Finnair will lease out three Embraer 170 aircraft to Aeromexico Connect
Finnair has signed a contract on the lease of three Embraer 170 aircraft to the Mexican airline Aeromexico Connect. All three aircraft are owned by Finnair. One of the aircraft was earlier leased out to Honeywell, and it will be delivered to Aeromexico Connect in this month. The two remaining aircraft will be delivered to Aeromexico Connect in June 2014, when their existing lease periods with Kenya Airways expire. The lease period for all three aircraft is six years.
The lease agreement is a part of Finnair's 140 million euro savings program. In the past few years Finnair has increased the efficiency of its fleet, for example, by leasing out some of its aircraft to third parties. At the same time it has increased the utilization of its aircraft and reached significant savings.
Finnair Aircraft Finance, responsible for administering the Finnair fleet, owns in total five 76-seat Embraer 170 aircraft and twelve 100-seat Embraer 190 aircraft. These aircraft, with the exception of those leased to Aeromexico Connect and Kenya Airways, are operated by Finnair's affiliated company Flybe Nordic as contract flying for Finnair. Of the 44 aircraft-wide narrow and wide body fleet that Finnair operates itself, Finnair owns 26 planes and has leased 18.