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Feature: JOL survey 2011

03 June 2011

More equity investors interested in Japanese operating leases (JOLs) as the market opens up, despite a difficult year for Japan.

Tags: Japanese operating lease survey  |  JOL  |  Enis Feyzioglu  |  Robert Melson  |  Jean-Francois Lascombe

This has been a unique year for Japan. Only three months ago, on March 11, the country suffered from a tragic disaster - an earthquake and tsunami struck the North of the country, which resulted in a nuclear disaster.

The International Air Transport Association predicts a major short-term slowdown in Japan's aviation market, which is worth $62.5 billion and represents 6.5% of worldwide scheduled air traffic.

But aircraft finance deals have been less affected. Japan Airlines, which agreed five 737-800s with sale/leasebacks from lessor Jackson Square Aviation, took delivery of one aircraft exactly one month after the earthquake struck.

The Japanese operating lease (JOL) market remains equally buoyant. Air France executed one Japanese operating lease with call option (Jolco) for a 2007-vintage 777-300ER, which was delayed by only a couple of weeks.

Airfinance Journal's 2011 Japanese operating lease survey shows that the number of deals and total...

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