Arctic Aviation Assets, a subsidiary of Norwegian Air Shuttle ASA ("the
Company"), has signed an agreement with Boeing Commercial Airplanes for
postponement of 12 Boeing 737 MAX aircraft from 2020 to 2023 and 2024. The
postponement is expected to reduce the Company’s capital expenditure commitments
related to pre-delivery payments in 2019. Additionally, capital expenditures for
2020 will be significantly reduced.
Arctic Aviation Assets has further signed an agreement with Airbus S.A.S. for
postponement of four Airbus 321LR aircraft from 2019 to 2020. The postponement
is expected to reduce the Company’s capital expenditure commitments in 2019.
The postponements are 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
postponement of aircraft deliveries was highlighted as a measure to reduce
capital expenditures, in addition to aircraft divestment.
For more information, please contact:
Geir Karlsen, Chief Financial Officer, phone: +47 916 08 332
Stine Klund, Investor Relations Officer, phone: +47 986 99