Swissair Group has completed a deal with International Lease Finance (ILFC) whereby ILFC will take over orders for new aircraft originally destined for the airline's cash-strapped leasing arm, Flightlease. The move is designed, Swissair says, to improve cash flow as it implements a restructuring plan. Under the agreement, ILFC will buy six Airbus types including an unwanted new A340-300 ordered by affiliate Sabena. The leasing company will also take a new A330-200 and four narrowbodies which will be leased back to Swissair.

Source: Flight International