AAirlines

EasyJet increases finances with the sale and lease 9 aircraft for $398.6 million.

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British airline easyJet said it raised $398.6 million (305.8 million pounds) from the sale and leaseback of nine aircraft to boost its pandemic-hit finances.

See also: EasyJet warns that its annual loss could exceed $1 billion.

EasyJet said it will continue to review its liquidity position and could seek more sale and leaseback deals, calling that market “robust”. Before these deals, it had already raised 608 million pounds from sale and leasebacks during the crisis, Reuters reported.

To survive the pandemic so far, easyJet has, in addition to the sale and leaseback deals, taken a 600 million pound loan from the government, cut 4,500 jobs and tapped shareholders for 419 million pounds.

See also: Lufthansa Group loses 4,161 million up to September.

Media reports earlier this month said that easyJet had signalled to the government that it may need more financial support.

Following the completion of the two new deals announced on Tuesday, easyJet said it will retain 152 fully owned aircraft, representing 44% of its fleet.

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