Finnair closes a sale and leaseback agreement for one of its A350 aircraft
Finnair Plc Investor news 21 December 2018 at 9.00 EET
Finnair has finalised a sale and leaseback arrangement for one of its A350 aircraft with Nomura Babcock & Brown Co., Ltd. (“NBB”), and BBAM Aircraft Management LP as an arranger and lease servicer. In the arrangement Finnair sold the Airbus A350 aircraft delivered in June 2016 to NBB and leased the aircraft back for its own operation. The initial operating lease period is 12 years, and the lease includes extension options.
The arrangement has a positive effect of approximately 44 million euro on Finnair’s operating result for the fourth quarter of 2018, comprising a gain on sale and currency gains on pre-delivery payments and hedges.
Finnair has ordered a total of 19 new A350-900 XWB aircraft from Airbus, of which twelve have now been delivered. According to the current delivery schedule, Finnair will receive the remaining seven A350 aircraft by the end of 2022.
The fleet operated and/or owned by Finnair is shown at the company website at https://www.finnair.com/gb/gb/flights/fleet and updated on a quarterly basis in the company’s financial reports.
Further information:
Finnair Media Desk, t. 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 network carrier with a 4-star Skytrax ranking and a member of the oneworld alliance. In 2017, Finnair’s revenues amounted to EUR 2,568 million and it carried almost 12 million passengers. Finnair Plc’s shares are quoted on Nasdaq Helsinki.