Finnair Plc (HEX:FIA1S) has entered into a memorandum of understanding with BOC Aviation Pte Ltd to lease four new Airbus A321-200 narrow-body aircraft, the company said.
BOC Aviation is a Singapore-based subsidiary of Bank of China, specialising in aircraft leasing. The aircraft are scheduled for delivery to Finnair during the first half of 2017. The lease agreements have a minimum term of eight years.
In November, Finnair had announced the temporary damp-lease of two A321 aircraft from summer 2016 onwards. This arrangement is intended to cover the transitional period until the delivery of the four A321 aircraft now dry-leased from BOC Aviation for the longer term.
The transactions are part of Finnair´s fleet renewal, the first phase of which consists of replacing aging long-haul A340 wide-body aircraft with modern A350s.