EasyJet strengthens its finances through $255 million sale and leaseback of six planes

© Reuters. FILE PHOTO: EasyJet restarts its operations amid the coronavirus disease (COVID-19) outbreak at Gatwick Airport, in Gatwick

LONDON (Reuters) – British low-cost airline easyJet (LON:) said it strengthened its finances by $255 million (£205.3 million) through the sale and leaseback of six A320neo aircraft with leasing firm SMBC Aviation Capital.

EasyJet on Thursday raised 419 million pounds through an equity raise to help boost its liquidity to 3 billion pounds as part of its efforts to try to survive the travel slump caused by the coronavirus pandemic.

The funds raised through the sale and leaseback announced on Friday make up part of the anticipated 500 million to 650 million pounds that easyJet said in May it could raise from aircraft sales.

SMBC Aviation will be easyJet’s preferred partner if it decides to sell other aircraft in the next 18 months. The aircraft involved in Friday’s deal have been leased back for terms of between 110 and 122 months.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

READ  Honeywell evaluating revenue potential from Boeing's next aircraft launch: CFO



Please enter your comment!
Please enter your name here