SAS Completes Sale And Leaseback For Six 737-600s

SAS Group has finalised the sale and leaseback of six 737-600s to Deucalion Capital X Limited (advised by DVB Bank SE of Germany) and Ireland-based Engine Lease Finance Corporation (ELFC), acting jointly. The deal is part of a recently launched plan to improve SAS’ financial position. Göran Jansson, CFO, SAS Group, commented, “In February, we succeeded with a sale and leaseback agreement on spare engines and we now further increase our liquidity from asset sales with this agreement." The lease periods are four to five-and-a-half years. The net cash effect for the SAS Group is estimated at MSEK 500. ($1=6.56 SEK)

TAGS: Airlines
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