Jan 8 (Reuters) – Southwest Airlines said on Tuesday it had entered into a deal to sell and lease back 36 of its Boeing 737-800 aircraft from Babcock & Brown Aircraft Management, helping the carrier raise cash and ease the pressure on its balance sheet.

A sale and leaseback transaction includes a carrier selling its used or newly acquired jets to leasing firms and renting them back for their own use.

These transactions have traditionally been a method for airlines worldwide to raise quick funds and strengthen their financial positions.