SAS Signs A330 Sale And Leaseback

Scandinavian Airlines (SAS) has secured financing for four A330-300 aircraft through a sale and leaseback agreement with Bocomm, one of the largest banks in China. Under the deal SAS will sell the A330s to Bocomm and lease them back for a 12-year term, once they are delivered in mid-2015. Executive VP and CFO for SAS Group, Göran Jansson, said that the agreement secured finance for the first phase of the carrier’s long-haul fleet renewal. The current list price for four A330-300 aircraft is approximately $1bn.

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