Press release -
Norwegian to purchase ten Boeing 737-800 aircraft
Norwegian has announced an agreement to buy ten Boeing 737-800 aircraft that are currently a part of its leased fleet. The transaction is expected to close in the first quarter of 2025.
The transaction is at favourable terms and represents a key step in securing Norwegian’s future fleet. The move will enhance financial flexibility in line with the 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,” concludes CEO Geir Karlsen.
The transaction will initially be funded through the Company’s cash on hand and is expected to close in the first quarter of 2025. Norwegian is in the process of securing long term financing after completion through a combination of financing arrangements.
On completion of the transaction, Norwegian expects to record a non-recurring gain of approximately NOK 570 million. This gain reflects the pricing the company has been able to achieve for the aircraft and the corresponding reduction of existing lease liabilities. Additionally, the transaction is expected to generate recurring cost savings net of financing costs of an average of approximately NOK 200 million per year.
Stock exchange release on the transaction is found here.
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About Norwegian
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 2024, Norwegian carried 22,6 million passengers and maintained a fleet of 86 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 2024, the airline had 3.8 million passengers and a fleet of 49 aircraft, including 46 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.
