Norwegian Airlines Purchases Ten Boeing 737-800 Aircraft

Norwegian has signed an agreement to purchase ten Boeing 737-800 aircraft, which are already part of the company’s leasing fleet. The purchase is expected to be completed by the first quarter of 2025.

 

Owning a larger portion of its fleet is an important step for Norwegian, ensuring predictability, financial flexibility, and long-term growth. Additionally, the purchase contributes to lower costs.

Geir Karlsen, CEO of Norwegian, commented:
“The terms we have achieved are beneficial for Norwegian, and this deal fits well within our long-term fleet strategy. These aircraft are already a significant part of our fleet and will continue to operate key routes within our network. The purchase is expected to reduce costs both in the short and long term, while providing additional flexibility as we plan our fleet and route network moving forward.”

The deal is expected to be completed in the first quarter of 2025. Initially, the aircraft purchase will be financed from the company’s cash reserves, and Norwegian is in the process of securing long-term financing through a combination of financing arrangements.

Norwegian expects to record a one-time gain of around NOK 570 million upon completion of the deal. This gain reflects the negotiated price for the aircraft, as well as reduced leasing obligations. Additionally, Norwegian anticipates an average annual cost saving of approximately NOK 200 million after financing costs.