SAS | Jolco | 03-20 | $453m (est.) | 3xA350-900 | Transaction | Airfinance Journal

SAS | Jolco | 03-20 | $453m (est.) | 3xA350-900

Scandinavian Airlines (SAS) has received bids for the financing of up to four Airbus A350-900s following its request for proposals (RFP) last month.

SAS approached the market in May to finance the first four of eight aircraft of the type that will arrive between the fourth quarter of this year and the second quarter of 2020.

According to the RFP, the first aircraft will be delivered in November 2019. The remaining three units will arrive in January, February and May 2020.

The Scandinavian carrier is in the market for proposals for Japanese operating lease with call option (Jolco), finance lease and debt funding transactions.

SAS is seeking offers in both dollars and and in Japanese yen for both equity and debt.

The carrier plans to use its Irish-based asset management platform, Gorm Asset Management, and its subsidiaries for the financings.

Update: The number of a/c part of the mandate was reduced from 4 to 3. 

Update: Scandinavian Airlines System (SAS) is looking to shed two of the aircraft from its fleet.

Update: A US court has authorised the rejection of an Airbus A350-900 in Scandinavian Airlines’ fleet. The aircraft is 2020-vintage and under Japanese operating lease with call option (Jolco) financing with head lessors FLIP No.247 Co, FLIP No.248 Co, and FLIP No.249 Co from parent company Financial Products Group (FPG).

 


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Product type:
Aircraft purchase
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Aircraft Purchase
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Aircraft Purchase

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