Press release -
Norwegian has completed financing of additional 9 aircraft
Today, Norwegian signed an agreement with a new syndicated structure regarding financing of all six 737 MAX 8 aircraft with delivery in 2017. In addition three 737-800s will be financed with sale and leaseback.
Norwegian's subsidiary Arctic Aviation Assets Ltd (AAA) has completed financing of six Boeing 737 MAX 8 aircraft with an insurance guaranteed financing product. This covers all the scheduled deliveries of Boeing 737 MAX 8 aircraft during 2017.
In 2017, Norwegian takes on new cost efficient aircraft as part of renewing the short haul fleet and expanding the transatlantic operation.
A total 15 new Boeing 737-800 aircraft delivered from January through June this year are to be financed through sale and leaseback. In addition, one Airbus 320neo has been financed with commercial debt.
Of the nine new Boeing 787-9 Dreamliners delivering AAA will take delivery of this year, five aircraft will be leased. The financing of the remaining four Dreamliners will soon be finalized using export credits.
“I am glad to see the groups financing and fleet renewal process moving along as planned. With these agreements, we have also utilized a new source of financing coming available this spring. Our focus is now on 2018-19 financing program,” said Norwegian’s CFO Frode Foss.
Tore Østby, Vice President Investor Relations, tel. +47 99 54 64 00
Norwegian is the world’s sixth largest low-cost airline and carried 29 million passengers in 2016. The airline operates more than 450 routes to over 130 destinations in Europe, North Africa, Middle East, Thailand, Caribbean and the U.S. At year-end 2016, Norwegian had a fleet of 116 aircraft, with an average age of 3.6 years, making it one of the world’s youngest fleets. Norwegian was named the Most Fuel-Efficient Airline on Transatlantic Routes by the International Council on Clean Transportation (ICCT). For the 4th year in a row Norwegian has been named Europe's Best Low-Cost Airline by our passengers and the World's Best Low-Cost Long Haul Airline for two consecutive years. The airline offers 40 nonstop routes from the U.S. to London, Paris, Scandinavia and the Caribbean.
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