The Norwegian low-cost airline Norwegian Air has announced the acquisition of three additional aircraft of the type Boeing 737-800 from its own leased fleet. The transaction is expected to close in the third quarter of this year. This measure is part of the company's consistent strategy to buy back leased aircraft and thus reduce long-term operating costs.
Norwegian plans to initially finance the acquisition of the aircraft with existing cash and subsequently arrange long-term financing. The airline expects a one-time book gain of approximately 260 million Norwegian kroner, equivalent to approximately 22 million euros, from this transaction. In March of this year, Norwegian announced the acquisition of ten Boeing 737-800s from its leased fleet, underscoring the continuation of this strategy.
The Boeing 737-800 forms the backbone of Norwegian's fleet for short- and medium-haul routes. The aircraft model is considered proven and cost-effective in the aviation industry. In the past, Norwegian relied heavily on leasing to finance its growth. However, following a comprehensive restructuring during the coronavirus pandemic, the airline is pursuing a more conservative financial strategy.
Since the crisis, Norwegian has focused exclusively on profitable short-haul routes within Europe. The airline previously offered long-haul flights, but discontinued them. The current business model is focused on low-cost point-to-point connections in the Scandinavian and European markets to ensure profitability and financial stability.