Aviation Capital Group one of the leading global full-service aircraft asset managers, has announced the delivery of one new Airbus A320neo aircraft on long-term lease to the financially constrained Scandinavian Airlines. This jet is powered by CFM International LEAP-1A engines and will be used to bolster the carrier's fleet. ACG advised this is the eleventh aircraft it is scheduled to deliver to the airline as part of a multiple-aircraft sale-leaseback transaction between ACG and SAS, which helps the airline form a more secure financial position.
ACG specializes in commercial aircraft leasing and aviation finance, with approximately 490 owned, managed and committed aircraft as of December 31, 2023, leased to roughly 90 airlines in approximately 45 countries.
The flag carrier of Scandinavia is all set to join the SkyTeam Alliance on 1 September 2024 after completing a series of negotiations and signing the alliance's adherence agreement.
This news will mean in future, SAS customers will benefit from seamless products as well as enjoy more travel options to several previously unserved destinations via the alliance member airlines. All EuroBonus members will benefit from earning and burning points, while Gold and Diamond members will enjoy SkyPriority services and lounge access.
The company also deferred interest payments due on 23 and 26 April this year on its perpetual capital securities, as part of the airlines's voluntary Chapter 11 process in the U.S and its reorganization proceeding in Sweden. The airline says the deferral of interest payment is made in accordance with the terms and conditions for the respective capital securities. But have done little to quell rumours that the carrier will not exit Chapter 11 this year or early next year.