Shannon Ireland, 28 September 2021 – Finnair has entered into a Purchase-Leaseback (PLB) agreement for four currently operating Airbus A350-900s with GECAS and Gilead Aviation, the joint venture between GECAS and Pacific Investment Management Company LLC (“PIMCO”). The arrangement includes in-service aircraft, with three being purchased by GECAS and one by Gilead Aviation.
Finnair’s OH-LWK (A350-941 MSN 0113) at JFK Airport, June 2021
The national flag carrier of Finland, Finnair, was the third airline to ever operate Airbus’ A350-900, taking delivery in October 2015 through a PLB of the aircraft with GECAS. Finnair currently operates 16 of this type and has a further three on order.
The new technology large widebody Airbus A350 utilizes advanced lightweight materials, new engine technology and wing-morphing aerodynamics to reduce fuel consumption and CO2 emissions by 25% versus prior generation types.
“We have found the A350 to be a great complement to Finnair’s fleet, providing a comfortable and reliable experience for our long-distance travelers,” Christine Rovelli, Finnair’s SVP Finance and Fleet Management, said, adding “Likewise, we have found GECAS to be a reliable and valuable source to support our fleet requirements.”
“GECAS is extremely grateful for the decades-long relationship we’ve shared with Finnair. We’re proud to be able to support such an outstanding operator with a range of customized solutions and arranging financing on their aircraft both pre- and post-delivery,” shared Alan Buckley, GECAS’ SVP & Region Manager.