Manufacturing Industry
South African Airways forms new agreements for fleet renewal - Brief Article
Airline Industry Information, June 8, 2000
AIRLINE INDUSTRY INFORMATION-(C)1997-2000 M2 COMMUNICATIONS LTD
South African Airways (SAA) and Safair, an air services company, have reached a new lease-back agreement valued at about ZAR500m.
Under the deal Safair will buy and lease back SAA's entire fleet of 13 Boeing 737-200 aircraft according to Business Day.
In related news, SAA has agreed to sell its 15 Airbus Industrie aircraft to Flightlease, a subsidiary of the SwissAir Group, and GATX Capital.
The transaction will raise about USD290m which will be used by SAA to purchase 21 new Boeing 737-800s ordered by the carrier in March. SAA will purchase five of the 21 aircraft direct from Boeing Co and will lease the remaining 16 from Flightlease according to Xinhua.
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