UK LCC easyJet has signed a sale-and-leaseback deal with Willis Lease Finance on 10 Airbus A319s, in order to reduce the costs and risks associated with transitioning to an A320neo-family fleet.

Willis said Jan. 8 it would provide a “tailored solution” that will “support easyJet in the fleet management of its existing aircraft as it introduces the latest generation of Airbus A320neo-family aircraft.”

Under the deal, easyJet will be able to use Willis’ leasing, asset management and maintenance services, “to efficiently and cost-effectively transition existing aircraft,” Willis president Brian Hole said.

The agreement will “significantly lower the risk and cost of transitioning to our fleet of new technology A320neo aircraft,” according to easyJet head of fleet strategy and procurement Chris Essex.

EasyJet in November 2018 exercised purchase rights on 17 additional A320neos, increasing to 147 the number of A320neo-family aircraft for which it has commitments.

The LCC’s A320neos are powered by CFM International LEAP-1A engines and is configured with 186 seats. The airline has 316 A320-family aircraft in service, including 17 A320neos and three A321neos.

Kerry Reals, kerry@realsreporting.com