Finnair closes A321 sale and leasebacks with NBB

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Finnair has entered into a sale and leaseback agreement with a Japanese aircraft leasing company Nomura Babcock & Brown (NBB) for two new Airbus A321 aircraft.

The 12-year lease transaction was arranged by US-based lessor BBAM.

“The current good state of the aircraft financing market allows sale and leaseback arrangements on very competitive terms," says Finnair's chief financial officer Erno Hildén.

“Thanks to our strong balance sheet, we are in a position to flexibly choose the most economical financing sources when renewing our fleet - and at the same time optimize the balance between owned and leased aircraft," he adds.

Finnair ordered a total of five Airbus 321s from Airbus in 2010.

The first aircraft (MSN 5758) delivered on 5 September. Two more aircraft will be delivered in the final quarter of this year and the final two in the first quarter of 2014.