LONDON - Holiday company TUI said it had agreed with BOC Aviation a sale and leaseback deal for five new Boeing 737 MAX-8 aircraft, raising $226 million to help boost its finances.
TUI said on Monday that the deal, which applies to aircraft it will receive next year, was part of its new approach to asset ownership and it expected further sale and leaseback financing on its future deliveries beyond 2021.
Like many other travel companies, TUI is trying to boost its finances to survive the pandemic which has led to a collapse in international holidays.
(Reporting by Sarah Young, Editing by Paul Sandle) ((sarah.young@thomsonreuters.com; +44 20 7542 1109; Reuters Messaging: sarah.young.thomsonreuters@reuters.net))
