MIAMI – easyJet (U2) successfully concluded the sale and leaseback program for a total of 23 aircraft.
Following the difficulties due to COVID-19, U2 starts a program to strengthen its financial position.
The UK based airline raises US$771m (€652,08m) with this deal from the estimated US$650m.
The A321Neo Deal
easyJet completed with Shan 37 Ireland Company Limited (a wholly-owned subsidiary of BOCOMM Leasing) the biggest deal for leasing.
With the deal, U2 earns roughly US$266m with the lease of five Airbus A321Neo.
Among these, U2 will earn roughly US$130m generated by the lease obligations.
easyJet Liquidity Reaches US$3.15bn
Following the successful conclusion of this sale and leaseback program, U2 has now raised over US$3.15bn.
This amount comes from the US$787m financial aid from the UK Government, US$525m from drawing down the Revolving Credit Facility, US$525m from two-term loans, and US$550m of equity issuance.
easyJet in order has a different projects ready to be activated to saccesefully mantain its financial position stable.
The most important are the continued review of its liquidity position and assessment of further funding opportunities.
Featured image: easyjet. Photo: Mark Harkin