The British airline EasyJet announced on Tuesday that it had strengthened its liquidity a little more, in view of the crisis in the sector caused by the pandemic, thanks to the sale of nine planes for more than 300 million pounds.
The transactions provide that these aircraft, Airbus 320s, will be sold to companies specializing in aircraft leasing, according to a statement.
Read also: EasyJet dives into red for the first time in its history
EasyJet will then sign a contract with these companies in order to be able to lease the devices and continue to use them, and this for a period of nearly ten years, according to a press release.
The group explains that it decided to proceed with these transactions with two companies after observing a very high level of demand from aircraft lessors wishing to acquire aircraft.
Once the operations are completed, the company will own 152 aircraft, or about 44% of its fleet.
It specifies that it will continue to assess the possibility of further increasing its liquidity, including by selling and re-leasing devices.
To survive this crisis, EasyJet has significantly boosted its cash flow in recent months, to the tune of £ 2.4 billion in total since the start of the pandemic, not counting Tuesday's announcement.
For example, the company raised £ 419 million through an issue of new shares and obtained a £ 600 million loan from the UK government.
EasyJet has also renegotiated Airbus orders.
The group is in a difficult position, like the rest of the sector, due to the lasting impact of the health crisis on tourism and business travel.
The recovery observed during the summer seems further compromised by the second wave of the pandemic and more vigorous restriction measures in Europe and the quarantine imposed by the United Kingdom on travelers from several countries.
Read also: Generalized slump for air transport
EasyJet will only operate at 25% of its planned capacity between October and December, i.e. the first quarter of its 2020-2021 fiscal year.
The group also suffered the first annual loss in its 25-year history for the 2019-2020 financial year ended at the end of September.
