newstodate.aero
Copenhagen, FEB 03, 2003 (newstodate): As part of an on-going long-haul fleet renewal, Finnair has sold its oldest MD-11 aircraft and leased it back for some six years.
This is the second such deal within a month. The combined sales price of the two aircraft is approximately 70 million dollars. The sale-lease cack arrangements enable Finnair to plan the
retirement of its long-haul MD-11s at the end of the decade.
The use of sale-leaseback transactions is part of the risk management of the resale value of the fleet.
At the end of the 1990s, Finnair reorganised its MD-80 aircraft ownership by selling 13 aircraft and leasing them back for several years.
In spring 2003, the company will lease one more MD-11, increasing the number of MD-11s to five. The additional capacity is directed mainly at the growing Asian market.
Finnair has also sold two 123-seater DC-9s to the Guatemalan Tikal Jets Airlines.
Finnair plans to retire all its DC-9s this year, and renew the fleet with Airbus A320 aircraft.
By the end of the year, Finnair will have 24 Airbus aircraft in its fleet.
This is the second such deal within a month. The combined sales price of the two aircraft is approximately 70 million dollars. The sale-lease cack arrangements enable Finnair to plan the
retirement of its long-haul MD-11s at the end of the decade.
The use of sale-leaseback transactions is part of the risk management of the resale value of the fleet.
At the end of the 1990s, Finnair reorganised its MD-80 aircraft ownership by selling 13 aircraft and leasing them back for several years.
In spring 2003, the company will lease one more MD-11, increasing the number of MD-11s to five. The additional capacity is directed mainly at the growing Asian market.
Finnair has also sold two 123-seater DC-9s to the Guatemalan Tikal Jets Airlines.
Finnair plans to retire all its DC-9s this year, and renew the fleet with Airbus A320 aircraft.
By the end of the year, Finnair will have 24 Airbus aircraft in its fleet.