Finnair uses rights-issue funds to acquire previously-leased A321s
Finnair has used proceeds from its recent rights issue to purchase six Airbus A321s from lessor BOC Aviation. The airline says the twinjets were previously on lease. It states that the transaction amounts to over E200m and will generate a positive annual impact of E20m on pre-tax profit and cash-flow. The airline conducted a share issue in November which raised around E570m in gross proceeds. Finnair says it has used part of the funding to repay a E120m tranche from a E600m pension premium loan as well as the previously-planned E100m instalment. The remaining loan totals E280m which, the airline adds, will be repaid no later than May 2025. It expects the extra repayment will have a E3m effect on pre-tax profit during 2024, in the form of lower interest costs.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2023-12-20/oneworld/finnair-uses-rights-issue-funds-to-acquire-previously-leased-a321s
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Finnair uses rights-issue funds to acquire previously-leased A321s
Finnair has used proceeds from its recent rights issue to purchase six Airbus A321s from lessor BOC Aviation. The airline says the twinjets were previously on lease. It states that the transaction amounts to over E200m and will generate a positive annual impact of E20m on pre-tax profit and cash-flow. The airline conducted a share issue in November which raised around E570m in gross proceeds. Finnair says it has used part of the funding to repay a E120m tranche from a E600m pension premium loan as well as the previously-planned E100m instalment. The remaining loan totals E280m which, the airline adds, will be repaid no later than May 2025. It expects the extra repayment will have a E3m effect on pre-tax profit during 2024, in the form of lower interest costs.<br/>
