newstodate.aero

Jan 05, 2023 (newstodate): Revision of existing aircraft lease contracts is one crucial element in SAS' efforts to achieve its goals set by the survival action plan, SAS Forward.
   According to media, SAS has now negotiated a revision of its leasing contract with the US company Jackson Square comprising seven Airbus A320neo and one Airbus A330-300 aircraft.
   Under the revised contract, SAS will be operating the aircraft on a Power by the Hour basis, drastically reducing the costs of the original leasing contract.
   The contract with Jackson Square was inked in November 2016 under a sales/lease-back agreement for the aircraft delivered between 2016 and 2018.
   By October 5, 2022, SAS had reached agreements to amend the terms of existing aircraft and equipment lease contracts with 10 lessors - AerCap Holdings N.V., Aergo Capital Limited, Aircastle Limited, ALAFCO Aviation Lease and Finance Company, Avolon Aerospace Leasing Limited, CDB Aviation, Dubai Aerospace Enterprise Ltd., ICBC Aviation Leasing Co., Ltd., ORIX Aviation Systems Limited. and SDH Wings International Leasing Limited - representing a total of 36 aircraft.
   Later on November 1, 2022, SAS announced the successful closing of amended lease agreements with two additional lessors, Carlyle and SMBC.
   The two lessors represent seven narrow-body aircraft, and combined with the previously announced amended agreements, SAS reached agreements with 12 of its lessors, representing 43 aircraft.
   And on November 15, 2022, SAS again announced an agreement with one additional lessor, the Boeing leasing company Bocomm, representing three Boeing 737 aircraft, to amend the terms of existing aircraft and equipment lease agreements, bringing the total of agreements with lessors to a new total of 46 aircraft.