Finnair takes delivery of its eighth A350 aircraft and closes a sale and leaseback agreement

Eleanor Steed
By Eleanor Steed April 4, 2017 14:45

Finnair takes delivery of its eighth A350 aircraft and closes a sale and leaseback agreement

Finnair has finalised a sale-leaseback transactions, announced previously as a memorandum of understanding, for one Airbus A350 aircraft, which was delivered yesterday, with Capital Aviation Services Limited (GECAS). The initial lease period is 12 years, and the lease includes extension options.

The arrangement has a positive effect of approximately €50 million on Finnair’s operating result for the second quarter of 2017, comprising a gain on sale and currency gains on pre-delivery payments and hedges. Following the arrangement, Finnair has the flexibility to pay for the remaining three A350 deliveries scheduled for 2017 in cash.

Finnair has ordered a total of 19 new A350-900 XWB aircraft from Airbus, of which eight have now been delivered. According to the current delivery schedule, Finnair will have 11 A350 aircraft by the end of 2017 and 19 by the end of 2023.

Eleanor Steed
By Eleanor Steed April 4, 2017 14:45