AAA sells two 737-800s

Lauren Eldershaw
By Lauren Eldershaw April 3, 2019 14:37

AAA sells two 737-800s

Arctic Aviation Assets (AAA), a subsidiary of Norwegian Air Shuttle, has signed an agreement for sale of two Boeing 737-800 aircraft, subject to final documentation. The aircraft are currently operated by Norwegian, and the deliveries will take place late in Q3 and early in Q4 2019. The transaction is expected to increase the airline’s liquidity by $21 million after repayment of debt and have a positive equity effect. Sale proceeds will be used to repay debt and to increase the company´s liquidity.

Norwegian said in a stock filing that the sale is in line with its strategy of capitalising on the scale built up over the last few years and the changed focus from growth to profitability.

Lauren Eldershaw
By Lauren Eldershaw April 3, 2019 14:37