Scandinavian budget carrier Norwegian has agreed to purchase 10 of its leased Boeing 737-800 jets.
Norwegian expects to achieve a non-recurring gain of some NKr570 million ($51 million) from the transaction, which it will fund through a mix of cash and long-term financing.
It says this reflects the pricing it has been able to secure for the jets as well as the reduction in lease liability.
The airline also believes the acquisition will bring recurring annual cost savings – net of financing costs – of about NKr200 million.
“This transaction represents a key step in securing the company’s future fleet, enhancing financial flexibility, and increasing asset ownership to support long-term operational and strategic growth,” it says.
Norwegian expects the transaction to close in the first quarter of this year.
It has not identified the specific airframes involved in the acquisition.
But chief executive Geir Karlsen says: “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.”
Norwegian says it is “committed to prudent management” regarding its balance sheet, and will “continue to explore opportunities to optimise its fleet composition”.
