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Norwegian reaches an agreement for the purchase of 50 Boeing 737 MAX 8

The airline estimates to register a net profit of approximately 200 million euros.

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Norwegian reaches an agreement for the purchase of 50 Boeing 737 MAX 8

The airline estimates to register a net profit of approximately 200 million euros

MADRID, 30 May. (EUROPA PRESS) -

The Norwegian airline has signed a letter of intent with Boeing for the purchase of 50 Boeing 737 MAX 8. The agreement also includes an option to buy another 30 aircraft.

The 50 aircraft are scheduled to be delivered in the period from 2025 to 2028, which coincides with the expiry of existing leases and therefore implies a limited net increase in the company's aircraft fleet.

The parties aim to conclude and sign the final agreement by the end of June 2022.

The company plans to finance the outstanding balance of the prepayments (in English 'Pre Delivery Payments' or 'PDP') with a positive cash flow from its operations. A significant proportion of the aircraft will be owned directly by the company, which guarantees, according to the company, "an optimized and balanced financing structure."

As a result of the conclusion of this agreement, Norwegian estimates to register a net profit of approximately 2,000 million Norwegian crowns (196.5 million euros).

"This agreement is a milestone that allows Norwegian to own a large part of its aircraft fleet. The total costs go down and the financial strength increases, and this means that we want to strengthen and consolidate our leadership position in the Nordic region. With this agreement, we will be able to offer customers travel with very modern aircraft that will be able to use a higher proportion of sustainable aviation fuel," said the airline's chairman of the board of directors Svein Harald Oygard.

The deal shows Norwegian's desire and willingness to operate a modern and fuel-efficient aircraft fleet. The Boeing 737 MAX 8 is approximately 14% more fuel efficient compared to the previous generation of aircraft and will make a significant contribution to the company's commitment to reduce emissions by 45% by 2030.