Norwegian Air Shuttle sells five Boeing 737-800 aircraft

Darren Wood
By Darren Wood October 18, 2019 19:17

Norwegian Air Shuttle sells five Boeing 737-800 aircraft

Norwegian Air Shuttle ASA has signed an agreement to sell five Boeing 737-800 aircraft to Aircraft Recycling International Limited (ARI).

China’s ARI is a commonly held entity of China Aircraft Leasing Group Holdings Limited (CALC).

The aircraft are currently operated by the company, and the deliveries will take place late in Q4 2019 and Q1 2020.

Sale proceeds will be used to repay debt and to increase the company’s liquidity.

The transaction is expected to increase the company’s liquidity by approximately $50 million after repayment of debt and have a positive equity effect.

The sale is in line with the company’s continued strategy of capitalising on the scale built up over the last few years and the changed focus from growth to profitability.

Darren Wood
By Darren Wood October 18, 2019 19:17