easyJet PLC - Aircraft Sale and Leaseback
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easyJet Statement - Aircraft Sale and Leaseback
Following high levels of demand from the operating lease marketplace, easyJet is pleased to confirm that it has engaged with a number of operating lessors to raise further liquidity, which will be used to further strengthen easyJet's financial position. easyJet confirms the sale and leaseback of nine aircraft with two counterparties. The transactions generate total cash proceeds of
The first transaction was executed with Wilmington Trust SP Services (Dublin) Limited for the sale and leaseback of five Airbus 320 family aircraft. The aircraft will generate cash sales proceeds of
The second transaction was executed with Sky High 112 Leasing Company Limited for the sale and leaseback of four Airbus 320 family aircraft. The aircraft will generate cash sales proceeds of
Over the terms of the nine leases the average incremental net annual headline cost reflected in easyJet's income statement will be c.
Once these two transactions are completed, easyJet will retain 152 fully owned and unencumbered aircraft, representing approximately 44% of the fleet.
easyJet 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.
For further details please contact easyJet plc:
Institutional investors and analysts:
A copy of this statement is available at http://corporate.easyjet.com/investors
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