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LONDON, Oct 27 (Reuters) - British airline easyJet
said it raised $398.6 million from the sale and leaseback of
nine aircraft to boost its pandemic-hit finances.
EasyJet said it will continue to review its liquidity
position and could seek more sale and leaseback deals, calling
that market "robust". Before these deals, it had already raised
608 million pounds from sale and leasebacks during the crisis.
With travel at very low levels, most European airlines are
bleeding cash.
To survive the pandemic so far, easyJet has, in addition to
the sale and leaseback deals, taken a 600 million pound loan
from the government, cut 4,500 jobs and tapped shareholders for
419 million pounds.
Media reports earlier this month said that easyJet had
signalled to the government that it may need more financial
support.
It seems there could be further opportunities to in the sale
and leaseback market where the airline said there was "high
levels of demand".
Following the completion of the two new deals announced on
Tuesday, easyJet said it will retain 152 fully owned aircraft,
representing 44% of its fleet.
EasyJet said on Tuesday that it signed two deals, one with
Wilmington Trust SP Services for five Airbus 320 aircraft for
cash sales proceeds of $191.1 million, and one with Sky High 112
Leasing Company for four A320s for cash sales proceeds of $207.5
million.
(Reporting by Sarah Young; Editing by Alistair Smout)
