According to a filing with Borsa Istanbul, Pegasus Airlines has agreed the sale of three and four (a total of seven) Boeing 737-800NG aircraft as part of its assets to Air Lease Corporation for a total consideration of US$178.7million. The airline has sold the aircraft to accelerate its planned Airbus deliveries.
All of the aircraft being sold have been financed through financial lease, according to the filing. The sale proceeds will be partially used to pay off the outstanding financial lease obligations for the aircraft, with the surplus used to finance the airline’s ongoing investments and operational cash requirements.
All of the aircraft sales transactions are expected to be completed by October 31, 2017, says the filing.