Finnair sells another Airbus A350 for 12 year lease

Finnair has sold another A350 to a leasing firm and will be renting back the airplane for a term of at least 12 years. It’s the latest move in the airline’s many-pronged mission to raise capital, as it awaits the outcome of a $488m loan from the Finnish government. Amid the chaos of 2020, Finnair has again sold and leased back one A350-900 in a bid to raise cash. Finnair said Thursday that the aircraft will be sold to BBAM Aviation Services Limited, with Incline B Aviation Limited Partnership as a lessor guarantor, and leased back for a period of 12 years. The airline took delivery of the plane in April 2019, one of 19 ordered by Finnair. So far, a total of 16 A350s have been delivered to the airline, but with the slump in international travel still ongoing, the need for cash is more pressing than the need to own planes. The deal, it says, will see it raising immediate capital of more than E100m.<br/>