Air Canada sold nine Boeing 737-Max-8s to two leasing companies, adding $ 365 million to its cash register. It is a so-called sale-and-leaseback deal, so that the carrier can continue to use the machines that are currently not allowed to fly.

Three units went to Jackson Square Aviation and the remainder to Avolon Aerospace Leasing. The nine B737-Max-8s are now on long-term lease from Air Canada. The expenses for the installments were put at 345 million US dollars. “Since the beginning of the COVID-19 crisis, Air Canada has gained multiple access to the financial markets and successfully raised nearly $ XNUMX billion in liquidity on reasonable terms, including this transaction, as liquidity levels continue to be maintained to cope with the crisis to mitigate challenges and uncertainties ahead. We are excited to continue our strong relationship with Avolon and to establish a new relationship with Jackson Square Aviation, ”said Michael Rousseau, Air Canada Vice Chairman and Chief Financial Officer.