The Japan Bank for International Cooperation (JBIC, Governor: HAYASHI Nobumitsu) signed today a guarantee agreement with Sumitomo Mitsui Banking Corporation for the principal and interest of their loans (total principal amount covered by guarantee: approximately JPY16.2 billion) for the import of an aircraft by Japan Airlines Co., Ltd. (JAL).
The guarantee agreement will aim to support the import of an aircraft from Airbus S.A.S in France, by assisting with financing from private financial institutions. The airplane will be leased to JAL, the operator, by Red GK Leasing Co., Ltd. and TLC Dracaena Co., Ltd., its special purpose companies. This will contribute toward maintaining and improving the international competitiveness of the Japanese aviation industry.
In its Medium-Term Management Plan, JAL states that it will focus on its ESG strategy and will promote activities for reducing total CO2 emissions to virtually zero in 2050. Having recognized CO2 emissions from aircraft as a particularly substantial issue, JAL is proactive in replacing its aircraft with fuel-efficient ones. The import of this aircraft aligns with the Medium-Term Management Plan objectives and will help to reduce environmental impact.
As Japan’s policy-based financial institution, JBIC will continue to provide financial support for the import of aircraft that are indispensable to the lives of the people in Japan, as well as for initiatives by Japanese companies to realize a decarbonized society, in collaboration with private financial institutions, and by performing its risk-assuming function.
