March 20, 2015

Finnair finalises EUR 60 million sale and leaseback of aircraft

The transaction’s proceeds will be used to finance Finnair’s forthcoming fleet investments, which include 19 Airbus A350 aircraft.
The transaction’s proceeds will be used to finance Finnair’s forthcoming fleet investments, which include 19 Airbus A350 aircraft.
Finnair

Finnair has concluded its transaction with German Operating Aircraft Leasing GmbH & Co. KG (GOAL) for the sale and leaseback of three Embraer 190 aircraft. A Memorandum of Understanding was signed between the two companies on 17 December last year.

The value of the transaction was approximately 60 million euros at current market value.

The lease agreements for the aircraft expire on average after eight years. Finnair will sublease the three Embraer 190s to its associated company Flybe Finland, which is currently operating the aircraft.

The proceeds from the transaction will be used to finance Finnair’s fleet investments over the coming years, including 19 Airbus A350 aircraft.

The transaction is not anticipated to make a significant impact on Finnair’s operating result this year.

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