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Aer Arann sells aircraft as part of profitability strategy

The company aims to get back to profitability, so has sold one plane to Myanmar Airways.

Image: PR 360

AER ARANN IS  selling a number of planes as part of its strategy to ensure it gets back to profitability.

It is selling one plane to Myanamar Airways, which is contrary to reports that said that it is selling three planes to the airline.

The move is another step in the company’s comprehensive and ongoing ‘new beginning’ strategy.

A spokesperson confirmed that the sales are being undertaken, and that the airline is also separately purchasing eight aircraft.

The planes are being sold as part of a fleet renewal programme, and the successful sale of the older aircraft is releasing equity for the airline, said the spokesperson.

Global Travel Industry News says that Myanmar Airways will spend US$12.5 million on the plane, which will be settled by long-term hire purchase.

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Aer Arann is not disclosing the figure that it will receive for the sale.

Earlier this year, Aer Arann announced the creation of 50 new positions, which will boost its workforce by 15 per cent.

It is aiming to double the number of its annual passengers to over two million over the next five years.

Read: Aer Arann buys €144 million worth of aircraft and announces 50 jobs>

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