Latvian carrier Air Baltic has appointed Skytech-AIC to arrange sale-and-leaseback funding for 10 Airbus A220-300s.

The UK-based company arranged financing for 12 jets of the same type for Air Baltic in 2018.

"Both of last year's transactions [covering six aircraft each] were exceptionally well received," states Skytech-AIC director John Taylor. "Both were greatly oversubscribed, demonstrating that the Airbus A220-300 and Air Baltic are a highly desirable combination for investors and we are confident that this new transaction will receive an even warmer reception."

Air Baltic leases 13 of its 14 A220-300s in service from lessors including Avation, CMB Financial Leasing and Nordic Aviation Capital, Cirium's Fleets Analyzer shows.

The airline – which is on track to become an all-A220 operator by 2023 – will take a total of seven A220-300s this year and 12 more in 2020.