Finnair releases one of its spare engines
24-Sep-2009 Finnair has made a sale-and-leaseback transaction with Engine Lease Finance Corporation (ELFC) on one new General Electric CF6-80E1 spare engine used in Airbus A330 aircraft. The euro denominated list price is approximately 13 million euro. The leasing agreement was made for ten years.
ELFC is the world's leading independent spare engine financing and leasing company, specialising in the provision of medium to long-term spare engine support packages for the airline industry. Finnair uses also other engines leased from ELFC. The new agreement strengthens co-operation further between the companies.
A month ago, Finnair carried out same type of an arrangement for part of Finnair's property. The arrangements altogether improve Finnair's liquidity by around 90 million euro.