Finnair finalises sale and leaseback of three Embraer 190

Finnair signed on 17 December 2014 a Memorandum of Understanding (MoU) with GOAL German Operating Aircraft Leasing GmbH & Co. KG (GOAL) for the sale and leaseback of three Embraer 190 aircraft. The transaction has now been concluded. The value of the transaction was approximately 60 million euros at current market value and the transaction will not have a significant impact on Finnair’s 2015 operating result.

The aircraft lease agreements between Finnair and GOAL expire on average after 8 years. The aircraft included in the arrangement are currently operated by Finnair’s associated company Flybe Finland, to whom Finnair subleases the aircraft.

The proceeds from the transaction will be used to finance Finnair fleet investments in the coming years. Finnair has ordered 19 Airbus A350 aircraft.