Norwegian Air Shuttle ASA has reached an agreement in principle with Boeing for a recommitment to purchase 50 Boeing 737 MAX 8 aircraft. The agreement also includes options for an additional 30 aircraft. The 50 aircraft are due to be delivered between 2025 and 2028, at a schedule closely corresponding to current aircraft lease expirations. This entails a limited net increase of the company’s current fleet. The parties’ agreement in principle is subject to various closing conditions, which are targeted to be concluded by the end of June 2022.
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 (£167 million).