The first aircraft is expected for delivery in the first quarter of the group’s 2021 financial year with the remaining four to come before the summer 2021 season.
The deal is part of the travel company’s re-fleeting programme, under which it expects to carry out further sale and leaseback financing.
The FTSE 250-listed firm said it is estimated to create a total lifetime lease obligation of around €223m to commence by the end of the financial year 2021.
In May, TUI announced an operational rehaul to create a “leaner” business model, resulting in 8,000 job losses, amid the coronavirus crisis.
Shares shed 3% to 280.87p early on Monday.
Published at Mon, 03 Aug 2020 07:52:00 +0000-TUI completes US$226mln sale and leaseback for five new Boeing aircraft