Finnair agrees sale and leaseback of A330

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Oneworld alliance carrier Finnair is entering a sale and leaseback agreement for an Airbus A330 aircraft.

The agreement covers a new aircraft delivered to Finnair at the end of November.

Finnair says the lease is for nine years. It has arranged the lease with BBAM, and an affiliate of the company will act as manager and remarketing agent for the twin-jet.

"During the credit crisis, we recognised all new long-haul aircraft in our balance sheet," says Finnair Aircraft Finance chief Maunu Visuri.

"As the leasing market has now improved, we are seeking to diversify our ownership risk once again."