Norwegian has announced an agreement to purchase ten Boeing 737-800 aircraft currently leased within its fleet, with the transaction expected to close in the first quarter of 2025.
The acquisition, made on favourable terms, marks a key step in securing Norwegian's future fleet. The deal will enhance financial flexibility, align with the airline's long-term strategy, and reduce overall ownership costs.
“The overall terms achieved are attractive for Norwegian and the transaction fits well with our long-term fleet and ownership strategy. The aircraft being acquired are an integral part of Norwegian's existing fleet and will through this deal continue to operate across our attractive and growing route network. This move is expected to deliver both short and long-term cost savings, as well as provide additional flexibility for future fleet planning,” said CEO Geir Karlsen.
The transaction will be initially funded through Norwegian's cash on hand, with long-term financing arrangements to follow. The airline expects to record a non-recurring gain of approximately NOK 570 million upon completion, reflecting the favourable pricing and reduction of existing lease liabilities. Additionally, the transaction is projected to generate recurring cost savings net of financing costs of around NOK 200 million per year. (€1.00 = NOK11.73 at time of publication).
