Japan Bank for International Cooperation (JBIC) has signed a guarantee agreement with a group of banks for the principal and interest of their loans made to Japan Airlines to acquire two Airbus aircraft.

The total principal amount covered by the guarantee is 25.3 billion yen (US$232 million). The lenders are Mizuho Bank, MUFG Bank, SMBC, and Manila-based China Bank.

JBIC says the guarantee will support JAL in obtaining financing from private financial institutions to import the two aircraft, and thereby contribute to maintaining and improving the international competitiveness of the Japanese aviation industry.

Boeing traditionally supplied JAL with its aircraft, but back in 2013 Airbus won its first-ever order, for 31 A350s plus options. The JAL A350s are configured to carry 369 passengers.

The first A350 deliveries were made to JAL in late 2019.