Court papers from SAS’s restructuring process show that the carrier is intending to enter a sale-and-leaseback covering 10 Airbus A320neo twinjets.
The agreement involves US lessor Aviation Capital Group and one of SAS’s affiliate entities, Gorm Asset Management.
SAS is re-organising its business, including its fleet, under US Chapter 11 protection.
Court documents filed on 10 January state that the sale-and-leaseback is the subject of a letter of intent dated 21 December 2022.
The documents request confidential treatment of commercially-sensitive information contained in the agreement – including the purchase price for the aircraft and the lease payments, as well as maintenance and insurance obligations.
According to the filing the transaction terms agreed were the result of negotiations aimed at progressing the airline’s ‘SAS Forward’ restructuring programme.