Key Points:

  • Scandinavian airline SAS plans to initiate a sale-and-leaseback deal for two Airbus A320neo twinjets amidst its 'SAS Forward' restructuring process.

  • The deal, made with Irish leasing company AerDragon Aviation Partners, is part of the airline's plan to bring more liquidity under its current US Chapter 11 protection.

  • Alongside these moves, SAS has decided to retain an Airbus A330-300, previously set for release, based on increased demand for widebody aircraft in their operations.

Scandinavian airline SAS undertakes significant fleet changes
STOCKHOLM — SAS, the Scandinavian air carrier, is poised to solidify a sale-and-leaseback arrangement that involves two newly acquired Airbus A320neos. These aircraft, bearing the serial numbers 11885 and 12028, are equipped with CFM International Leap-1A engines. Details surrounding this transaction with the Irish-based AerDragon Aviation Partners have been divulged through court documents.

Detailed Review and Response to SAS's Proposal 

In its pursuit to revamp its fleet under the restructuring framework titled 'SAS Forward,' the airline reached out to a broad pool of potential lessors – around 40 – concerning the A320neos. From this outreach, SAS gathered 18 tangible offers. The airline acknowledged in its filing that these offers were not only competitive but also reflected the industry's positive perspective on the efficacy of the 'SAS Forward' initiative.

Financial and Fleet Reshaping Outcomes 

Although specific financial details are currently withheld, SAS anticipates that the agreement will augment their liquidity reserves. However, the exact dates for the jets' delivery are yet to be confirmed. Parallelly, the carrier, in an unexpected move, has chosen to retain an Airbus A330-300 with the serial number 1660. The twinjet was originally part of a collective of aircraft set to be let go as a segment of their fleet reshaping. Offering insight into this decision, SAS mentioned in a distinct filing the increasing demand for additional widebody aircraft in their operations. Furthermore, they've negotiated enhanced economic terms for the lease of the Airbus A330. The renegotiation involves the leasing entity known as Cavic 31 Designated Activity Company.