EasyJet forced to sell 9 aircraft to raise $400m in cash

29/10/2020

EasyJet announced that it has raised $399 million (306 million pound) from the sale-and leaseback of nine of its Airbus A320 jets.

EasyJet also announced that it will continue to review its liquidity position and could seek more sale and leaseback deals in order to boost its finance in days to come.

Before this latest agreements, the British airline had already raised 608 million pounds from sale and leasebacks of its jets during the coronavirus pandemic.

EasyJet announced on Tuesday that it signed two deals for the sale and leaseback of these 9 Airbus A320s. The airline will lease the planes back until they are ten years of age

EasyJet signed one deal with Wilmington Trust SP Services for five Airbus 320 aircraft, which will generate $191.1 million (147 million pounds).

Similarly, the airline made another deal with Sky High 112 Leasing Company for four A320s, which will generate $207.5 million (159 million pounds) in cash for the airline.

Airlive