SAS arranges A330 leaseback with Chinese bank

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SAS Group has agreed a sale and leaseback with Chinese bank Bocomm covering four Airbus A330-300s.

The aircraft, which are due to be delivered during 2015-16, will be subject to a 12-year lease from the bank.

SAS Group chief financial officer Goran Jansson says the bank will be a "very good partner" for the Scandinavian company, adding that the pact "secures financing" for the initial renewal of Scandinavian Airlines' long-haul fleet.

"This is SAS's first large agreement with a Chinese counterpart," Jansson adds.

The four A330s, which have a list price of around $1 billion, will be powered by Rolls-Royce Trent 700 engines.

SAS Group disclosed last year that it was taking the A330s as part of a broader fleet-renewal programme that would include acquiring eight Airbus A350-900s.