Norton Rose Fulbright Advises TAP Air Portugal on Successful JOLCO Financing for Fleet Renewal

"Norton Rose Fulbright has successfully advised TAP Air Portugal on its re-entry into the Japanese Operating Lease with Call Option (JOLCO) market after over twenty years. This transaction supports TAP's fleet renewal program by financing a new Airbus A321NEO through a tailored cross-currency structure. Partner Giles Brand led the team, with MUFG acting as the arranger and underwriter. The deal highlights TAP's commitment to modernizing its fleet and showcases the versatility of JOLCO structures in aviation finance."

Norton Rose Fulbright advised TAP Air Portugal on a Japanese Operating Lease with Call Option (JOLCO) facility, marking the airline's re-entry into the JOLCO market after more than twenty years. This significant transaction supports TAP's ongoing fleet renewal program, enabling the financing of a new Airbus A321NEO (ACF) through a bespoke cross-currency structure designed to optimize capital efficiency and operational flexibility. The Norton Rose Fulbright team was led by Partner Giles Brand, with support from Senior Associate Chiranj Shah. MUFG acted as arranger, underwriter, and facility agent on the deal.

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Norton Rose Fulbright Advises TAP Air Portugal on Successful JOLCO Financing for Fleet Renewal

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