Finnair closes sale and leaseback agreement for one A350

posted on 21st December 2018 by Justin Burns
Finnair closes sale and leaseback agreement for one A350

Finnair has finalised a sale and leaseback arrangement for one of its Airbus A350 aircraft with Nomura Babcock & Brown (NBB), and BBAM Aircraft Management LP as an arranger and lease servicer.

In the arrangement Finnair sold the Airbus A350 aircraft delivered in June 2016 to NBB and leased the aircraft back for its own operation. The initial operating lease period is 12 years, and the lease includes extension options.

The carrier said the arrangement has a positive effect of approximately 44 million on Finnair’s operating result for the fourth quarter of 2018, comprising a gain on sale and currency gains on pre-delivery payments and hedges.

Finnair has ordered a total of 19 new A350-900 XWB aircraft from Airbus, of which 12 have now been delivered. According to the current delivery schedule, Finnair will receive the remaining seven A350 aircraft by the end of 2022.