Norwegian Group plans to purchase ten B737-800 aircraft it currently leases, aiming to reduce costs as part of its long-term fleet strategy.
Chief executive Geir Karlsen stated that the transaction terms are attractive, indicating that the acquisition will result in both short- and long-term savings and greater flexibility in fleet management.
The deal will be initially funded from cash reserves and is expected to close by the end of the first quarter of 2025, with an anticipated non-recurring gain of approximately NOK570m (USD50.8m).
The acquisition is projected to save Norwegian around NOK200m (USD17.8m) annually in lease expenses, improving the airline’s financial position.
Currently, Norwegian Air Shuttle operates 45 aircraft, with most leased, while its sister carrier Norwegian Air Sweden manages an additional fleet of 25 B737-800s, indicating a reliance on leasing partnerships for fleet expansion.
