Finnair has signed a memorandum of understanding (MoU) with GE Capital Aviation Services (GECAS) for the sale and leaseback of two A330s and two A350s, the latter of which are on order. The deal, which is worth approximately €320m, is part of Finnair’s long-haul fleet renewal programme. The airline will replace its A330 and A340 fleet with the new generation of A350 aircraft. The sale and leaseback agreements for the two A330 aircraft are expected to be finalised in the 1H 2014. The proceeds from the arrangement will be used to finance Finnair’s future fleet investments. Finnair has ordered 11 A350s and has options for eight additional aircraft.