Norwegian Airlines said on Monday that it had agreed to buy 50 Boeing 737 Max aircraft and had the option to buy another 30 aircraft. The deal marks Norwegian airlines' return to ownership of the aircraft. Last year, Norwegian Airlines was rescued in bankruptcy proceedings and was forced to adopt a lease agreement.
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"These 50 aircraft will be delivered between 2025 and 2028. This schedule is closely related to the expiration of the current aircraft lease. This means that the net growth of the company's existing fleet is limited," Norwegian Airlines said in a statement.
As a result of the agreement, the airline is expected to receive a net income of approximately SEK 2billion (US $212.2 million), thereby increasing its share capital.
Svein Harald oeygard, chairman of the board of Norwegian airlines, said: "this is a landmark transaction, which opens the way for Norwegian companies to own a large share of their fleet."