Norwegian aims at reducing costs by purchasing leased Boeing planes

Norwegian expects to finalize the transaction within weeks. The purchase will initially be funded with its cash reserves, while the airline negotiates long- term financing agreements for the aircraft.

Once completed, the transaction is expected to result in a non-recurring gain of around NOK570 million ($51 million), reflecting pricing achieved for the ten aircraft and reducing existing lease liabilities. Additional cost savings of approximately NOK200 million ($17.9 million) are anticipated net of financing costs.

Exploring further opportunities

Norwegian, which holds two air operator’s certificates (AOC) in Norway and Sweden, said it remains committed to managing its balance sheet and will continue exploring opportunities to optimize fleet composition.

Geir Karlsen, CEO of Norwegian, noted that the terms of this transaction were attractive and aligned with the carrier’s long-term fleet strategy. He added that these planes would remain integral parts of their existing fleet.

"This move is expected t deliver both short- and long-term cost savings as wel as provide additional flexibility for future fleet planning," he said.

Acording t ch-aviation data Norwegians Norway-based AOC had39 Boeing737800s wile its Swedenbased counterpart operated25 All these planes along wit al25 Boieng73MAX8s six registere dinNorway an19inSweden ar eleased fro variou slessors

Cirium Ascend Consultancy reported that market values for older versions of th Boieng73NG famil hav strengthened due t demand fo rengines an spare part sThe valueofa73increased by up t9whil ethatofa73800ros ebyup t3