Aeroplane in Flight

WFW advises BNP Paribas on a JOLCO aircraft financing for Air France

11 June 2012

Watson, Farley & Williams (“WFW”), a leading international law firm, is pleased to announce that it has advised a syndicate of French banks led by BNP Paribas and including Natixis Transport Finance and Crédit Industriel et Commercial on the Japanese operating lease with call option (JOLCO) financing of a new Boeing B777-328ER aircraft for Air France.

The WFW team on this US$145,000,000 deal was led by Paris partner Charles Viggers and included Paris associates Alexia Russell and Emi Dagogo.

This is the second JOLCO deal for an Air France aircraft that WFW’s Paris office has handled this year. Charles Viggers comments: “With recently announced changes to Japanese tax law coming into effect soon, the appetite in the JOLCO market for wide-body aircraft such as this B777 has seemed particularly strong in recent months. The timing on JOLCO transactions is invariably tight and we have enjoyed working with the banks and with Air France to ensure a smooth closing of this deal.”