Norwegian has reached an agreement to buy 10 Boeing 737-800 aircraft that the airline says already form part of its leased fleet.
The carrier’s strategic move was announced to the Oslo Stock Exchange on March 3, 2025, in what was described as a “key step in securing the company’s future fleet”.
Norwegian said it expects the agreement to be finalized by the end of March 2025, and once completed will “generate recurring cost savings net of financing costs of an average” of around NOK 200 million ($17.8 million) per year.
Additionally, on completion of the transaction, Norwegian expects to record a non-recurring gain of approximately NOK 570 million ($50.7 million).
“This gain reflects the pricing the company has been able to achieve for the aircraft and the corresponding reduction of existing lease liabilities,” the airline said.
Norwegian hopes the move will enhance its financial flexibility in line with its long-term strategy and reduce overall ownership cost.
“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,” said Norwegian CEO Geir Karlsen.
The transaction will initially be covered by the airline’s cash while it secures long-term financing through a combination of arrangements.
According to ch-aviation, Norwegian currently operates an active fleet of 31 Boeing 737-800s and 10 wet leased 737-800s.
The airline also operates six Boeing 737 MAX 8s plus three more through wet lease arrangements. Norwegian is also awaiting delivery of 50 new 737-8s.
