Norwegian to purchase 50 Boeing 737 MAX 8 aircraft

Dergam Mousa

4 years ago

Norwegian Air Shuttle reported Monday that it has reached an agreement with Boeing for a new purchase commitment for 50 737 MAX 8 aircraft and options for an additional 30. These aircraft will be delivered between 2025 and 2028. The agreement is subject to several closing conditions, which are intended to be concluded by the end of June 2022.

→ Norwegian Air makes profit after restructuring.

The company intends to finance the outstanding balance of pre-delivery payments through positive cash flow from operating activities. A significant share of the aircraft will be owned by the company, ensuring an optimised and balanced aircraft financing structure. Subsequent to the conclusion of these agreements, Norwegian estimates to record a net gain of approximately NOK 2 billion.

“This is a landmark deal that sets out a path whereby Norwegian will own a large share of its fleet. This will result in lower all-in costs and increased financial robustness, enabling us to further solidify our Nordic stronghold. The deal also allows us to serve our customers with state-of-the-art aircraft that can run increasingly on sustainable aviation fuel,” said Svein Harald Øygard, Chair of the Board of Norwegian.