LBBW has successfully structured and financed a Boeing B787-9 (“Dreamliner”) for Korean Air. Beside acting as sole arranger of the transaction LBBW’s branch in Seoul (Korea) served as facility agent and account bank locally. In addition, LBBW branch in Singapore acted as the security trustee. The financing was signed on 19 December 2018 and has a term of ten years. The long-haul commercial aircraft with a capacity of up to 269 passengers has already been delivered.
“Following the new business strategy, we want to implement aircraft finance to a greater extent again in the future and thus gradually expand our aviation portfolio. The transaction with Korean Air once again demonstrates our strong capacity to offer comprehensive services for complex financing structures from a single source,” explains Thomas Schulz, who is responsible for Infrastructure and Transportation Finance at LBBW.