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TUI AG
Capital/Financing Update • Oct 25, 2023
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Capital/Financing Update
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National Storage Mechanism | Additional information
TUI AG (TUI)
TUI AG: Completion of Aircraft sale and leaseback transactions
25-Oct-2023 / 19:25 CET/CEST
The issuer is solely responsible for the content of this announcement.
Completion of Aircraft sale and leaseback transactions
Hanover, 25 October 2023. TUI Group confirms the signing of a sale and leaseback (“SLB”) agreement with SMBC Aviation Capital Limited for three new Boeing 737 MAX-8 aircraft for the aggregate sum of $147m (~€139m).
The SLB agreement with SMBC will finance three new Boeing 737 MAX-8 aircraft from TUI’s existing orderbook which are expected to be delivered during the course of FY 2024.
We expect the SLB agreement with SMBC, contracted on standard commercial terms, to create a total lifetime lease obligation of around €110m to commence upon delivery of the aircraft.
Additionally, TUI Group confirms the signing of a sale and leaseback (“SLB”) agreement with IC Airlease One Limited for three new Boeing 737 MAX-8 aircraft for the aggregate sum of $147m (~€139m).
The SLB agreement with IC Airlease One Limited will finance three new Boeing 737 MAX-8 aircraft from TUI’s existing orderbook which are expected to be delivered during the course of FY 2024.
We expect the SLB agreement with IC Airlease One Limited, contracted on standard commercial terms, to create a total lifetime lease obligation of around €100m to commence upon delivery of the aircraft.
The transactions are in line with TUI’s overall fleet ownership and financing strategy and there are no changes to the Group’s fleet plan.
ANALYST & INVESTOR ENQUIRIES
| Nicola Gehrt, Group Director Investor Relations | + 49 (0)511 566 1435 |
| Adrian Bell, Senior Investor Relations Manager | +49 (0)511 566 2332 |
| James Trimble, Investor Relations Manager | + 44 (0)1582 315 293 |
| Stefan Keese, Investor Relations Manager | + 49 (0)511 566 1387 |
| Media | |
| Kuzey Alexander Esener, Head of Media Relations | + 49 (0)511 566 6024 |
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
| ISIN: | DE000TUAG505 |
| 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.: | 280550 |
| EQS News ID: | 1757455 |
| End of Announcement | EQS News Service |