Etihad finalizes $367 million engine sale/leaseback deal

Posted 13/01/2012

Etihad Airways (EY) has finalized a $367 million sale/leaseback deal with Sanad Aero Solutions and Engine Lease Finance Corp. (ELF) to finance 23 spare engines.

The transactions, which are for a 10-year operating lease, cover the financing for 16 in-service spare engines and seven future spare engine deliveries.

Sanad will buy and lease back five GE90 and six Rolls-Royce Trent 500 engines. ELF will purchase and lease back six Trent 700 and six IAE V2500 engines, EY said. The spare engines are for EY’s fleet of passenger and cargo aircraft.

Originally published 12 Jan 2012 at: http://feeds.atwonline.com/~r/AtwDailyNews/~3/o-bkeyFozSU/etihad-finalizes-367-million-engine-saleleaseback-deal-0112

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