The sale and leaseback is completed by the end of July. The lease periods are four to five and a half years.
As part of the recently launched plan to improve the financial position of SAS Group, 4 Excellence Next Generation, SAS has now finalized the sale and leaseback of six Boeing 737-600’s to Deucalion Capital X Limited (advised by the German Bank DVB Bank SE) and the Irish based engine leasing company ELFC (Engine Lease Finance Cooperation) acting jointly.
“This sale and leaseback transaction represents an important step in the improvement of SAS’ financial position. 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,” said Göran Jansson, SAS Group CFO. The sale and leaseback is completed by the end of July. The lease periods are four to five and a half years.
Net cash effect for SAS Group is estimated at MSEK 500.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
