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SAS Enters Into Sale-Leaseback Agreements for 10 New Airbus A320neos With Aviation Capital Group

SAS has secured long-term financing for 10 new Airbus A320neos by entering into a sale and leaseback agreements with Aviation Capital Group. The aircraft are scheduled for delivery through FY2024.


SAS Airbus A321neo - Courtesy Airbus

On Thursday (March 2, 2023), SAS announced that they have entered into sale and leaseback agreements with Aviation Capital Group (ACG) for ten new Airbus A320neos. The aircraft are scheduled for delivery through FY2024. The transaction secures long-term financing for the airplanes, and aligns with the SAS FORWARD transformation plan. SAS is in the process of reducing their cost structure, with the goal of emerging from reorganization as a more efficient and competitive carrier.


In Thursday’s announcement, SAS’ CEO, Anko van der Werff, said,


“We continue to make progress with our transformation plan and these new sale and leaseback agreements are an important part of that – securing competitive financing for our renewed fleet of modern and fuel-efficient aircraft. We are pleased to renew our long-term strategic partnership with ACG, one of the world’s leading aircraft financing partners.”


Also commenting on the sale-leaseback agreements, ACG’s President and CEO, Tom G. Baker, added,


“ACG is honored to welcome SAS as a renewed strategic partner. We are delighted to support the SAS FORWARD transformation plan with this sale-leaseback transaction for SAS’ latest technology and fuel-efficient aircraft.”


SAS is the leading airline in Scandinavia, typically carrying over 30 million passengers annually from its main hubs in Copenhagen, Oslo and Stockholm to 125 destinations in Europe, the US and Asia (pre-pandemic figures). The company has targeted a reduction in carbon emissions by 25 percent by 2025, compared to 2005 levels, and hopes to transition to 100% biofuel for domestic flights by 2030. SAS also offers ground handling services, technical maintenance and cargo services. The carrier is a founding member of the Star Alliance, which celebrated their 25th anniversary in 2022.



Source: SAS/Cision

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