StockMarketWire.com - Budget airline easyJet confirmed it had sold and leased a number of its aircraft, raising $398.6 million, or about £306 million, bolstering its balance sheet.

The first transaction was executed with Wilmington Trust SP Services (Dublin) for the sale and leaseback of five Airbus 320 family aircraft for $191.1m, or about £146.5m, on an average lease term of 117 months, creating obligations of £123.7m.

The second transaction was executed with Sky High 112 Leasing Company for the sale and leaseback of four Airbus 320 family aircraft for $207.5m, approximately £159.1m, on an average lease term of 116 months, creating obligations of £108.0m.

'Once these two transactions are completed, easyJet will retain 152 fully owned and unencumbered aircraft, representing approximately 44% of the fleet,' the company said.

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