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Turkish Airlines Records $12Bn Aircraft Financing Deals in 10 Years

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Turkish Airlines has crowned its success with 21 international finance awards in the past 10 years for raising $12 billion with three new awards for its successful aircraft financing models.

The three new awards won at Bonds & Loans Awards Night and which brought the number of awards on its financial models to 21 include “Transport Finance Deal of the Year”, “Trade and Export Finance Deal of the Year” and “Structured Finance Deal of the Year”.

Turkish Airlines has been awarded as the runner up in “Trade and Export Finance Deal” category by Bonds & Loans for its brand new B777-300ER aircraft delivered in September 2015.

The total financing builds up to 16,8 billion Japanese Yen and the structure is a combination of an innovative, complex and unique U.S. Ex-Im Guaranteed French Tax Lease.

This structure has been successfully implemented by Turkish Airlines by placing the financing in Japanese Yen rather than placing the predominant currency in aircraft finance which is American Dollar.

The structure was arranged by BNP Paribas, where tax leverage is achieved in this deal together with Ex-Im Bank Guarantee coverage, enabling Turkish Airlines to use the advantages of both export guarantee and tax leverage leading to a low cost of financing for the subject aircraft.

Turkish Airlines has been awarded as the runner up in the “Structured Finance Deal of the Year” category as well by Bonds & Loans for its brand new 3 A321-200 aircraft delivered between September and November 2015.

Turkish Airlines’ primary goal was to obtain a long-term and diversified cheap funding source.

Accessing to the Japanese capital markets have added another source together with the banking market and contributed to diversify the geographic exposure.

Moreover, this transaction has also achieved an attractive 100% LTV financing at low cost by combining with Japanese equity.

This deal is the first-ever JPY denominated EETC for aircraft financing in the world, which has established a brand new financing structure by integrating conventional EETC with JPY capital markets.

This fully worked-out structure put multiple aircrafts into multiple classes and provided liquidity support from a Japanese bank, which boosted the acquisition of higher rating than the obligor‘s credit.

‎Flag carrier has also been awarded as the finalist in the “Transport Finance Deal of the Year” category by Bonds & Loans at the awards ceremony held in İstanbul, for its brand new 1 B777-300ER and 8 B737-800 aircraft delivered between May and August 2016.

The total financing builds up to 430 million Euros and the structure is a combination of an innovative, complex and one-of-a-kind U.S. Ex-Im Guaranteed format French Tax Lease with Bridge Loan.

Tax leverage is achieved in this deal together with Ex-Im Bank Guarantee coverage, enabling Turkish Airlines to use the advantages of both export guarantee and tax leverage leading to a low cost of financing for the subject aircraft.

Also, as US Ex-Im is not active at the moment, there are bridge loans embedded into the Ex-Im guaranteed structure for each aircraft, leading to the benefit of having lower costs of financing also until Ex-Im coverage is available.

Ms. Ayşegül Denli, Turkish Airlines’ SVP Finance, received the awards on behalf of the carrier. In her acceptance speech she emphasized her great pride in winning the honor.

She continued by saying that; “It’s very important and also valuable for us to win 3 awards for the financial models that we implemented in 2016, which was a very tough year on global scale. Turkish Airlines exhibits leading performance in all areas of aviation, constantly working for continued success.

“As a result of this ongoing effort, we have received a wide range of awards which provide a substantial encouragement and satisfaction to our team. I want to thank both Bonds & Loans and our devoted team, which has put their hearts and souls into these projects.”

Turkish Airlines has had very innovative and first-of-a-kind financing models rewarded by Jane’s Transport Finance, Global Transport Finance, Bonds & Loans, and Airfinance Journal in respect of its financing models that have been put in practice in 2006, 2008, 2011, 2012, 2013, 2014, 2015 and 2016.

Turkish Airlines has crowned its success with 21 international aircraft finance awards in the past 10 years for raising 12 billion US Dollars.

Its various innovations include being the first ever JPY denominated EETC; the first ever ECA backed French Lease;  the first ever US Exim backed French Lease; the first ever ECA backed JOLCO Lease; the first ever US Exim backed JPY denominated Convertible Bond; and the first ever ECA Guaranteed Italian Tax Lease in Japanese Yen denomination.‎


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General News

FG Launches NERD to Combat Certificate Fraud

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Federal government has taken a significant step to enhance the integrity of Nigeria’s education system by deploying the Nigeria Education Repository and Data Bank (NERD), a national digital platform that secures, digitizes, and authenticates academic records across all tertiary institutions.

