Finnair has used proceeds from its recent rights issue to purchase six Airbus A321s from lessor BOC Aviation.

The airline says the twinjets were previously on lease.

It states that the transaction amounts to over €200 million ($219 million) and will generate a positive annual impact of €20 million on pre-tax profit and cash-flow.

The airline conducted a share issue in November which raised around €570 million in gross proceeds.

Finnair says it has used part of the funding to repay a €120 million tranche from a €600 million pension premium loan as well as the previously-planned €100 million instalment.

The remaining loan totals €280 million which, the airline adds, will be repaid no later than May 2025.

It expects the extra repayment will have a €3 million effect on pre-tax profit during 2024, in the form of lower interest costs.

Finnair A321-c-Olivier Cabaret Creative Commons

Source: Olivier Cabaret/Creative Commons

Finnair leased several International Aero Engines V2500-powered A321s from BOC Aviation