Press release - 18 December 2015 06:00

Norwegian-subsidiary Arctic Aviation Assets to lease out 12 aircraft to airline HK Express

Arctic Aviation Assets Ltd (AAA) – a fully owned subsidiary of Norwgian Air Shuttle – has signed a final agreement to lease out 12 Airbus 320neo aircraft to airline HK Express. The 12 aircraft are scheduled to be delivered between 2016 and 2018.

“We are delighted to work with HK Express to support their expanding network with the modern and fuel-efficient Airbus A320neo”, said Tore Jenssen, COO of Arctic Aviation Assets Ltd.

Through AAA, Norwegian has firm orders of 100 Airbus A320neo. This aircraft type offers new, more energy-efficient engines enabling fuel savings and emission reductions of up to 20 per cent compared to previous models.

The agreement is a final confirmation of the letter of intent to lease out the aircraft announced on 12^th August 2015.

Arctic Aviation Assets Ltd. is a fully owned subsidiary of Norwegian Air Shuttle, based in Dublin, Ireland. AAA manages a portfolio of 100 aircraft for the Norwegian Group and has firm orders of 267 aircraft for delivery in 2015 to 2022 in addition to 160 purchase options.

Media Contact:

Tore Jenssen, Chief Operating Officer, Arctic Aviation Assets Ltd, +353 (0) 879 461 070

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Norwegian Air Shuttle ASA, commercially branded “Norwegian”, is a low-cost airline listed on the Oslo Stock Exchange. Norwegian is the world's seventh largest low-cost airline. The company reported its highest ever passenger figures in a single year with almost 24 million passengers in 2014. Norwegian has a route portfolio that stretches across Europe into North Africa and the Middle East, as well as long-haul flights to the US and Southeast Asia. The company has over 400 routes to more than 130 destinations and employs approximately 5,500 people. The company has several hundred undelivered aircraft on firm order. Norwegian was founded in 1993 and its headquarter is in Fornebu, Norway. Norwegian offers better leg room than most competitors, in-flight WiFi on short haul, a fleet of around 100 aircraft with an average age of only four years; one of the youngest fleets in the world. In 2013, 2014 and 2015, Norwegian was voted Europe’s best low-cost carrier of the year by the renowned SkyTrax World Airline Awards. Norwegian was also the first airline to be awarded the World's best low-cost long-haul airline in 2015 by SkyTrax. In 2014, Norwegian also won three prizes at the prestigious Passenger Choice Awards for Best Airline in Europe, Best Inflight Connectivity & Communications and Best Single Achievement in Passenger Experience for its moving map on the 787 Dreamliners. In addition, Norwegian was awarded Europe's best low-cost airline by AirlineRatings.com for the second year running.

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Norwegian.com

The Norwegian group is a leading Nordic aviation company, headquartered at Fornebu outside Oslo, Norway. The company has over 8,200 employees and owns two of the prominent airlines in the Nordics: Norwegian Air Shuttle and Widerøe’s Flyveselskap. Widerøe was acquired by Norwegian in 2024, aiming to facilitate seamless air travel across the two airline’s networks.

Norwegian Air Shuttle, the largest Norwegian airline with around 4,700 employees, operates an extensive route network connecting Nordic countries to key European destinations. In 2023, Norwegian carried over 20 million passengers and maintained a fleet of 87 Boeing 737-800 and 737 MAX 8 aircraft.

Widerøe’s Flyveselskap, Norway’s oldest airline, is Scandinavia’s largest regional carrier. The airline has more than 3,500 employees. Mainly operating the short-runway airports in rural Norway, Widerøe operates several state contract routes (PSO routes) in addition to its own commercial network. In 2023, the airline had 3.3 million passengers and a fleet of 48 aircraft, including 45 Bombardier Dash 8’s and three Embraer E190-E2's. Widerøe Ground Handling provides ground handling services at 41 Norwegian airports.

The Norwegian group has sustainability as a key priority and has committed to significantly reducing carbon emissions from its operations. Among numerous initiatives, the most noteworthy is the investment in production and use of fossil-free aviation fuel (SAF). Norwegian strives to become the sustainable choice for its passengers, actively contributing to the transformation of the aviation industry.

​Norwegian-subsidiary Arctic Aviation Assets to lease out 12 aircraft to airline HK Express