As part of SAS’s focus on optimizing the capital structure and reduce financing costs, SAS has agreed to refinance two Boeing 737 and four Airbus A319 with a credit facility of MUSD 75 including Standard Chartered Bank and Norddeutsche Landesbank.
The facility matures in January 2023. The aircraft will be refinanced in the period until January 2018 and were previously financed through lease agreements.
As part of the transaction, SAS has also entered into a Sale and leaseback transaction with Standard Chartered Bank for the first two delivered Airbus A320neo with CFM Leap-1A engines during 2016 with a lease period of ten years.
The Scandinavian Airlines’ fleet consists of Airbus A319, A320, A321, A330 and A340, Boeing 737 Next Generation, and Bombardier CRJ900 aircraft. In addition, SAS also wetleases ATR 72, Saab 2000 and Bombardier CRJ900 aircraft.