Category: News, Date: May 9, 2020

Southwest Airlines Sells 20 Boeing 737s For $815 million

Southwest Airlines has entered into an agreement to sell 10 Boeing 737-800s and 10 Boeing 737 MAX 8 aircraft. The airline announced the sale in a filing on May 8th. However, these planes will not exit the fleet. Rather, Southwest will leaseback the aircraft. This agreement will give the airline $815 million in cash.

Southwest enters a sale-and-leaseback agreement
The airline will receive $815 million in a sale-and-leaseback agreement for 10 Boeing 737-800s and 10 Boeing 737 MAX 8 aircraft. The airline did not include information about which lessors the airline is working with for this agreement nor which specific aircraft are part of the deal.

There are 742 planes in Southwest’s fleet. Per the most recent filing, Southwest had 501 737-700s in its fleet with an average age of 16 years. These planes have 143 seats onboard.