SAS Secures Financing for 4 Airbus A330-300s

SAS has signed a sale and leaseback agreement with the Chinese bank, Bocomm, to secure the financing of 4 Airbus A330-300s.

The agreement means that SAS, at the time of delivery for respective aircraft, will sell the aircraft to Bocomm and then lease them back during a term of 12 years.

The aircraft will be delivered during the latter part of 2015 and the beginning of 2016.

"It is with pleasure that I have signed an agreement that secures financing of the first phase of SAS' long haul fleet renewal through the delivery of 4 Airbus A330-300 Enhanced. This is SAS' first large agreement with a Chinese counterpart and Bocomm will become a very good partner for SAS," said Göran Jansson Executive Vice President and CFO for the SAS Group.

The list price for the 4 Airbus A330-300 is approximately US$ 1 billion.