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05/02-2019 08:04:10: (NAS) Norwegian Air Shuttle ASA - Sale of two A320neo aircraft

Arctic Aviation Assets, a subsidiary of Norwegian Air Shuttle ASA ("the
Company"), has signed an agreement for sale of two Airbus 320neo aircraft. The
aircraft are currently leased out and thus not operated by the Company. Delivery
will take place during February 2019. The transaction is expected to increase
the Company's liquidity by USD 26 million after repayment of debt and have a
positive equity effect. Sale proceeds will be used to repay debt and to increase
the Company´s liquidity. 

The sale is in line with the Company’s strategy of capitalizing on the scale
built up over the last few years and the changed focus from growth to
profitability. This announcement is an extension of the information provided in
the stock exchange announcement “Norwegian strengthens its balance sheet through
a fully underwritten rights issue of NOK 3 billion” on 29 January, where sale of
aircraft was highlighted as a measure to reduce capital expenditures, in
addition to postponement of aircraft deliveries.


For more information, please contact: 
Geir Karlsen, Chief Financial Officer, phone: +47 916 08 332 
Stine Klund, Investor Relations Officer, phone: +47 986 99 

Ekstern link: https://newsweb.oslobors.no/message/468709

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