Finnair Sells, Leases Back 4 A350 Aircraft to Raise $400 Million in Cash

Dienstag, 28.09.2021 08:10 von PLX

• (PLX AI) – Finnair moves forward with refinancing plan: sale and leaseback agreement for four A350 aircraft closed for cash proceeds in excess of USD 400 million.
• • The operating lease period is, on average, 12 years and the counterparties are GE Capital Aviation Services and Pacific Investment Management Company as the lessors
• • The arrangement will not have a significant impact on Finnair’s operating result for Q3
• • The immediate positive cash effect for Finnair is in excess of 400 million US dollars
• • Finnair will use the cash to refinance existing debt and retire its undrawn revolving credit facility of 175 million euros