FG Launches NERD to Combat Certificate Fraud

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Maruf Tunji Alausa, minister of Education, unveiled the initiative during the National Capacity Building Programme for institutional representatives, underscoring NERD’s importance as a critical national infrastructure for safeguarding academic credentials and strengthening education data governance.

“NERD is essential to our reform agenda under the leadership of President Bola Ahmed Tinubu,”  Alausa stated.

“It ensures reliable digital preservation and verification of academic records, which is vital for maintaining the credibility of our education system.”

According to Alausa, in the brief span of four months since its implementation, NERD has made remarkable progress, successfully preserving nearly 100,000 digital student submissions and integrating over 250 tertiary institutions.

The platform has also enrolled more than 133,000 students and 6,800 lecturers, significantly enhancing the academic record-keeping process.

Alausa highlighted that the initiative is a proactive measure against certificate fraud, noting recent investigations that revealed cases involving fraudulent foreign credentials procured from unaccredited institutions.

This underscores the urgency of protecting the integrity of academic qualifications in Nigeria.

Furthermore, the Ministry announced that participation in the NERD system will soon become a prerequisite for either participation in or exemption from the National Youth Service Corps scheme, reinforcing the initiative’s impact on the educational landscape.

The Federal Government remains committed to building a transparent, digitally verifiable, and globally respected education system, ensuring that the integrity of academic records is upheld across the nation.


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Goodnews Naija Launches ‘Building in Nigeria’ Series on Entrepreneurs, Real Sector Builders

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Goodnews Naija Podcast, a digital platform dedicated to highlighting positive, uplifting stories and innovations from Nigeria, has launched Building in Nigeria, a documentary-style series aimed at spotlighting entrepreneurs and businesses contributing to economic activity and job creation across the country.

The series explores the realities of running and scaling businesses in Nigeria, featuring founders, operators, and innovators across sectors including manufacturing, services, agriculture, and sustainability.

Through interviews and on-ground visuals from workshops, markets, factories, and small offices, the programme examines the operational discipline, challenges, and execution processes required to build viable enterprises in a complex business environment.

Damilola Kehinde, host of the series, said the programme focuses on entrepreneurs whose contributions to economic progress often receive limited visibility.

According to the producer, Memunat Oladepo, the series seeks to move beyond surface narratives by providing practical insights into how Nigerian businesses are started, sustained, and grown despite infrastructure gaps, funding constraints, and market volatility.

The organisers said Building in Nigeria is targeted at entrepreneurs, investors, and policy-interested audiences seeking grounded perspectives on enterprise development in the country.

The first season is scheduled to premiere on March 11, 2026, across Goodnews Naija’s YouTube channel, social media platforms, and podcast platforms, where it recorded over 24 hours of viewership within the first day of release.

 

 


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FCCPC Bans Lagos ‘No Refund’ Policy, Vows Fines and Shutdowns for Traders

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Federal Competition and Consumer Protection Commission (FCCPC) has warned Lagos traders against enforcing the unlawful “no return, no refund” policy, declaring it illegal under the Federal Competition and Consumer Protection Act (FCCPA) 2018.

FCCPC Bans Lagos 'No Refund' Policy, Vows Fines and Shutdowns for Traders

FCCPC

Dr Olubunmi Otti, FCCPC Southwest Zonal Coordinator, issued the directive during the inauguration of new executives of the Phone and Allied Products Dealers Association (PAPDA) on Wednesday, stressing consumer education as the strongest defence against market exploitation.

“There is no such thing as ‘no return, no refund’. If a product does not fulfil its intended purpose, the consumer has the right to return it,” Otti declared, adding the commission mediates complaints for refunds, replacements, or exchanges.

Non-compliant businesses face fines, product withdrawals, seizures, prosecutions, or shutdowns. Otti noted thousands of monthly complaints via the FCCPC portal in the Southwest alone, with sensitisation expanding to Alaba Market and Trade Fair Complex.

She urged consumers: “When your rights are violated, do not just say, ‘You give it to God.’ Bring your complaints to the FCCPC. The law empowers us to protect you,” while calling for traders’ collective responsibility to ensure quality products and services.


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