SAS in sale-leaseback deal – with China

Agreement involves four Airbus A330-300 aircraft

SAS says it secured financing today for four Airbus A330-300 Enhanced aircraft, through the signing of a sale and leaseback agreement with Bocom (Bank of Communications), one of the biggest banks in China, headquartered in Shanghai.

The planes will be delivered during the latter part of 2015 and the beginning of 2016. The agreement means that SAS, at the time of delivery for the respective aircraft, will sell the planes to Bocom and then lease them back during a term of 12 years. The list price for four aircraft of this type is around USD 1 billion.

“It is with pleasure that I today signed an agreement that secures financing of the first phase of SAS’ long-haul fleet renewal through the delivery of four Airbus A330-300 Enhanced,” said Göran Jansson, executive vice president and chief financial officer for the SAS Group.

Jansson said that this was the airline’s “first large agreement with a Chinese counterpart” and that Bocom “will become a very good partner for SAS.”

TTG Nordic

[pictured: Airbus A330-300; image courtesy Airbus, computer rendering by Fixon – GWLNSD]

x

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.