SAS Scandinavian Airlines has decided to outsource ownership of its four new Airbus A330-300 Enhanced to China. The Swedish-Danish-Norwegian flag carrier signed a sale-and-leaseback agreement on Friday 22 August with the Hongkong based bank of Bocomm.
The newly ordered aircraft are planned to stream into the fleet in Q4 2015 and Q1/Q2 2016 and will upon delivery arrival be sold directly to Bocomm, after which SAS will rent the planes back for a 12 year period.
The ownership outsourcing is the first such a deal between SAS and Bocomm and is meant to spread the financial responsibilties for the Scandinavian airliner that is slowly getting onto more steady financial feet after years of struggling.
The list price for the 4 Airbus A330-300 Enhanced is approximately USD 1 billion.
Source: SAS, with additional reporting by Airheadsfly.com editor Marcel Burger