The transaction is the first of its kind for Cargolux on the selective Japanese market.
A JOLCO allows a lessee to exercise a purchase option for the aircraft at the end of the contract or at an earlier point.
“We are pleased to have been able to close this transaction together with our partners within a very short time period,” says Maxim Straus, Cargolux executive vice president and chief financial officer.
The airline revealed to Air Cargo News that it would use the three B747s that it receives this year as additional capacity, rather than replacing existing tonnage.
One of the aircraft is on the long-term lease while the other two have been purchased second hand.
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