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SunExpress Airlines

Winner: Best Working Capital Funding Solution

The Best Working Capital Funding Solution award went to SunExpress Airlines for pulling off the airline industry’s first export credit agency (ECA) guaranteed financing for pre-delivery payments towards new aircraft. The deal will help the Turkey-based airline continue its rapid growth despite a turbulent backdrop and could pave the way for other airlines to benefit from the same structure.

Judges praised the solution, which was completed in just two months, for making innovative use of existing tools to meet SunExpress’s urgent business needs. And they commended SunExpress – which is a 50:50 joint venture between Turkish Airlines and Germany’s Lufthansa – for being “proactive during times of difficulty.”

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