Finnair secured financing for its fourth A350 aircraft
Finnair Plc Stock Market Release 22 April 2016 at 4:30 pm EET
Today, Finnair has secured financing for its fourth Airbus A350-900 XWB, delivered in March 2016. The transaction amounts to approximately EUR 115 million, implemented using a Japanese Operating Lease with Call Option (JOLCO) structure arranged by Credit Agricole. The transaction relates to Finnair’s ongoing long-haul fleet renewal program, which currently consists of 19 new Airbus A350-900 XWB aircraft delivered between 2015 and 2023.
“This latest transaction is part of a multi-year capital structure plan to renew Finnair’s widebody fleet and ensure that we continue to offer our customers a best-in-class connection from Europe to Asia. It is further proof that the continued improvement in Finnair’s financial performance is allowing us to access some of the most competitively-priced asset-backed financing available”, states Finnair CFO Pekka Vähähyyppä.
Finnair’s first A350s are currently operating from Helsinki to Shanghai, Bangkok, and Hong Kong. Following the entry of the new A350, Hong Kong will be operated fully on an A350.
The fleet operated and owned by Finnair is listed on the company’s website at www.finnairgroup.com.
Finnair communications, tel. +358 9 818 4020, comms(a)finnair.com
Finnair is a network airline specialising in passenger and cargo traffic between Asia and Europe. Helsinki’s geographical location gives Finnair a competitive advantage, since the fastest connections between many European destinations and Asian megacities fly over Finland. Finnair’s vision is to offer its passengers a unique Nordic experience, and its mission is to offer the smoothest, fastest connections in the northern hemisphere via Helsinki and the best network to the world from its home markets. Finnair is the only Nordic carrier with a 4-star Skytrax ranking and a member of the oneworld alliance. In 2014, Finnair’s revenues amounted to EUR 2,400 million and it had a personnel of almost 4,500 at the year-end. Finnair Plc’s shares are quoted on Nasdaq Helsinki.