Finnair signs Memorandum of Understanding on sale and leaseback of six ATR 72 aircraft

Finnair has signed a Memorandum of Understanding (MoU) with Doric Asset Finance GmbH & Co. KG for the sale and leaseback of six ATR72 aircraft. The transaction is expected to be closed by the end of March 2015. The value of the transaction is approximately €75m. The aircraft included in the arrangement are currently operated by Finnair’s associated company Flybe Finland. The aircraft lease agreements between Finnair and Doric Asset Finance GmbH & Co. KG expire on average after 8 years. After the transaction is closed, Finnair will sublease the aircraft to Flybe Finland. The proceeds from the transaction will be used to finance Finnair fleet investments in the coming years. Finnair has ordered 19 Airbus A350 aircraft.