Qatar Airways Group has entered Japan’s aircraft financing market after signing its first Japanese Operating Lease with Call Option (JOLCO) agreement, covering three Boeing 787-9 Dreamliner aircraft.
The transaction, arranged with HSBC and JP Lease Products & Services Co., Ltd. (JLPS), marks the first of three planned deals under the airline group’s inaugural Japanese JOLCO programme, which will cover a total of seven aircraft.
HSBC acted as debt arranger and sole lender, while JLPS underwrote and arranged the equity component. JLPS will also serve as equity arranger for the wider programme.
The agreement gives Qatar Airways access to Japan’s aircraft financing market and adds another source of international capital as the group continues to fund fleet investments and future growth.
Qatar Airways Group Chief Executive Officer Hamad Al-Khater described the JOLCO market as a strategic long-term funding source, saying the airline expects to maintain a presence in Japan as it finances future aircraft acquisitions and other growth opportunities.
He said the transaction would broaden the group’s investor base, diversify its funding sources and provide access to Japanese capital on attractive terms, helping it meet future financing requirements more competitively.
JLPS President and Chief Executive Officer Teiji Ishikawa said the transaction reflected Japanese investors’ confidence in Qatar Airways’ credit strength. He described the agreement as the beginning of a longer-term relationship, with further support planned for the airline in the Japanese market.
HSBC Qatar Chief Executive Officer Abdul Hakeem Mostafawi said the bank’s role as debt arranger and sole lender built on its longstanding relationship with Qatar Airways Group. He added that the deal demonstrated HSBC’s ability to structure financing solutions that support fleet growth and connect airlines with international capital markets.
The JOLCO programme forms part of Qatar Airways Group’s broader effort to diversify its financing arrangements and strengthen relationships with financial institutions and investors in Japan and other markets. With six additional aircraft covered by the two planned transactions, the programme is expected to establish a more sustained presence for the airline in Japan’s aircraft financing sector.
