easyJet sells 11 more A320s for $169.5mn

easyJet (U2, London Luton) has agreed to sell and lease back a total of eleven A320 Family aircraft to two lessors for total cash proceeds of USD169.5 million. Ten A320s were sold for a total of USD124.5 million to ACS Aero 2 Beta Limited, an SPV that is used by lessor Aero Capital Solutions, which thus far has not placed any aircraft with easyJet. The ten narrowbodies will be leased back by the airline for an average term of 58 months. An additional A320 Family aircraft was sold to an unidentified lessor through JLPS Holding Ireland Limited for USD45 million. easyJet said that for the duration of the leasebacks, the total net annual headline costs for the 11 aircraft would increase by about GBP6.4 million pounds (USD8.4 million). “On completion of these further sale and leaseback transactions, easyJet now retains 141 fully owned and unencumbered aircraft, representing approximately 41% of the fleet. easyJet will continue to review its liquidity position on a regular basis and will continue to assess further funding options, including those that exist in the robust sale and leaseback market,” the British LCC said.