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EasyJet secures further £200m from aircraft sales

Air
James Chapple
26 June 2020

EasyJet has secured a further £200 million in contingency funds from the sale and leaseback of six Airbus A320neo aircraft.

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

The sale was confirmed in a note issued to the stock exchange on Friday morning (26 June), which detailed proceeds of $255 million (£206 million).


The transaction is part of a broader effort to raise between £500 million and £650 million through aircraft sales and leasebacks, set out in late May.


EasyJet confirmed on Friday the cash would be use to "maximise liquidity" and "further strengthen" its financial position amid the coronavirus crisis.


The net book value of the aircraft, which range from six months to two years of age, was around £141 million as of 31 March, said the carrier.