Finnair completes a lease financing arrangement for its next A350 aircraft delivery
Finnair Plc Investor News 17 February 2021 at 9.00 EET
As a part of Finnair’s rebuild program, the company has finalised a lease financing arrangement for its next A350 aircraft delivery, with JLPS Holding Ireland Limited as the lessor and lease servicer. In the arrangement, Finnair will assign the purchase of the Airbus A350 aircraft to a third party, and then leases it back for its own operation. The aircraft is expected to be delivered to Finnair in the second quarter of 2022. The operating lease period is a minimum of 12 years, including a storage period expected to commence in the fourth quarter of 2021, concurrent with the aircraft‘s sale.
The total positive cash effect of the arrangement for Finnair in 2021–2022 is in excess of 100 million US dollars compared to a situation in which the aircraft had been purchased and owned by Finnair.
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 aircraft concerned will be the 17th. The remaining two A350 aircraft are expected to be delivered in the fourth quarter of 2024 and the first quarter of 2025.
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. Sustainability is at the heart of everything we do – Finnair intends to reduce its net emissions by 50% by the end of 2025 from the 2019 baseline and achieve carbon neutrality latest by the end of 2045. Finnair is a member of the oneworld alliance. Finnair Plc’s shares are quoted on the Nasdaq Helsinki stock exchange.