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Finnair to put positive spin on results

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Airline marks delivery of eighth A350 with sale and leaseback
Finnair has finalised a sale and leaseback deal on delivery of its eighth A350 aircraft, which the airline says will have a positive effect on its operating results.
The arrangement, announced previously as a memorandum of understanding, sees Finnair selling the Airbus A350, delivered this week, to GE Capital Aviation Services (GECAS) and leasing the plane back for its own operations.
The initial lease period is 12 years with possible extension options.
The deal will have “a positive effect of approximately 50 million euro on Finnair’s operating result for the second quarter of 2017”, the airline says, “comprising a gain on sale and currency gains on pre-delivery payments and hedges”.
Finnair has ordered a total of 19 new A350-900 XWB aircraft from Airbus, of which eight have now been delivered. It is due to have a total of 11 A350s by the end of 2017 and all 19 by the end of 2023. Finnair says it now has the flexibility to pay for the remaining three deliveries for 2017 in cash.
TTG Nordic

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