Nov 09, 2016: Scandinavian Airlines (SAS) has agreed to refinance two Boeing 737 and four Airbus A319 with a credit facility of MUSD 75 including Standard Chartered Bank and Norddeutsche Landesbank.
This step is part of SAS’s focus on optimising the capital structure and reduces financing costs.
The facility matures in January 2023.
The aircraft will be refinanced in the period until January 2018 and were previously financed through lease agreements.
As part of the transaction, SAS has also entered into a Sale and leaseback transaction with Standard Chartered Bank for the first two delivered Airbus A320neo with CFM Leap-1A engines during 2016 with a lease period of ten years.