EasyJet is set to raise more than £300 million through the sale and leaseback of nine aircraft in an effort to strengthen its balance sheet amid the ongoing coronavirus crisis.
The airline has come to terms, "following high levels of demand from the operating lease marketplace", with two partners over nine Airbus A320 family aircraft, which will generate £305.7 million.
Wilmington Trust SP Services (Dublin) Limited will take on five of the aircraft, and the Sky High 112 Leasing Company Limited another four.
Upon completion, easyJet will retain 152 fully owned and unencumbered aircraft, with represents around 44% of its fleet.
EasyJet has also pledged to continue reviewing its cash reserves while assessing further funding options, such as additional sale and leaseback agreements.