Viva Aerobus Secures First JOLCO Financing via MUFG
A May 2026 delivery of an A321neo has marked a significant shift in fleet strategy for Mexican airline Viva Aerobus. The carrier completed its inaugural Japanese Operating Lease with Call Option, a transaction structured by MUFG that also serves as the first aircraft-focused JOLCO investment for Tokyo-based Three i's Capital.

MUFG served as the sole structuring agent and lender for the deal, tapping into its deep aviation expertise to bring Three i's Capital into the fold as the equity underwriter. This facility provides Viva Aerobus with a new mechanism for capital allocation, diversifying the funding sources used to support its ongoing fleet expansion.
For the participants, the deal represents a calculated expansion into new territory. Ciprian Rodriguez, Fleet Executive Director at Viva Aerobus, noted that the move strengthens the airline's long-term financial capabilities. Meanwhile, Masanori Sueoka, CEO of Three i's Capital, described the transaction as a strategic entry point into the aviation asset class, signaling the firm's intent to become a recurring participant in the leasing market.
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