easyJet strengthens balance sheet with additional US$266m sale-and-leaseback deal

©easyJet

With further problems ahead for one of Europe’s largest low-cost carriers, easyJet has announced it has managed to raise an additional US$266 million through a sale-and-leaseback deal of aircraft.

This brings the total raised for the sale and leaseback of 23 aircraft to US$1.09 billion, which is at the upper end of guidance for proceeds. “easyJet will continue to review its liquidity position on a regular basis and will continue to assess any further funding opportunities,” the airline said in a statement.

Although the low-cost carrier has re-commenced flying after a recent total shut-down owing to the COVID-19 pandemic, further uncertainty looms as both France and Spain, two very popular destinations for British travelers, have been added to the U.K.’s list of quarantined countries, where anyone flying into the U.K. from a quarantine-listed country will be required to self-quarantine themselves for a period of fourteen days immediately upon arrival.

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