EasyJet Sells Jets to Add $400 Million to Cash Reserves
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EasyJet Plc sold more jets to aircraft lessors, raising almost $400 million to pad its finances against a surge in Covid-19 cases that’s pushed a travel recovery into next year.
The U.K. discount airline said it sold nine Airbus SE A320 jets in two transactions, and will lease the planes back for almost 10 years, according to a statement Tuesday. Following the transaction, the carrier will own 152 aircraft, or 44% of its fleet, it said.