Qatar Airways Group Secures First Japanese JOLCO Financing for Three Boeing 787-9 Dreamliners

Qatar: Qatar Airways Group has signed its inaugural Japanese Operating Lease with Call Option (JOLCO) transaction, covering three Boeing 787-9 Dreamliner aircraft. The move underscores Qatar’s growing role as a hub for innovative aviation financing in the Gulf region.

Overview

This first deal is the initial step of three planned transactions under the airline’s inaugural JOLCO programme in Japan, which together will support a total of seven aircraft. JP Lease Products & Services Co., Ltd. (JLPS) serves as equity arranger across the programme. The transaction establishes Qatar Airways Group’s presence in the Japanese aircraft financing market and further strengthens its financial partnerships across Asia. Beyond being a financing milestone, the entry into the Japanese JOLCO market shows confidence from a highly selective investor community that backs top‑tier airline credits. As a first‑of‑its‑kind agreement, it highlights the Group’s financial strength, credibility and ability to draw diversified sources of international capital, setting a positive precedent for the wider investment community.

Financial Structure and Partners

HSBC acted as debt arranger and sole lender for the deal, while JP Lease Products & Services Co., Ltd. (JLPS) underwrote and arranged the JOLCO equity portion.

Executive Comments

Hamad Al‑Khater, Chief Executive Officer of Qatar Airways Group, said: “We view the JOLCO market as a strategic long-term funding source and expect to maintain a consistent presence as we finance future fleet investments and growth opportunities. “This transaction provides Qatar Airways with an important foothold in the Japanese financing market, offering access to a deep pool of capital on extremely attractive financial terms. It further diversifies our funding sources, broadens our investor base, and positions the Group to support its future aircraft financing requirements efficiently and competitively.”

Teiji Ishikawa, President and Chief Executive Officer of JP Lease Products & Services Co., Ltd., said: “Japanese investors look first at the credit of the airline. Qatar Airways is a strong credit, and investors in Japan welcome this transaction. We are very pleased to have arranged the equity for the airline’s first JOLCO. We do not see this as a single transaction. It is the start of a long-term programme, and we will continue to support Qatar Airways in the Japanese market for many years to come.”

Abdul Hakeem Mostafawi, Chief Executive Officer of HSBC Qatar, said: “Building on HSBC’s longstanding strategic partnership with Qatar Airways Group, HSBC is pleased to support Qatar Airways Group’s inaugural JOLCO. Our role as debt arranger and sole lender in this transaction demonstrates our sector expertise and ability to deliver tailored solutions that support fleet expansion, diversify funding sources, and connect leading airlines with global capital. As Qatar Airways Group continues to expand its fleet and network, it remains focused on diversifying its funding sources and building long-term relationships with financial institutions and investors in Japan and beyond.”

Looking ahead, Qatar Airways Group says it will continue to expand its fleet and network while concentrating on diversifying funding sources and cultivating long‑term ties with financial institutions and investors in Japan and elsewhere.