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illuminem summarizes for you the essential news of the day. Read the full piece on Gulf News or enjoy below:
🗞️ Driving the news: Turkish Airlines secured a sustainability-linked loan to finance two Airbus A321neo aircraft through a Japanese Operating Lease with Call Option (JOLCO)
• The airline achieved one of the industry's lowest financing costs while aligning with its sustainability goals
🔭 The context: The loan facility is tied to Turkish Airlines' Sustainability Performance Targets (SPTs), particularly reducing carbon intensity across its fleet
• This innovative financing structure, arranged by Societe Generale, reflects the airline's commitment to its 2050 carbon-neutral goal
🌍 Why it matters for the planet: By linking aircraft financing to sustainability goals, Turkish Airlines is integrating environmental responsibility into its fleet expansion, contributing to global efforts to decarbonize aviation—a sector with significant emissions
⏭️ What's next: Turkish Airlines aims to continue its fleet renewal strategy and advance its environmental commitments, with a focus on achieving carbon neutrality by 2050
💬 One quote: “We are confident that this integration will foster our sustainable growth and fleet renewal strategy while contributing to our goal of becoming a carbon-neutral airline by 2050,” said Murat Şeker, CFO of Turkish Airlines
📈 One stat: Turkish Airlines has secured around $16 billion in financing through innovative models, winning over 30 international finance awards
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