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TUI AG: Completion of Aircraft sale and leaseback agreement with BOC Aviation Limited


TUI AG (TUI)
TUI AG: Completion of Aircraft sale and leaseback agreement with BOC Aviation Limited

03-Aug-2020 / 08:00 CET/CEST
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TUI Group - Completion of Aircraft sale and leaseback agreement with BOC Aviation Limited

 

Hanover, 3.8.2020. TUI Group confirms the signing of a sale and leaseback ("SLB") agreement with BOC Aviation Ltd for five new Boeing 737 MAX-8 aircraft for the aggregate sum of $226m (~€193m).

 

The first aircraft is expected for delivery in the first quarter of FY21 with the remaining four aircraft expected to be delivered ahead of the Summer 2021 season.

 

In line with our asset-right strategy as outlined in our FY19 year-end results, the SLB agreement with BOC Aviation Ltd will finance five new Boeing 737 MAX-8 aircraft as part of our planned re-fleeting programme.

 

We expect the lease agreement with BOC Aviation Ltd, on standard commercial terms, to create a total lifetime lease obligation of around €223m to commence by the end of FY21.  We expect further SLB financing on our future deliveries beyond FY21, in line with our newly agreed deferred re-fleeting programme with Boeing.

 



ISIN: DE000TUAG000
Category Code: AGR
TIDM: TUI
LEI Code: 529900SL2WSPV293B552
OAM Categories: 3.1. Additional regulated information required to be disclosed under the laws of a Member State
Sequence No.: 79438
EQS News ID: 1107549

 
End of Announcement EQS News Service

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