Topic Author
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Finnair Sold OH-LGA

Thu Feb 06, 2003 3:43 pm

Finnair has announced on monday this week that they have sold and leased back their oldest MD11 (OH-LGA). The lease-back agreement is for six years. For a month ago they did the same thing with another MD11. The newest one to come this spring to their fleet (LGE) is also leased so AY owns only two of their total of five MD11s.

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Lord Howe Island - The Last Paradise
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RE: Finnair Sold OH-LGA

Thu Feb 06, 2003 7:47 pm

Why would Finnair sell a aircraft that they own only so that they could lease it back???  Confused  Confused  Confused
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RE: Finnair Sold OH-LGA

Thu Feb 06, 2003 8:13 pm

Its a common practice among airlines. SIA did that on a few of its planes too.
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RE: Finnair Sold OH-LGA

Thu Feb 06, 2003 9:49 pm

It's just a matter of cold hard cash...

By selling an airplane and leasing it back, Finnair will get the cash up front, and just pay leasing fee every fixed period (monthly, quarterly, etc). In the long run it will be more expensive, but when the airline needs cash immediately, this might be the best option.

Topic Author
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RE: Finnair Sold OH-LGA

Thu Feb 06, 2003 10:44 pm

It is also a matter of renewing their fleet. Now they know excactly when they get rid of these planes and can plan their future long haul fleet accordingly.

AY has sold two of their 122 pax DC9s to Tikal Jets Airlines from Guatemala. Their plan is to sell all (resting six) of their DC9s so that they can concentrate more on their Airbus 320 -family. By the end of this year AY will have 24 Airbuses (319-321).

At least 13 of AYs altogether 15 current MD80 fleet are also leased.

Maybe this selling and leasing back of MD11s means that their future long haul fleet will also come from Airbus.
Lord Howe Island - The Last Paradise
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RE: Finnair Sold OH-LGA

Fri Feb 07, 2003 1:57 pm

It's sad to hear that the first pax service MD-11 was sold, but oh well, more better things come up in the future, I wonder will they go Boeing B777 or Airbus A340? Hmmmmm...
The sky is not the limit...
Mr AirNZ
Posts: 888
Joined: Sat Feb 02, 2002 10:24 am

RE: Finnair Sold OH-LGA

Fri Feb 07, 2003 2:53 pm

If you read above you will see that even though they have sold it, they still plan to operate it until 2009. It does not matter who 'owns' the aircraft, it will still be used to carry passnegers for the foreseeable future.

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