SAS completes sale and leaseback deal

Sale and leaseback is for six Boeing 737-600s

As part of the most recent plan to improve the financial position of SAS Group, the sale and leaseback has been completed for six Boeing 737-600s to Deucalion Capital X Limited and the Irish based engine leasing company ELFC (Engine Lease Finance Cooperation), acting jointly.

The lease periods are four to five-and-a-half years and SAS Group says that the net cash effect is estimated at SEK 500 million (€57.4 million).

“This sale and leaseback transaction represents an important step in the improvement of SAS’ financial position,” said Göran Jansson, SAS Group CFO. “In February, we succeeded with a sale and leaseback agreement on spare engines and we now further increase our liquidity from asset sales with this agreement.”

SAS also reports that on July 30 it managed to accomplish a private placement of €35 million. The private placement is unsecured and has a five-year term. The funds will be used to support the airline’s longer term liquidity level and to pay off upcoming unsecured maturing debt.

TTG Nordic

[pictured: Boeing 737; photo courtesy SAS]


Check Also

Star Alliance, airlines, digital, technology, share, data, members, mobile, app, website, seat, book, interoperability

Star Alliance improves digital inter-usability

The alliance creates a digital services platform for customers using more than one member airline.

sas, results, traffic, passengers, January, 2018, capacity, stats

SAS load factor falls dramatically

Scandinavian carrier reports a fall in January in both passenger numbers and load factor.

Widerøe, Oslo, Billund, Bergen, strategy, aviation, Embaer, E2, E190, launch, flights, jet, Finnair, SAS, routes, Norway, Tromso, Bodo

Big moves ahead for Widerøe

One small step for the market, one giant step for Widerøe, Norway’s 84-year-old regional airline, as it steps into the jet era in April 2018.

SAS, Go Light, baggage, luggage, Norwegian, check-in, pay, flex, fare, change, seat

New fees at Norwegian and SAS

Adjustments this year at both SAS and Norwegian mean some passengers will have to pay a bit more.

Magnetic MRO, Tallinn, Estonia, SAS, maintenance, Airbus, A320neo, engineering, outsourcing, Sergei Shkolnik, licence, MRO

New SAS planes to be inspected in Estonia

SAS signs up Magnetic MRO for the maintenance of its new Airbus A320neo.

Northern Europe tour operators merge

Via Hansa and Borealis become Via Hansa & Borealis.