(Montreal) Air Canada raised nearly $ 500 million through sale and leaseback operations of nine aircraft to help offset the impact of the COVID-19 pandemic.
Posted Oct 8, 2020 at 9:03 am
The airline claims to have entered into sale-leaseback transactions of nine Boeing 737 MAX 8 & # 39; s for 485 million and long-term lease commitments of 458 million.
Chief Financial Officer Michael Rousseau said the airline has mobilized nearly $ 6 billion in cash since the start of the pandemic to overcome the challenges and uncertainty that lies ahead.
The company also recently completed two long-term financing transactions to replace $ 1.4 billion in short-term debt maturing in the next nine months.
Air Canada says it is considering other financing arrangements based on its need for additional money.