Finnish flag carrier Finnair has sold one of its 15 A350s to raise money. The airline has undertaken a sale and leaseback of the aircraft and will continue operating it on a leased basis.
This, it says, has improved its cash position by some €100 million ($118m).Finland’s flag carrier starts co-operation negotiations on its plan to reduce up to 1,000 jobs, to make other structural changes and to implement additional temporary layoffs due to the impacts of the corona pandemic.
The A350 sold was originally delivered to Finnair in February 2020. It is the newest A350 in the fleet and is registered as OH-LWP. It has been in regular service for Finnair since it entered operations, flying to Bangkok, Shanghai, Tokyo and Delhi amongst other destinations.
The co-operation negotiations concern approximately 2,800 employees working at the airline in Finland, and similar processes are conducted in the airline’s units abroad.
Helsinki-based airline also continues long-term temporary layoffs for thousands of employees.
To gain liquidity, Finnair will also sell an A350-900 aircraft in a sale and leaseback deal.