TUI Tui Ag

 
 TUI AG (TUI) 
TUI AG: Completion of Aircraft sale and leaseback agreement with BOC 
Aviation Limited 
 
03-Aug-2020 / 08:00 CET/CEST 
Dissemination of a Regulatory Announcement, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
 
TUI Group - Completion of Aircraft sale and leaseback agreement with BOC 
Aviation Limited 
 
Hanover, 3.8.2020. TUI Group confirms the signing of a sale and leaseback 
("SLB") agreement with BOC Aviation Ltd for five new Boeing 737 MAX-8 
aircraft for the aggregate sum of $226m (&euro193m). 
 
The first aircraft is expected for delivery in the first quarter of FY21 
with the remaining four aircraft expected to be delivered ahead of the 
Summer 2021 season. 
 
In line with our asset-right strategy as outlined in our FY19 year-end 
results, the SLB agreement with BOC Aviation Ltd will finance five new 
Boeing 737 MAX-8 aircraft as part of our planned re-fleeting programme. 
 
We expect the lease agreement with BOC Aviation Ltd, on standard commercial 
terms, to create a total lifetime lease obligation of around &euro223m to 
commence by the end of FY21. We expect further SLB financing on our future 
deliveries beyond FY21, in line with our newly agreed deferred re-fleeting 
programme with Boeing. 
 
ISIN:           DE000TUAG000 
Category Code:  AGR 
TIDM:           TUI 
LEI Code:       529900SL2WSPV293B552 
OAM Categories: 3.1. Additional regulated information required to be 
                disclosed under the laws of a Member State 
Sequence No.:   79438 
EQS News ID:    1107549 
 
End of Announcement EQS News Service 
 
 

(END) Dow Jones Newswires

August 03, 2020 02:00 ET (06:00 GMT)

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