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SAS enters financing agreements on deliveries of new aircraft

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SAS enters Sale & Leaseback (S&LB) agreements of one A350 and three A320neo aircraft as well as PDP financing of five A320neo.

SAS has secured financing of three Airbus A320neo and one Airbus A350-900 through a S&LB-agreement with CDB Aviation Lease Finance. The A350 was delivered on Friday the 26th of March. The three A320neo Aircraft will be delivered to SAS during spring of 2022. In addition, the agreement also includes PDP (Pre Delivery Payments) financing of five A320neo to be delivered in 2022. The agreement means that SAS will sell the aircraft to CDB Aviation Lease Finance and then lease them back on a long-term lease.

“SAS has previously worked together with CDB Aviation Lease Finance for other S&LB transactions, and we are glad that we have secured financing of new aircraft deliveries together with Pat Hannigan and his team. The financing enables financing of our transition towards a unified fleet with significantly lower emissions in a cost and cash efficient way.” says Magnus Ornberg, CFO of SAS.

Through the agreement, SAS has secured financing on all Airbus aircraft deliveries until late Q2 2022. In total SAS has ordered 80 A320neo’s, 3 A321LR’s and 8 A350-900’s.

Continuing to add A320neo and A350-900 aircraft types into SAS fleet is an important strategic step in SAS sustainability development and the goal of a “one type fleet” on SAS short haul operations. Both aircraft types are state-of-the-art with superior fuel efficiency and the lowest environmental footprint and operating costs available.

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