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EasyJet raises £608 million by selling 23 aircraft

Air
Rob Gill
14 August 2020

EasyJet has secured £608 million through the sale and leaseback of 23 aircraft to leasing companies.

EasyJet has 168 more efficient Airbus Neo aircraft on order through to 2029

The completion of the sale and leaseback programme means easyJet has now raised £2.4 billion since the start of the Covid-19 pandemic earlier this year. 

“The proceeds of the sale will be used to maximise liquidity and further strengthen easyJet’s financial position,” said the airline in a statement.

EasyJet revealed plans for the sale and leaseback of some of its fleet in May, as part of a wider fundraising effort to see the company through the coronavirus crisis.

The Luton-based carrier has also secured £600 million from the UK government’s Covid Corporate Financing Facility, as well as issuing £419 million in new shares, alongside loans and a credit facility.