SAS completes sale/leaseback of 4 Airbus A330

SAS Scandinavian Airlines secured financing of 4 Airbus A330-300 through the signing of a sale and leaseback agreement with the Chinese bank Bocomm. The aircraft will be delivered during the latter part of 2015 and the beginning of 2016.

The agreement means that SAS, at the time of delivery for respective aircraft, will sell the aircraft to Bocomm and then lease it back during a term of 12 years.

„It is with pleasure that I today signed an agreement that secures financing of the first phase of SAS‘ long haul fleet renewal through the delivery of 4 Airbus A330-300 Enhanced. This is SAS first large agreement with a Chinese counterpart and Bocomm will become a very good partner for SAS, says Göran Jansson Executive Vice President and CFO for the SAS Group.

The list price for 4 Airbus A330-300 Enhanced is approximately USD 1 billion.