Air Transat completes sale & leaseback transactions of four engines

Air Transat says it has entered into engine sale and leaseback agreements for four Pratt & Whitney GTF spare engines with Rolls-Royce & Partners Finance (RRPF) Engine Leasing Limited.

The transactions, valued at US$85 million, will allow the airline to increase its liquidity while continuing to use the spare engines on an as-needed basis to power its A321LR fleet.

Three of the transactions closed on October 29, while the fourth is expected to close on or about November 5, according to a press release.

Proceeds from the sales will be used to fund the company's operations.

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