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8/14, 8:17 AM (Source: TeleTrader)
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EasyJet gets £608M from airplane sale, leaseback

Easyjet gathered £608 million after it finished its sale and leaseback program, the company said in a statement released on Friday.

The low-cost airline pointed out that the program included 23 aircraft and that all the funds will be used to boost liquidity and strengthen the company's finances which have suffered as a result of the COVID-19 pandemic.

Easyjet stressed that the sale and leaseback program helped it raise £2.4 billion since the coronavirus pandemic started. Other sources of the money include the British government's COVID-19 corporate funding facility, loans, equity issuance as well as drawing down its revolving credit facility.

Breaking the News / VP