Holland & Knight Recognized by Airfinance Journal for Its Role in “Tax Lease Deal of the Year”

LONDON (June 28, 2021) – Holland & Knight has been recognized by Airfinance Journal for the firm's work advising Pegasus Airlines in connection with a €55m Jolco financing for one Airbus A321neo. The transaction, which was named "Tax Lease Deal of the Year" for 2020, is featured in the publication's May/June issue.

According to Airfinance Journal, the financing was "truly innovative" in terms of the structure of the transaction as well as the fact that it was the first aircraft ever delivered fully remotely from a manufacturer's production line.

The Turkish carrier financed the A321neo delivery under a Japanese operating lease with a call option (Jolco) facility funded with Aviation Capital Group-guaranteed debt structured and funded by Bank of China, which also acted as facility agent. ABL Aviation acted as global equity and debt arranger for the first-ever Jolco funded with ACG guaranteed debt.

The Holland & Knight team advising Pegasus was led William Coleman. Other team members included Victoria Koob, Timothy Barnett and James Sturgeon.

Airfinance Journal 2020 Deals of the Year winners were selected by a judging panel of senior aviation finance and independent executives.