Aircraft sale to boost liquidity for SAS amid bankruptcy process.
- Scandinavian airline SAS, amidst its US Chapter 11 bankruptcy process, is moving ahead with the sale of engineless Airbus A321s.
- Spectre Air Capital, a Texas-based entity, emerges as the top bidder for the airframes after a favorable offer.
- The sale aligns with SAS's restructuring plan, SAS Forward, which emphasizes fleet redesign.
STOCKHOLM — Following the green light from the court, Scandinavian airline SAS is set to sell a series of engineless Airbus A321 airframes to Texas-based Spectre Air Capital. This decision comes as part of the airline's ongoing corporate restructuring initiative, termed "SAS Forward", which is being managed through the US Chapter 11 bankruptcy process.
In the bidding process, Spectre Air Capital outshone another contender, making the most appealing offer, as disclosed in July's court filings. The intention to sell these aircraft was initially agreed upon provisionally in March.
The aircraft involved in this transaction, identified as MSNs 1587, 1642, 1798, and 1817, were manufactured between 2001 and 2002. Initially, these airframes were powered by International Aero Engines V2500 powerplants. The sale of these airframes is a strategic move, shedding light on SAS's restructuring objective. As stated in the court filings, "The move toward a revamped fleet is a pivotal part of SAS Forward, and this sale is a significant stride in that direction."
Though the specifics regarding the purchase price remain undisclosed, the proceedings from this transaction are expected to make a noteworthy contribution to SAS's financial reserves.
Spectre Air Capital operates out of Texas and primarily deals in the leasing and trading of mid-life passenger and cargo planes.
