EasyJet sells nine A320s, here’s how much the buyers paid

In a bid to raise cash to help it through the winter, the low-cost carrier has agreed the sale of some of its A320 Family aircraft 

Luton-based easyJet has signed a series of sale and leaseback agreements covering nine Airbus A320 Family aircraft.

The two deals – which are with a pair of separate counterparties – are expected to generate total cash proceeds of £305.6m.

The firm has agreed the sale of five A320s to Ireland’s Wilmington Trust SP Services for £146.5m, which will then be leased for an average term of 117 months, creating lease obligations of £123.7m. At this price, each jet was sold for an average price of £29.2m, compared with an average list price of around £80m each in 2018.

easyJet
Easyjet Group currently operates an all-Airbus fleet comprising 322 examples. Aviation Image Network/Simon Gregory

The second transaction was executed with Sky High 112 Leasing Company for the sale and leaseback of four A320 Family aircraft. The cash generated from this agreement totals £159.1m and the airframes are expected to be leased back for an average period of 116 months, creating lease obligations of £108m. For this sale price, each aircraft was purchased by Sky High for an average cost of £39.7m.

Once these two transactions are completed, easyJet will retain 152 fully owned and unencumbered aircraft, representing approximately 44% of its fleet.

The airline says it will continue to review its liquidity position on a regular basis and further assess funding options, “including those that exist in the sale and leaseback market,” a statement to investors said.