Norwegian Seals JV with Chinese Lessor for 27 A320neos | Aviation International News

Norwegian Seals JV with Chinese Lessor for 27 A320neos

The Oslo-based LCC plans for a return to service of its Boeing 737 Max aircraft fleet in late March 2020 “at the earliest

By Cathy Buyck • Contributor - Europe

October 24, 2019

Following protracted efforts to form a leasing joint venture with a “very strong Asian company” to divest part or all of its Airbus order book, Norwegian Air Shuttle on Thursday said it reached a deal with China Leasing International Corporation for an initial 27 Airbus narrowbodies, giving the Oslo-based low-cost carrier group financial breathing room to pursue its restructuring. “We finally got an agreement on this joint venture,” said Norwegian acting CEO and CFO Geir Karlsen. The joint venture with CLIC will contribute “significantly” to reducing the company ‘s current and future capital expenditure, he noted, and “is one of many important initiatives that need to be realized to deliver on [a] strategy of moving from growth to profitability.”

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