Wed, 17 February 2021 |
Finnair Signs Lease Financing Agreement for
Next Airbus A350 Aircraft Delivery
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Finnair has finalised a lease financing arrangement
for its next Airbus A350 aircraft delivery with JLPS Holding
Ireland Limited as the lessor and lease servicer.
The deal enables Finnair to 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 US100 million
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
1 September 2020. The aircraft in the deal with JLPS is the 17th.
The
remaining two A350 aircraft are expected to be delivered in the
fourth quarter of 2024 and the first quarter of 2025.
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