Scandinavian Airlines (SAS) said it has secured a pre-delivery payment (PDP) financing facility covering a percentage of the pre-delivery payments that the carrier is making as part of its current aircraft order with Airbus.

The PDP facility covers payments in relation to two Airbus A330-300 enhanced and six Airbus A320neo aircraft and is structured as a revolving credit facility under which SAS may draw up to $74 million in total, with a maximum of $54 million outstanding at any time.

These loans will be repaid as each aircraft is delivered to SAS. DVB Bank SE is the sole arranger and financier of the facility.