Finnair closes a sale and leaseback agreement for one of its A350 aircraft

Finnair Plc           Investor News      17 December 2020 at 9.00 a.m. EET

As a part of Finnair’s rebuild program, the company has finalised a sale and leaseback arrangement for one of its A350 aircraft with Incline B Aviation Limited Partnership as a lessor guarantor, and BBAM Aviation Services Limited as a lease servicer. In the arrangement, Finnair sold the Airbus A350 aircraft, which was delivered in April 2019, and leased it back for its own operation. The initial operating lease period is 12 years, not including extension options.

The arrangement has no major impact on Finnair’s operating result for the fourth quarter of 2020. However, the immediate positive cash effect for Finnair is in excess of 100 million euros.

Finnair has ordered a total of 19 new A350-900 XWB aircraft from Airbus, of which 16 have been delivered as of September 1, 2020.

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, +358 9 818 4020, comms(a)finnair.com  
 

Finnair is a modern premium 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 is the only Nordic network carrier with a 4-star Skytrax ranking and a member of the oneworld alliance. In 2019, Finnair’s revenues amounted to EUR 3,098 million and it carried over 14.7 million passengers. Finnair Plc’s shares are quoted on the Nasdaq Helsinki stock exchange.