB Hana Bank and several other Korean banks in USD157.4 million Japanese Operating Lease aircraft financing in respect of five Airbus aircraft operated by Qatar Airways. The Japanese Operating Lease (JOL) is a highly valuable aircraft/vessel purchase financing product structured to maximize tax benefits allowed under the Japanese tax regulations.
This financing was arranged by KEB Hana Bank and participated by Woori Bank, Kookmin Bank, Industrial Bank of Korea, Suhyup Bank and Nonghyup Bank. Using this JOL financing structure, JP Lease Product & Services Co., Ltd. (JLPS) which is a leader in global JOL market acquired one A320-200 aircraft and four A330-300 aircraft operated by Qatar Airways.
Lee & Ko’s unrivaled expertise and experience in aircraft financing transactions played a key role in providing effective advice throughout this financing, in particular in the structuring stage as well as in providing timely solutions to various legal issues raised by lenders investment committee and effectively liaising communications among various parties and local legal advisors from multiple jurisdictions. Lee & Ko’s Aircraft Finance Team has been continuing to advise various Korean banks on other JOL aircraft financing deals.