By Ian Walker

Budget airline easyJet PLC said Tuesday that it is buying 56 Airbus A320neo family aircraft from Airbus SE and converting 18 A320neo family aircraft into 18 A321neo aircraft.

The new aircraft are due for delivery between 2026 and 2029, while the conversions are due for delivery between 2024 and 2027, the airline said.

Based on average 2018 list prices, the total value of the new aircraft would be $6.5 billion, but easyJet will pay a "very substantially lower" price due to certain concessions granted under a 2013 agreement with Airbus, the airline said.

easyJet said it will fund the new purchases over a number of years using internal resources, cash flow, sale and leaseback transactions and debt.

It said the board doesn't currently plan to seek an equity funding from shareholders.

Write to Ian Walker at ian.walker@wsj.com

(END) Dow Jones Newswires

June 21, 2022 02:32 ET (06:32 GMT)

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