Norwegian Air Shuttle ASA (“Norwegian”) can today announce that it has entered into an agreement to purchase 10 Boeing 737-800 aircraft that are currently on lease to the airline.
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, in addition to reduced overall ownership cost.
The transaction is expected to close in the first quarter of 2025, subject to customary closing conditions. The acquisition will initially be funded through the Company’s cash on hand, with Norwegian being in the process of securing long-term financing after completion through a combination of financing arrangements.
On completion of the transaction, Norwegian expects to record a non-recurring gain of approximately NOK 570 million. This gain reflects the pricing the company has been able to achieve for the aircraft and the corresponding reduction of existing lease liabilities. Additionally, the transaction is expected to generate recurring cost savings net of financing costs of an average of approximately NOK 200 million per year.
Norwegian remains committed to prudent management of its balance sheet and will continue to explore opportunities to optimise its fleet composition in alignment with its long-term strategic and financial objectives.
“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,” concludes CEO Geir Karlsen.
For further information, please contact:
Hans-Jørgen Wibstad, CFO at Norwegian Air Shuttle ASA, Tel: +47 916 89 661
Fornebu, 3 March 2025 Norwegian Air Shuttle ASA
This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange announcement was published by Teodora Samoila, Financial Analyst at Norwegian Air Shuttle ASA, on 03 March 2025 at 08:00 CET.