Outrigger Hotels and Resorts

Published on Tuesday, October 27, 2020

EasyJet raises hundreds of millions through aircraft lease deal

EasyJet has raised more than £305 million through the sale and leaseback of nine Airbus aircraft to two different parties.

Once the two transactions are completed, easyJet will retain 152 fully-owned aircraft, representing approximately 44% of its fleet.

In a statement to the London Stock Exchange this morning, the airline said it 'will continue to review its liquidity position on a regular basis and will continue to assess further funding options, including those that exist in the robust sale and leaseback market'.

Over the terms of the nine leases the average incremental net annual headline cost reflected in easyJet's income statement will be about £15 million, which is driven by increases in interest charges and depreciation, it said.

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